SANTANDER UK
transformation utilising the Digital Eco-system to enable a digital future
As Santander UK accelerates its digital journey it has invested £ 332 million for the transformation of services to make life easier for its 14.3 million active customers which includes 6.3 million digital customers and 1,600 new active mobile users per day .
Digitising the bank ‘ Digitise the bank for improved efficiency and returns ’ is identified as one of Santander ’ s four strategic priorities for its Corporate and Commercial business which include :
• Continue simplifying , digitising and automating the bank
• Radically improve technology and operations through innovation and optimisation
• Ensure capital discipline and Risk- Weighted Asset management
• Maintain prudent approach to risk
Holman outlined the first part of the digital transformation which has included digitising the building blocks for all of their products and services such as , onboarding customers , assessing credit risk and focusing on financial crime . This has enabled teams to become more agile by removing duplication and increasing automation .
One example of how the digital transformation is working for customers is the fact it used to take an average of 12 days to open a new corporate banking account – now it can take just two days . The process is 100 per cent digital , facing the customer , as they have gone from using 39 different pdf forms to one dynamic online form .
“ We ' ve been working on this process for four years and it helped to shape the principles in the corporate commercial bank that we ’ ve used as guidelines with which to execute our digital transformation , and
50 May 2021