LLOYDS TSB COMMERCIAL FINANCE TEAMS UP WITH GRAYDON CREDIT INFORMATION TO OFFER NEW SERVICE

Graydon UK is pleased to confirm a new product development initiative with Lloyds TSB Commercial Finance (LTSBCF).

Graydon UK is pleased to confirm a new product development initiative with Lloyds TSB Commercial Finance (LTSBCF). David Goddard, major accounts director at Graydon UK, comments " we are delighted that Lloyds TSB Commercial Finance have chosen Graydon as their partner to explore new data opportunities, allowing LTSBCF to offer a new online product, while significantly reducing their manual processing."

The XML-based solution developed using Biztalk technology coupled to an XML interface with Graydon data, allows users to request credit references on prospective and existing business customers. The web service, known as Firstcheck, automates a previously manual process, allowing 70% of requests for credit references to be provided without manual intervention. Costs have been slashed and credit references can be provided in minutes.

Using one of the most powerful business databases available, powered by Graydon UK, LTSBCF is able to credit check rating and payment performance of more than 3.6 million businesses in the UK instantly, including partnerships and sole traders. Additionally, LTSBCF will benefit from Graydon's extensive international coverage embracing 50 online countries offering over 30 million database reports.

"Cash is the lifeblood of small businesses and without it, many businesses fail even though they are profitable," said Ted Ettershank, managing director, LTSBCF. "Firstcheck allows small businesses to agree to good financial agreements quickly whilst avoiding the poor ones. This in turn helps improve cash flow, making financial management easier."

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Notes to the Editor

About Lloyds TSB Commercial Finance Ltd

Lloyds TSB Commercial Finance Ltd is the leading provider of invoice discounting and asset-based lending solutions for growing, established UK companies. The company also provides factoring services to small businesses under the brand name Alex Lawrie Factors.

Firstcheck is available to all customers of LTSBCF. Firstcheck and CreditChecker have both been developed in partnership with Graydon UK, a leading credit references agency.

About Graydon UK Ltd.

Graydon UK is one of the leading database information providers in credit risk management. The company helps clients reduce the uncertainty of doing business by providing a complete, differentiated and high-quality package of credit risk management services.

Graydon is a founder member of the Eurogate Network, a pan-European alliance of information providers that offer a wealth of real-time management information on the current financial standing of companies throughout Europe

The Graydon group is owned by Gerling NCM, Coface and Hermes, three of Europe's leading credit insurance organisations. With its network of branch offices, partnerships and alliances, Graydon today services the world of commerce from more than 130 offices worldwide. For additional information, visit Graydon on the Web at www.graydon.co.uk