Technology Spurs Innovation In Banking

By Jessica P. Crimmins, Vice President, Corporate Communications and Event Strategy, Santander US

Innovation doesn’t just happen; it has to be encouraged and nurtured by the right people, in the right environment, at the right time.

Take the drive-through window, for example. It was invented by banks in the 1940s, and the idea was later picked up by a fast-food entrepreneur.

Today there’s a drive-through for just about everything—pharmacies, gas stations, car washes, post office drop boxes.

Embracing Change

At Santander Bank, innovation is one of our six core values. We look for ways to do things better—and to do better things. This is especially important as consumers grow tired of a lack of variation in offerings among providers and want to see that banks are designing new products that address their needs and offer real choice.

Earlier this year, Santander stepped up its value-added corporate offerings with the launch of a new trade portal. This innovative online tool was designed for companies that are aiming to establish or expand their international trading operations. The portal is a comprehensive clearinghouse of information on trade trends and documentation for doing business in overseas markets. It includes country and industry-specific data, supplier and importer records, import and export flows, and a database of international trade shows.

“We’re excited to provide our clients with another advantage in navigating the global marketplace, which can be a challenging exercise for even the largest and most prepared companies,” said Mike Lee, managing director of corporate banking at Santander. “The trade portal is a perfect complement to the expertise that our trade bankers already provide Santander clients when they’re seeking to buy or sell goods around the world.”

Focus on Feedback

Developed in consultation with Santander’s local experts in major cities around the world, the trade portal gives users the tools and information they need to enter and succeed in overseas markets. In designing the platform, Santander sought to address some of the main questions facing companies, such as deciding which countries to pursue, trustworthy importers and exporters within those countries, and applicable customs and regulatory challenges.

“We’ve helped thousands of small and large firms establish themselves in foreign markets and noticed there are common obstacles to successfully establishing a trade relationship abroad,” said Eduard Casajuana, US director of international banking at Santander. “The idea behind the trade portal was to provide a venue where companies have easy access to a wealth of information and resources for doing business overseas.”

Laying The Groundwork For Innovation

Santander also created the Santander Club, an online resource providing the opportunity for Santander clients to communicate with other Santander clients around the world. These businesses can share their experiences about importing and exporting goods internationally, and find potential customers and suppliers around the world. Participants receive a complementary training course from the International Chamber of Commerce (ICC) and can take part in the various webinars the ICC offers.

For more information about Santander, please visit www.santanderbank.com or call 877-768-2265.