Barclays unveils new digital platform in Western Europe
Barclays has launched its 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 getting access to more services. Germany is also set to join the platform later in the year, followed by other unspecified countries.
By adapting the systems from the UK, Barclays says it has been able to transfer existing customers and attract new institutional and large corporate clients.
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.
Farrow says: “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.”
The digital channels are across cash management, trade and working capital, and information services in 25 countries through a combination of Barclays offices and partner banks.
In addition, the bank states that it has expanded its non-bank financial institutions (NBFI) business by hiring new specialists based in the region. These will work with Barclays’ existing fintech, insurance, private equity and asset management teams in London.
In other news, earlier this month Barclays became the “first” UK bank to allow customers to bring their other current accounts into its mobile banking app. With competition so intense, banks are trying to stand out and play a game of constant one-upmanship.
But in less happy news, last week Barclays online banking in the UK went down… yet again.