Banco Santander SA - London-based financial services and asset management company - Santander Corporate & Investment Banking inks partnership with Komgo, a multi-bank trade finance network. Says partnership is to accelerate the digital transformation of several Trade & Working Capital products. Santander CIB has become a shareholder of Komgo with a strategic equity investment. Both companies expect "to build up synergy between Komgo's cutting-edge technology and corporate client base, and Santander CIB's unique global footprint and leadership in trade finance."
Mencia Bobo, global head of Trade & Working Capital Solutions at Santander CIB: "We want to support our clients simplify and digitalize trade finance. Partnering with Komgo means we can automate communications, optimize end-to-end processes, reduce operational risk and deliver the best client experience. In addition, it will enable us to innovate and find synergy in our broad Trade Finance business."
Current stock price: 275.06 pence, up 1.5% on Wednesday in London
12-month change: up 12%
By Sophie Rose, Alliance News reporter
Comments and questions to newsroom@alliancenews.com
Copyright 2023 Alliance News Ltd. All Rights Reserved.