Santander is acquiring 50.1% of the Mercury TFS through a USD 30 million investment. One third of the investment will be earmarked to subscribe for new shares, which will inject funds into the company to enable new services and boost growth in customer numbers and markets. Mercury TFS' chief executive officer and head of technology will continue to head up the company, and will continue to be partners.
Mercury Trade Finance Solutions enables Santander customers to manage their entire trade finance activity online or via mobile phone, enhancing the user experience, reducing response times and improving service quality. Mercury TFS will also enable the bank to digitalise internal process management, allowing greater control and operational efficiency. The company has 130 employees in Spain, Mexico, Chile and Colombia.
Every day we send out a free e-mail with the most important headlines of the last 24 hours.
Subscribe now
We welcome comments that add value to the discussion. We attempt to block comments that use offensive language or appear to be spam, and our editors frequently review the comments to ensure they are appropriate. If you see a comment that you believe is inappropriate to the discussion, you can bring it to our attention by using the report abuse links. As the comments are written and submitted by visitors of the Telecompaper website, they in no way represent the opinion of Telecompaper.