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The new platform enables companies with foreign subsidiaries to see all their accounts in real time and manage their money better anywhere.
Spanish companies that have outfits in Brazil, Mexico, Poland, Portugal and the UK banking with Santander can already use it. It also gives companies the option of checking their other bank accounts anywhere in the world.
Madrid, 22 June 2023.
Santander is launching One Trade Multinacionales, a new money management platform that offers Spanish multinationals a condensed overview of their subsidiaries’ accounts the world over. Managed by Grupo Santander’s payments arm PagoNxt, the platform will be available through Santander online banking, without the need for additional passwords. What’s more, its simple activation procedure will reduce time to configure settings and use it.
One Trade Multinacionales offers simple, tailor-made and centralized user authorization and designation. A parent company can use it to see their accounts and other financial information in real time for subsidiaries in Brazil, Mexico, Poland, Portugal and the UK that bank with Santander. Roll-out to other Santander markets is expected soon. The platform's comprehensive dashboard can also add other bank accounts the world over.
With One Trade Multinacionales, Santander is leveraging its global scale to offer a unique service to customers who operate in markets where the bank is present. The platform is another milestone in the bank’s One Santander strategy for Europe to provide a simpler, better customer experience under a common operating model.
Santander customers who have tested One Trade Multinaciones rated it nine out of ten. They said: “Seeing every transaction on the same platform makes our day to day easier”; “Having a real-time view of vendor payments speeds things up”; “It’s a great help for audits”.
One Trade Multinacionales is already available to Santander España customers and will arrive in Chile, the US and other Santander markets in 2023 and 2024.
Santander has been operating Cash Nexus, a similar service for large corporates, for some years. With this latest solution for businesses of all sizes, Santander is reaffirming its commitment to making the best tools for Spanish SMEs to prosper.