Santander launches unique digital platform to help UK companies navigate international expansion
Santander UK is this week launching Santander Navigator, a digital subscription platform to support UK companies with all their international growth needs. The new platform, a first from a UK bank, combines all the previous experience gained from supporting UK companies to expand overseas in one easy to use online system.
The new platform brings together an international ecosystem of expertise and knowledge which Santander Corporate & Commercial Banking’s international team has collated to help them overcome trade-related obstacles and to understand the various attributes of doing business in a new market. Whether they are existing Santander clients or not, businesses can sign up and pay a subscription to access a personalised service, based on their individual needs and to help achieve their international expansion and strategy.
John Carroll, head of international & transactional banking, Santander UK said: “We believe Santander Navigator is a global first. It is a true end-to-end proposition to support businesses on their international growth journey and a fantastic example of how we’re innovating and introducing digital solutions that make businesses’ lives easier.
“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.”
In 2017, Santander created its first Trade Barometer to understand and track the obstacles and challenges facing UK companies when it came to doing business overseas. Over and again, the same key issues were highlighted including 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 finally once operational in those new markets how to get paid. Santander Navigator was created to help companies find the support, specialists and skills to overcome these challenges.
Prior to the platform, Santander’s proposition has been manual and bespoke, but even so in the last four years we have helped over 750 individual businesses to successfully enter new markets and find new buyers. Santander Navigator will now allow the team to scale up and digitise this service, reach more businesses, and keep improving the scope of our value-added content and information.
As part of the launch, Santander is offering companies that turnover up to 15% of their current turnover internationally, 50% off the subscription fee, enabling ambitious businesses to achieve their international growth strategy, while at the same time supporting the UK government’s target of £1tn in UK exports.
Also on the platform, businesses can meet like minded companies in the community section, negotiate better rates or more sustainable routes for their finance and sign up for insight events with their subscription. They can follow the ‘ready to trade’ checklist, and learn more about specific regulations needed to take their products to a new market.