The Santander CIB- SAP collaboration is centered on driving global transaction banking digitization as well as enhancement of management and decarbonization of activities related to the supply chain leveraging cutting–edge solutions including SAP Multi-Bank Connectivity.
Santander Corporate & Investment Banking (Santander CIB), the global division of Spanish multinational financial services company Santander, has established a co-innovation partnership with SAP Spain to accelerate the modernization of Global Transaction Banking services.
Under the agreement, the two companies will focus on developing solutions and financial tools to enhance client-to-bank connectivity to help organizations better manage supply chain disruptions while propelling decarbonization efforts. Moreover, the strategic partnership will kickstart with Santander CIB adopting the SAP Multi-Bank Connectivity, an innovative on-demand solution owned and managed by SAP connecting financial institutions and other financial service providers with their enterprise customers on a secure network.
Commenting on the company’s goal of delivering agile and efficient digital processes for clients through the SAP alliance, Jose Luis Calderon, head of Global Transaction Banking at Santander CIB, stated:
“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 helps 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 the latest technology that SAP can deliver and the depth and breadth of our product offering.”
Modernizing Banking with SAP Multi-Bank Connectivity
The first initiative of the SAP-Santander CIB alliance marks the Spanish financial service company as the pioneer bank member of SAP Multi-Bank Connectivity (MBC) from the European Union. By joining SAP MBC, Santander CIB sees to enhance the overall customer experience by delivering an efficient onboarding process for new clients that is cost-effective and seamless. In addition, the partnership intends to offer the bank’s customers from around the world next-generation invisible banking solutions by integrating Santander services within clients’ Enterprise Resource Planning (ERP) to further improve client-to-bank interactions and propel their digital transformation.
“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,” said João Paulo Silva, senior vice president and general manager, SAP South Europe and Francophone Africa.“ We look forward to seeing the positive impact it has on our customers.”
As a member of SAP Multi-Bank Connectivity, Santander CIB will have access to a secure network that offers multiple services in one single channel while enabling the deployment of new services. Aside from delivering seamless connectivity, the platform also automates financial transactions, offers a pay-as-you-go subscription model, reduces payment rejection rates, simplifies reconciliation, and drives better visibility to corporate treasury. Furthermore, the SAP solution provides connectivity to SWIFT via a managed service, wherein SAP operates SWIFT infrastructure and provides this as a service to the users of SAP MBC. Content-based routing and mapping as well as certain connectivity options are some of the integration capabilities that SAP Multi-Bank Connectivity supports.
By fostering a culture of innovation, Santander group aims to be a leader in banking technology across its global businesses. The Spanish multinational recently reported a 14% increase in net profit for the second quarter of 202, versus the same period last year, driven by higher revenues in Europe and the Americas.