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LONDON, FEBRUARY 2004 - Xbridge, the UK's leading online business finance strategist, has partnered with Lloyds TSB Commercial Finance to revolutionise its online service for small, medium and large corporates.
Lloyds TSB Commercial Finance's new asset based lending website, which runs on the Xbridge platform, will enable Commercial Finance to gain a deeper understanding of the financial requirements of businesses and then tailor solutions to meet those requirements.
The Xbridge platform enables Lloyds TSB to bring all four of its current asset based lending brands - Alex Lawrie Factors, CashFriday, Lloyds TSB Asset Finance and Commercial Finance - under one online umbrella, providing a range of solutions under the single brand of Lloyds TSB Commercial Finance. This highly interactive online solution provides clients with instant, tailored recommendations to fit their particular needs.
Brad Liebmann, Managing Director of Xbridge comments "Lloyds TSB Commercial Finance wanted a 'customer-centric' not 'product-centric' online experience that guides visitors to the site to the financial services best suited to them and their business, rather than fitting the business into a specific product."
Liebmann continues, "The bespoke portal is very efficient and allows Commercial Finance to filter the information from each enquiry, and create a funding solution through analysis of the clients' current needs. Accurate funding solutions are delivered to the enquirer in a significantly faster time."
Depending on the specific needs of the client Commercial Finance is then able to follow up enquiries more quickly and more efficiently, allowing clients to enhance their business potential.
Ted Ettershank, Managing Director of Lloyds TSB Commercial Finance comments "The asset based lending market continues to increase and has seen a greater number of companies and individuals who are more aware of the options available to them."
Ettershank continues, "Our online partnership with Xbridge reflects the aim of our greater business: to offer a one-stop shop approach with a seamless delivery of financial solutions for each client."
Lloyds TSB Commercial Finance is committed to using technology and new funding channels to offer businesses greatly enhanced funding and servicing levels.
The new Lloyds TSB Commercial Finance website is just the visible "tip of the iceberg" of the Xbridge platform. Knowledge is created and analysed starting from a client entering the site all the way to completion of the enquiry. Because of this, Lloyds TSB Commercial Finance is able to isolate not just why they were able to offer funding but why they were not. Such an in-depth knowledge of the entire sales process will have significant impact in offline channels, having a positive effect on operations in general.
Liebmann concludes, "Commercial Finance is already at the forefront of asset based lending but now they will be able to cement their position by setting a precedent as the first big lender to really make use of the technology available."
The new service will be available to businesses from 23rd February 2004.
For more information please contact
Lansons Communications
Notes to editors
- Xbridge was founded in 2000 and is the UK's leading online business finance strategist with more than 40,000 small firms using them every month to get quotes tailored to their needs on services from commercial motor insurance to asset finance. Businesses seeking quotes can go to www.xbridge.co.uk.
- Lloyds TSB Commercial Finance (www.ltsbcf.co.uk) is part of the Lloyds TSB Group. Its services can meet the needs of businesses ranging from start-up through to major global PLCs. This holistic approach to abl means that customers benefit from a far more tailored approach to finance where different elements of abl can be added to the funding mix according to the needs and lifecycle of the individual business.