Lloyds Banking Group has selected the cash management and payments platform of SAP to provide innovative payment technology for its clients.

Backed by SAP HANA, the real-time platform includes omni-channel banking features.

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It is designed for Lloyds to serve needs of commercial banks, non-bank financial institutions and corporate clients.

SAP HANA offers real-time view of cash positions, unique API platform and continuous connectivity across the platform.

The platform enables Lloyds to provide cost saving techniques and smooth self-service to clients.

Lloyds Banking Group will make use of SAP’s offerings like SAP Deposits Management and SAP Payment Engine applications and the SAP Omnichannel Banking solution.

SAP HANA’s in-memory technology enables clients to access these advanced features.

SAP financial services industries global head Rob Hetherington said: “The need for corporate banks to provide their clients with a seamless user experience as well as a high level of self-service becomes more and more imminent.

“Banks must provide not only first-class product functionality but also ease of consumption through open application programming interfaces (APIs) as well as being flexible to meet customer expectations.

“By supplying real-time cash management, payments and analytics capabilities coupled with an API-based architecture, SAP is committed to helping corporate banks, like Lloyds, harness innovation to deliver unparalleled experiences.”