Through the alliance, Santander has become the first bank in the European Union to join SAP Multi-Bank Connectivity, a service connecting banks and financial institutions to corporations across the globe.

The partnership prioritises connectivity and new digital solutions to accelerate client-to-bank services, and will provide invisible banking solutions by embedding Santander services within corporates’ Entreprise Resource Planning (ERP).

The agreement will also enable both parties to improve user experiences by enhancing decarbonisation of industrial activities, and, developing new financial tools aimed at helping clients navigate supply chain disruptions.

Jose Luis Calderon, head of global transaction banking at Santander CIB, comments: “This partnership is a step forward in the digitalization of the solutions we provide to our clients, with a strong focus on connectivity, supply chain management and energy transition. We already have a strong transaction banking solutions portfolio in Europe, America and Asia that help our clients navigate the complexity of doing business globally. This valuable proposition comes from the combination of understanding their needs and their daily challenges, leveraging on latest technology that SAP can deliver and the depth and breadth of our product offering.”

João Paulo Silva, SVP and general manager at SAP South Europe and Francophone Africa, says: “This agreement, which brings together SAP's technology and Santander's products and services, is an example of co-innovation and demonstrates the importance both companies place on improving operational efficiency and customer experience. We look forward to seeing the positive impact it has on our customers.”

In November 2021, Standard Chartered joined the SAP Mult-Bank Connectivity solution and utilised their cloud services to improve transactional services for their corporate clients.