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Santander CIB & SAP join forces to accelerate digitalization of Global Transaction Banking services

Santander CIB & SAP join forces to accelerate digitalization of Global Transaction Banking services | Fintech Finance

Santander Corporate and Investment Banking (Santander CIB) and SAP Spain reached an strategic partnership with the aim to boost digitalization across Global Transaction Banking services by co-innovating in solutions around the concept of invisible banking, improving client-to-bank connectivity, providing financial tools to help its clients worldwide navigate supply chain disruptions and accelerating the decarbonization of their industrial activities, reinforcing the way the bank provides the best-in-class service to support the digital transformation of its clients.

The agreement will streamline how Santander CIB approaches its clients, by leveraging the unique capabilities and expertise SAP can offer and co-innovate in value added solutions with multiple benefits for them: from streamlining the connectivity to value-added services related to counterparty risk, supply chain analytics, among others.

As a first step, Santander CIB has enhanced its connectivity capabilities becoming the first bank in the European Union to join SAP Multi-Bank Connectivity (MBC). SAP MBC brings more efficiency to the onboarding process of new clients into Santander CIB’s footprint, since the deployment is secure, quick, and easy. This will improve the overall client experience, including costs and implementation times to get a seamless connectivity experience.

This strategic partnership will enable Santander CIB to progress in providing invisible banking solutions to its clients, by embedding Santander services within corporates Enterprise Resource Planning (ERP) with the ambition of transforming the client-to-bank interactions for the whole suite of GTB products.

Jose Luis Calderon, head of Global Transaction Banking (GTB) at Santander CIB, said: “This partnership is a step forward in the digitalization of the solutions we provide to our clients, with a strong focus on connectivity, supply chain management and energy transition. We already have a strong transaction banking solutions portfolio in Europe, America and Asia that help our clients navigate the complexity of doing business globally. This valuable proposition comes from the combination of understanding their needs and their daily challenges, leveraging on latest technology that SAP can deliver and the depth and breadth of our product offering.”

João Paulo Silva, SVP & General Manager, SAP South Europe and Francophone Africa, stated: “This agreement, which brings together SAP’s technology and Santander’s products and services, is an example of co-innovation and demonstrates the importance both companies place on improving operational efficiency and customer experience. We look forward to seeing the positive impact it has on our customers”.

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