Transaction banking trailblazer: Andrea Melville, Lloyds Banking Group
The bank's managing director of commercialisation and propositions for global transaction banking says: 'Why shouldn’t banking be just as simple as booking a hotel or ordering a taxi?'
In June, some of the world’s largest financial institutions pumped almost £50 million into Fnality International for the delivery of the Utility Settlement Coin (USC) project.
USC is a digital cash settlement asset, used to settle tokenized value transactions backed by fiat currency held at a central bank.
Andrea Melville, managing director of commercialisation and propositions for global transaction banking at Lloyds Banking Group, is also a board member of Fnality. She successfully acquired investment for Series-A funding in the consortium, the first investment in a blockchain consortium that the bank has made.
“USC is pre-funded and pegged directly to existing currency, so it’s not going to fluctuate in value like cryptocurrency,” says Melville.