Santander launches international expansion platform
Santander UK has launched Santander Navigator, a digital subscription platform to support UK companies looking to expand internationally.
The new platform brings intelligence and tools collated by Santander Corporate & Commercial Banking’s international team to help companies overcome trade-related obstacles and to understand the various attributes of doing business in a new market, the bank said in a statement. Businesses can sign up and pay a subscription to access a personalised service, based on their individual needs. The service is open to all companies, whether or not they already are a Santander client.
A 12-month subscription costs £3,500, which can be paid annually, quarterly or monthly. Santander is offering a 50% discount to companies that generate up to 15% of their current turnover internationally as part of the launch.
Santander said that, since starting its first Trade Barometer in 2017 to understand the obstacles and challenges facing UK companies when it comes to doing business overseas, it noticed the same key issues coming up in responses: these include how to find new markets and opportunities overseas; how to navigate the local bureaucracy and regulation, which can differ significantly between countries; dealing with logistics, supply chains and freight issues; and how to get paid once operational.
The Navigator platform allows companies to access detailed country profiles with intelligence ranging from key macro-economic indicators to analysis of specific sector trends. They can also follow ‘ready to trade’ checklists, and learn more about specific regulations needed to take their products to a new market. Finally, businesses can meet like-minded companies and trading partners in the community section, negotiate better rates or more sustainable routes for their finance, and sign up for events and webinars tailored to specific countries and sectors.
John Carroll, head of international & transactional banking at Santander UK, said: “It’s been two years in the making and we’re extremely excited to be launching something that is truly unique in helping businesses save time and money as they look to grow internationally. This is more than just a roundtable or a seminar, it’s a tailored growth strategy totally personalised to the business, its sector and based on specific insights and solutions we have curated in the local market.”