Our purpose is Helping Britain Prosper.
Social housing is an integral part of the UK’s housing landscape.
Lloyds Banking Group incorporates many household names.
This report provides an update on our progress towards the Group's sustainability ambitions.
In 2023 we partnered with Crisis.
As with all necessary struggles it’s often the actions of brilliant and tenacious individuals that create lasting change.
Disclosures relating to our strategic, financial, operational, environmental and social performance.
See all the key dates in the financial year.
Higher, more sustainable returns as we continue to Help Britain Prosper.
It's the alphabet that no child should have to learn.
If you want to bring your knowledge and skills to a truly transformative, widescale digital environment, we’d love to hear from you.
Xinyi is pioneering AI and advanced analytics at the Group alongside her part-time role as a concert pianist.
Lloyds Banking Group is best known for its portfolio of financial services brands.
Our purpose is Helping Britain Prosper.
Social housing is an integral part of the UK’s housing landscape.
Lloyds Banking Group incorporates many household names.
This report provides an update on our progress towards the Group's sustainability ambitions.
In 2023 we partnered with Crisis.
As with all necessary struggles it’s often the actions of brilliant and tenacious individuals that create lasting change.
Disclosures relating to our strategic, financial, operational, environmental and social performance.
See all the key dates in the financial year.
Higher, more sustainable returns as we continue to Help Britain Prosper.
It's the alphabet that no child should have to learn.
If you want to bring your knowledge and skills to a truly transformative, widescale digital environment, we’d love to hear from you.
Xinyi is pioneering AI and advanced analytics at the Group alongside her part-time role as a concert pianist.
Lloyds Banking Group is best known for its portfolio of financial services brands.
As part of our strategic transformation, we’re helping shape the future of payments, to give customers more help and control over their budgeting.
The Buy Now, Pay Later (BNPL) market is growing rapidly – up 16% year-on-year. One in 10 of our customers now already choose to pay using BNPL options available at the online checkout. The main reason one in four people like to spread their payments with BNPL is to help with budgeting, even though they may be able to afford the item upfront. And a similar number (24%) say they use it to make purchases where they can’t afford to buy outright.
As well as being able to borrow interest-free and at no extra cost, customers tell us they like the ease, simplicity and flexibility that such instalment plans offer, and value responsible players in the market.
At Lloyds Banking Group we want to be able to do more to support people when it comes to budgeting, by offering them more choice and flexibility in the ways they choose to pay. We see instalment plans as a significant opportunity and a key part of our aspiration to innovate in the ways we can help people to pay.
We also want to help transform and grow business for our merchant partners. Through our brand presence and flexible payment proposition we’ll help them attract and retain new customers, enhance the customer experience they can offer and grow long-standing relationships.
By creating new, responsible, regulated, low-risk payment options we can create huge value for both customers and merchants, and grow our business as a result.
We’re helping customers to build financial knowledge and empower them with the confidence they need to make the most of their money, both now and in the future.
We’re working on a range of new ways to pay that are designed to help shoppers with some of the millions of online purchases that are made every day. We want to give access to flexible instalment plans at checkout and enable people to spread payments over a longer period to help them manage their money. As a fully regulated provider, we will apply the same affordability checks as we do on other lending, giving reassurance to both customers and merchants that we will only lend what people can afford.
We’ll partner with trusted merchants that offer goods and services where it makes sense to spread payments. And we’ll enable customers to see all their instalment plans in one place through a dedicated mobile app, putting them in control and letting them flex and manage their instalment plans and make one simple monthly payment. We’re also working with established consumer finance provider New Day, using their market leading payments technology to ensure a smooth and seamless experience.
We’ll start small – working with a small number of merchants first before rolling out and giving customers even more choice at checkout, either exclusively or as an alternative option to other checkout payment providers.
We fully support increased regulation of the BNPL market, and would like to see a clearer definition of “credit”, so that credit products with similar features and risks are regulated equally, and customers are afforded the same level of protection no matter how they pay or who they choose to pay with.
Instalment plans are set to play a key role in Lloyds Banking Group’s ongoing strategic transformation and our future plans are ambitious. 2025 and beyond will see this kind of embedded finance become a key part of Lloyds Banking Group’s consumer lending product offering, working with a broad range of carefully chosen merchants in order for us to show up at the end of millions of online purchase journeys, helping our customers with their budgeting by offering new choice and flexibility, and helping shoppers buy in a new way that suits them best.
In this way, we’re in an unrivalled position to take the deep understanding we have of our customers’ needs and spending habits and pair this with strategic partnerships and revolutionary tech, to reimagine credit at the online point of sale.
Embedded Finance Director
Deepa Mardolkar has spent over 25 years in product development, across Consumer Goods in India, a VC firm incubating a travel portal at the dawn of the Internet, and then retail finance in the UK across Amazon, American Express and Capital One.
She has led European payment businesses across revenue generation, customer engagement and digital payments. At Amazon, she led the multi-billion dollar Stored Value business across Europe, where she led B2C, B2B and B2B2C channels across multiple geographies.
As Embedded Finance Director for Lloyds Banking Group, Deepa is looking forward to creating responsible customer solutions at the forefront of digital change, while delivering on the long-term strategy for LBG and Helping Britain Prosper. Her start-up team within the Group is charged with meeting customers at their point of need and partnering with our extensive merchant network to launch and develop innovative new solutions.
Deepa's spare time is mostly taken up by her 4-year-old dog (who insists on remaining a puppy), but she sometimes finds the time to write – her notes on money, power and care are part of an e-book called 'She'.
Managing Director, Merchant Services
Melinda was appointed as the Managing Director of Merchant Services at Lloyds Banking Group on 30 January 2023.
Together with the team, Melinda is responsible for delivering part of the Business & Commercial Banking payments strategy, including developing products and propositions for card acquiring (Cardnet) payment types and enabling customers to do business with ease. Melinda is also proud to be leading deliverance of the Cardnet Accelerated Growth Plan and the exciting aspirations the team aim to achieve in the next few years.
Melinda brings deep payments and financial technology experience, having worked in financial services companies including Square and PayPal, as well as Global Head of Small & Medium Businesses at Afterpay. Melinda also has breadth of strategic leadership experience from her time as the General Manager, UK and Ireland for Uber and was in Lloyds in 2006 as a Senior Manager in Cards and Payments.
Melinda’s interests include travelling, snowboarding, modern art and food and wine.
Fraud doesn’t only impact finances – like any other crime, it can have a knock-on effect on the victim’s mental well-being and sense of safety.
Customers are choosing mobile banking over any other way to bank, with only 8% of customers using a branch regularly.
As part of our strategic transformation, we’re helping shape the future of payments, to give customers more help and control over their budgeting.
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