The FINANCIAL -- Barclays has announced the successful launch of a new digital platform in Western Europe, as part of a wider move to boost its Corporate Banking operations in the region.
The new platform is the culmination of a long-term project, with Barclays’ international corporate and institutional clients in Portugal, Spain, France and Ireland now enjoying access to an enhanced range of services. Germany is also set to join the platform later in the year, followed by other countries, allowing multinational clients to benefit from a simple, easy to manage digital corporate banking service, which complements the bank’s Investment Banking and Barclaycard Payments capabilities in Europe.
This 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 global clients with a presence in Europe. By adapting the systems from the UK, Barclays has been able to seamlessly transfer existing customers and attract new institutional and large corporate clients.
The changes have been designed to give clients the flexibility to structure their banking activity in the way that best suits them, from a location of their choice, and simplifies significantly Barclays’ offering on the continent. Clients can 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. This is underpinned by a regional support model for streamlined KYC, account opening & digital client on-boarding, client self-help capabilities & centralised multilingual service offering.
The expansion of European operations has been led by David Farrow, Head of International Corporate Banking (ICB) at Barclays, and will be managed by Andres Baltar, the newly appointed Head of Europe for ICB. Andres has expanded his leadership team in the region with the appointment of new country heads for France, Spain and Portugal, who will be tasked with developing new corporate relationships in their respective territories and improving the service experienced by existing clients.
In addition to these leadership appointments, Barclays is also attracting clients in Europe by investing in new teams, including expanding its Non-Bank Financial Institutions (NBFI) business under NBFI Head of Europe, Andy Ponsford. The NBFI growth has been boosted by hiring new specialists based in the region, who will work closely with Barclays’ existing FinTech, Insurance, Private Equity and Asset Management teams in London.