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Santander invests in trade finance network Komgo

Santander invests in trade finance network Komgo

Santander has invested in Komgo as part of a wide-ranging partnership with the digital trade finance network.

The partnership will see Santander Corporate & Investment Banking contribute expertise and tailor-made trade and working capital solutions for Komgo’s client portfolios in Europe and the Americas.

Meanwhile, Santander will take advantage of Komgo’s technology to improve client-to-bank communication and to deploy new offerings in in trade finance and commodities.

Mencia Bobo, global head, trade and working capital solutions, Santander CIB, says: "We want to support our clients simplify and digitalize trade finance.

“Partnering with Komgo means we can automate communications, optimize end-to-end processes, reduce operational risk and deliver the best client experience. In addition, it will enable us to innovate and find synergy in our broad Trade Finance business.”

The size of the strategic equity investment has not been disclosed.

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