Lloyds: Invest in loyalty app Bink
- Lloyds Banking Group is to follow Barclays in becoming a shareholder in Bink, a loyalty app launched in 2015
- Bink links consumers’ payment cards with the loyalty schemes of participating retailers
- The startup has signed up a number of prominent high street retailers, including Harvey Nichols
- Bink struck its first major banking partnership with Barclays in 2019 in a deal
- The lender invest approximately $10 million in the app and provide access to its six million UK mobile customers
- It is unclear how much Bank plans to invest in the business, or at what valuation
