British multinational bank Barclays is strengthening its corporate banking operations in Western Europe with a new digital platform developed to support multi-country banking.
Barclays bank
The new digital platform is result of long-term project with its international corporate and institutional clients across Portugal, Spain, France and Ireland. Germany is expected to join later this year, followed by other countries.
The new service will enable its clients to use its digital corporate banking service, which complements the bank’s investment banking and Barclaycard Payments capabilities in Europe.
Barclays said the enhanced platform development has been driven by a commitment to introduce products and processes that are already helping the bank’s UK Corporate Banking clients to those domiciled in Europe and to worldwide clients with a presence in Europe.
The London-based bank stated that the changes have been designed to give its clients the freedom to organize their banking activities to the ways that best suit them.
Clients are claimed to 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.
The expansion in Europe will be led by Barclays international corporate banking (ICB) head David Farrow and will be managed newly appointed Head ICB Europe Andres Baltar.
The leadership team has been expanded in the region by appointing new country heads for France, Spain and Portugal.
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.
“It’s already making banking simpler for many of our clients, and this ease of use will grow further as we integrate more countries.”
Ebury, a financial services provider for business in the UK, stated that it was able to grow across Europe, by taking advantage of Barclays’ capabilities on the continent.
Ebury wholesale banking relationship director Mark Hewlett said: “The Barclays European proposition has enabled us to effectively expand our banking network across the continent, using the same services we enjoy in the UK.
“Our recent collaboration with Barclays in directly connecting to the Faster Payments scheme is a great example of how we can make the most of the evolving landscape to provide benefits to our clients and ourselves as a client of Barclays. A real win/win relationship.”