Santander to launch SME growth platform

Spanish banking giant Santander is planning the roll out of a new international growth platform for SMEs.

The platform, which is being developed by Japanese firm dentsu as part of a five-year deal, aims to simplify international trade for businesses around the world.

Santander will launch the platform in 45 markets around the world, including 10 core markets for the bank, alongside additional markets related to its alliance banking partners.

The bank said the move would provide businesses with a “digital-first experience”, with access to new connections through exclusive discounts and in-market providers that provide bespoke solutions.

The platform is currently scheduled to launch in the second quarter of 2025.

John Carroll, head of international and transactional banking at Santander, said that over the past five years the bank has created a “revolutionary international proposition” that has broken the mould for traditional banking customers.

“It’s been fundamental in shaping international trade for UK businesses and has allowed us to support them in new international markets,” he continued. “Now, it’s our time to export. We’re ready to take the support we can offer to the next level and help more businesses than ever before across all corners of the globe.”

The design, build, operations and marketing of the platform will be managed by dentsu and powered by its technology partners including Salesforce, Adobe and Amazon.

Last month, Santander launched its digital banking platform Openbank in the United States, marking its first nationwide retail banking offering beyond its northeastern branch network.

The launch will initially offer a high-yield savings product with a competitive rate of 5.25 per cent, surpassing rates offered by rival digital banks such as Goldman Sachs’ Marcus, which currently provides 4.1 per cent on its online savings account.

The digital bank will operate on Santander’s proprietary technology platform, allowing customers to open accounts through the Openbank mobile app or website in as little as five minutes.

Additional banking products are planned for rollout throughout 2025.