One Trade Portal is the first banking platform of this type in Poland, which provides business customers with a simple and efficient way to manage foreign trade financing and transaction banking products. One Trade Portal will provide many entrepreneurs with access to selected products and services that so far could only be used by the largest corporations.
The platform uses the competitive advantage offered by the Santander Group to the ongoing cooperation and exchange of know-how between banks operating within the Group on various markets, including in Poland, Spain, Portugal, Germany, Great Britain, North and South America. The resulting tool ensures smooth and convenient service of financial product management for local clients as well as those operating within international capital groups.
GPI AND IAI
Entrepreneurs can already use the GPI Tracker and Instant Account Information (IAI) services on the platform. The first one allows to check the status of a payment sent via the SWIFT network. The advantage of this solution is the possibility of tracking the payment more transparently at every stage – from the moment of sending the order to the confirmation of payment. The GPI Tracker service is provided by banks that have joined the SWIFT GPI initiative.
The Instant Account Information (IAI) is a service that enables real-time access to corporate current accounts at Santander Bank Polska, along with information about the current balance and transaction history. Thanks to the IAI service customers can manage their accounts around the world in real-time, e.g. convert funds on all accounts to the currency of their choice, group and classify accounts according to various parameters, for example, country, currency, or other selected criteria.
The innovation of the tool is based on the use of APIs to process information from multiple accounts and countries in the most convenient way for the user. The ability to view the accounts of foreign companies from the group of connected customers kept in the banks of the Santander Group will be made available in the coming months.
“The One Trade Portal is an extremely convenient and intuitive solution that will simplify business operations for many entrepreneurs. Especially those whose main activity is related to the export or import of goods. The portal provides solutions and services such as GPI Tracker or IAI, thanks to which it will be easier to manage payments or monitor their flow. In subsequent stages, the platform will be expanded with new, useful functionalities and services in the areas of cash management and trade finance” said Rafał Pokora, Head of Global Transaction Banking Poland at Santander Bank Polska.
The implementation of business products and services enabling comprehensive support for international transfers and currency exchange transactions in the payment proces has already been planned. The services in One Trade Portal can be used by any entrepreneur who is a client of Business and Corporate Banking or Corporate and Investment Banking at Santander Bank Polska, has an active access to iBiznes24 online banking, and buys access to it. One Trade Portal is available on the website to which the customer logs in via local online banking system – iBiznes24 using the SSO (Single Sign-On) mechanism.
Source: Bank’s Press Release from May 27, 2021