- Santander launches new Breakthrough service with an unparalleled suite of support for the UK’s most ambitious businesses
- SMEs that describe themselves as ‘ambitious’ are more likely to grow, trade globally, hire staff and need a dedicated relationship service – but are underserved by the current market
- The launch was announced at the Santander SME Summit in Leeds on March 25th – part of Santander’s Breakthrough Moments Box UK tour taking place across 2015
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
[1] Research conducted by independent market research firm Illuminas between 30th October and 28th November 2014 among 800 SMEs via a telephone methodology
The information contained in our press releases is intended solely for journalists and should not be used by consumers to make financial decisions.
About Us
Santander Corporate & Commercial provides dedicated relationship banking support to businesses with a turnover of more than £250,000. It is part of Santander UK, a leading financial services provider in the UK which offers a wide range of personal and commercial financial products and services. At 31 December 2014, Santander UK serves around 14 million active customers with c. 20,000 employees, 921 branches and 66 regional Corporate Business Centres. Santander UK is subject to the full supervision of the Financial Conduct Authority (FCA) and Prudential Regulation Authority (PRA) in the UK. Santander UK plc customers are protected by the Financial Services Compensation Scheme (FSCS) in the UK.
Banco Santander (SAN.MC, STD.N, BNC.LN) is a retail and commercial bank, based in Spain, with a presence in 10 main markets. Santander is the largest bank in the euro zone by market capitalization. Founded in 1857, Santander had EUR 1.34 trillion in managed funds, 107 million customers, 13,225 branches – more than any other international bank – and 183,648 employees at the close of June 2014. It is the largest financial group in Spain and Latin America. It also has significant positions in the United Kingdom, Portugal, Germany, Poland and the northeast United States. In the first half of 2014, Santander registered EUR 2.756 billion in attributable profit, an increase of 22% from the same period of the previous year.
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