Santander launches new service for ambitious businesses
Santander Corporate & Commercial, the leading challenger bank in the UK, yesterday announced a new suite of services and products for the country’s most ambitious businesses. The launch is part of Santander’s plan to further disrupt and enhance the UK business banking market, and double its current SME market share to 10% by the end of 2016.
Based on four years’ experience of working closely with UK businesses – including hundreds of fast-growth SMEs under the Santander Breakthrough programme – the new proposition from Santander is built around five key service ‘pillars’ that will look to accelerate the business growth plans of more ambitious SMEs: Knowledge; Talent; International; Connections; and Finance. The new service will retain the Breakthrough brand but significantly expand on the success of the previous initiative.
Recent research conducted by Santander Corporate & Commercial1 found that around a third (36%) of UK firms describe themselves as ‘highly ambitious’ and that this segment are more likely to grow, trade globally, foster positive networks and partnerships, and hire more staff. The study found that increasing their customer base is their primary business aim; it also revealed that they need a dedicated relationship-based banking service, a programme of focused support, and are more likely to switch banks in the search for service.
‘International’ is a core pillar under Breakthrough given that trading internationally and exporting, as well as developing relationships with overseas suppliers, has become a key consideration for many UK businesses looking to grow. The research found that 56% of highly ambitious businesses already trade internationally and a quarter (23%) said they will look to expand further into international markets in 2015.
To help businesses trade internationally, Santander offers a range of unique services such as the online Trade Portal and the Trade Club – a network of five million SMEs based all over the world that bank with Santander.
Marcelino Castrillo, Head of SME at Santander Corporate & Commercial, said: “We have developed an unparalleled understanding of what the UK’s most successful and ambitious businesses need from a banking partner, and have brought this together into our new Breakthrough proposition. For example, the Trade Portal offers incredible insights into exporting opportunities while our unique Santander Universities and internships programmes are focused on connecting businesses with the right employees.
“Ambitious SMEs are the beating heart of the UK economy – they are more likely to expand, innovate and trade across borders. Santander has unique strengths that can help meet these needs, including innovative financing solutions and a relationship banking ethos built on our Simple, Personal, Fair principles. By creating a distinctive, unique and innovative programme, tailored to the needs of ambitious SMEs, we are confident that we will become the bank of choice for ambitious SMEs.”
The new Breakthrough service was announced at Santander’s SME Summit in Leeds, a one-day networking event discussing key trends in the SME sector and showcasing Santander Corporate & Commercial’s support for UK businesses. The summit is part of a UK tour taking place across 2015 which will see Santander’s portable Breakthrough Moments Box visit key towns and cities in the UK, offering insights, advice and events for business owners. Further information about the Tour can be found at www.santandercb.co.uk/knowledge-hub/events
Further information about Santander’s Breakthrough service can be found at http://www.santandercb.co.uk/breakthrough
