UK-based financial services company Ebury has announced partnering with Banco Santander in Germany.
This partnership will enable companies in Germany to have access to international financing solutions for their cross-border transactions. The partnership's services have already been successfully tested by a number of customers. Ebury simplifies cross-border trading by providing international transactions, foreign currency hedging and corporate collection account solutions. Banco Santander brings loan offers, transaction services and trade finance solutions for small and medium-sized enterprises (SMEs) to the partnership.
According to an Ebury representative, the partners are working on ways to offer SMEs a better customer experience, for example by shortening the implementation process for customers if both companies share data and customer information. The partnership follows Banco Santander's EUR 400 million investment in Ebury in 2020 and is part of the bank's digital strategy to provide SMEs with the tools they need to expand internationally through global trade finance services. Banco Santander currently owns 50.1% of Ebury through PagoNxt, a technology-driven global payments fintech.
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