Innovation Description

Although relatively still new for banks, non-financial services are proving to be viable trend that banks can’t afford not to embrace. In the last 5 years 20% of banks across Europe alone have embraced the non-obligatory duty of offering non-financial services to their SMEs and business banking customers. It’s time that banks wake up and start developing innovative solutions for SME customers of tomorrow.

Santander Group has used the bases of non-financial services and expanded it on it further by taking a step by step approach to creating a digital eco-system of interconnected non-financial services. Their digital eco-system of non-financial services is currently offered to their SME customer in 15 countries.

Santander’s Trade portal helps SMEs to market their products and services abroad by offering a helping hand in the world of export and import. Trade Portal offers an online solution that provides Santander customers with unparalleled access to a wealth of international trade such as information on the best countries to trade with, trade shows, market reports and most importantly can provide details of potential buyers and suppliers around the world.

Building on the success of the Trade Portal and with the idea to help their SME even further they then introduced the Santander Trade Club, an online network of SME customers across their 15 footprint countries. The Trade club allow SME customer find business opportunities by receiving automatic matchmaking with other counterparts base on their products and services.

Finally, Santander has taken this further by boost user engagement and promotes its extensive trade services for SMEs. Such an initiative gives the already existing 10,000 members of Santander Trade Club the opportunity to attend a broad selection of interactive seminars aimed at promoting cross border trade.

Innovation Details

Organization: Santander UK
Country: UK
Service Provider: n/a
Project Sponsor: n/a
Project Manager: n/a
Link: https://www.santandercb.co.uk/solutions/international/trade-portal

Organization

Santander UK plc is a British bank, wholly owned by the Spanish Santander Group. It’s time that banks wake up and start developing innovative solutions for their SME customers of tomorrow.
Santander Group has used the bases of non-financial services and expanded it on it further by taking a step by step approach to creating a digital eco-system of interconnected non-financial services. Their digital eco-system of non-financial services is currently offered to their SME customer in 15 countries. Offering non-financial services to SME and business banking customers.

Implementation

  • Time-to-market: n/a
  • Process steps and timeline: n/a
  • Current status and progress: Launched in November 2013
  • Next steps and further developments expected: n/a

Results

KPIs:

  • 40,000 registered users
  • 150,000 visits per month
  • 100 new leads per month
  • 50 request for services per month