Barclays launches digital corporate banking platform in Europe
Written by Hannah McGrath
Barclays has launched a digital platform for its corporate banking division in Western Europe to support multi-country banking.
The new platform upgrade will enable international and institutional clients of Barclays based in Portugal, Spain, France and Ireland to access new digital corporate banking services, with Germany lined up to join next year before expanding to other European countries.
The platform has been designed to offer clients greater flexibility in the way their banking is structured, from a location of their choice, and draws upon processes and experience of corporate banking clients in the UK.
The expansion has been led by David Farrow, head of international corporate banking (ICB) at Barclays and will be managed by Andres Baltar, who has been appointed head of Europe at ICB.
The digital channels made available to clients include cash management, trade & working capital and information services in 25 countries, processed through a combination of Barclays offices and partner banks.
The bank will also have in place a regional support model for streamlined Know Your Customer (KYC) processes, account opening and digital client on-boarding, client self-help capabilities and centralised multilingual service offering.
As a result of the upgrade, clients can benefit from a consistent set of digital channels across cash management, trade & working capital & information services in 25 countries through a combination of Barclays offices and partner banks.
Farrow said:“We’re a transatlantic bank, so complementing our strength in the UK and US with a comprehensive European proposition allows us to meet the needs of our global clients more effectively.
“Many of the companies we work with have a presence in a number of European countries, which is why making sure the new platform is standardised across the continent is so important.”