2 years ago

Lloyds Bank Invests £10 Million in Digital ID Startup Yoti

  • Lloyds Banking Group has invested £10 million in Yoti, a digital identity company, to develop its app-based identity verification software

  • Yoti's technology is used by various organizations, including Instagram, the Post Office, and UK cinemas

  • This investment is part of Lloyds' strategy to strengthen the UK's financial ecosystem and support fintech innovation

  • Yoti plans to use the funding to expand its services and reach more businesses and individuals.

      • ProblemTechnology

      "Businesses struggle to verify the identity of their customers, leading to fraud and security risks."

      Solution

      "Yoti provides a digital identity verification platform that allows businesses to securely and easily verify the identity of their customers."

      Covered on