The financial technology platform, Ebury announced a partnership today with Santander Germany, one of the prominent financial services providers in Germany, to support businesses in the country with international trade.
The new partnership has been formed to offer SMEs in the region a comprehensive global financial solution to make international trade simple. Ebury and Santander Germany added that the mentioned partnership has already been successfully tested by a number of clients.
Through the latest collaboration, the onboarding process time for clients has been reduced to as little as 24 hours. Ebury is working on the simplification of cross-border trade. The partnership will allow clients to take advantage of the combined services of Ebury and Santander Germany.
“We are delighted to be partnering with Santander to improve services for businesses in Germany who want to trade internationally. Combining forces will allow clients to benefit from Ebury’s agility as a Fintech and its specialist international transaction services alongside Santander’s significant lending capabilities. Together, we expect this to be the start of a deep and enduring partnership, and we are already looking at additional ways of supporting SMEs in Germany and delivering a superior customer experience via this partnership," Nils Hennemann, Country Manager of Ebury Germany, said.
Santander’s Investment in Ebury
Banco Santander, via PagoNxt, a technology-focused global payment fintech, owns 50.1% of Ebury. The banking giant announced a significant investment in Ebury last year. According to Santander, the bank’s investment in the financial technology firm is part of its digital strategy.
“This collaboration heralds a major step forward for SMEs in Germany as we join our strong lending capabilities and banking solutions with Ebury’s specialist technology to create a wholesale banking platform to make international trade more straightforward. Banco Santander’s investment via PagoNxt in Ebury last year is evidence of the potential we see from harnessing the abilities of traditional banks and best-in-class fintech,” Peter Stindt, Head of Business and Corporate Banking of Santander Germany, commented.
