Banking News

Santander to launch digital-only bank

Santander to launch digital-only bank

(15 May 2018 – UK) Santander is preparing to target UK SMEs with the launch of a standalone digital unit in the coming months.

The Spanish bank’s new offering will provide smaller firms lending products but also other services such as help with payrolls and pensions.

The proposed service was first outlined in October as one of four independent “speedboat” digital units being developed by the bank, however few details were released at the time.

A bank spokesman said, “We are working on a project to build an open digital financial services platform for SMEs.”

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