Santander Launches Navigator Global: A Digital Gateway for U.S. Businesses to Global Markets
Businesses seeking to expand internationally can now leverage the market-entry expertise of one of the world’s most prominent banks, Santander. The Spanish banking giant has launched a novel digital platform, Navigator Global, in the United States that digitizes and simplifies the process of entering international markets.
Officially launched on Thursday, Navigator Global represents a significant step in Santander’s commitment to innovation and value addition beyond traditional banking. It’s a tool designed to help businesses explore and expand into international markets by providing step-by-step guidance, real-time insights, and a network of trusted in-market partners.
Why Navigator Global?
Speaking at the launch event in New York, Christiana Riley, CEO of Santander U.S., described Navigator Global as a “plug-and-play solution” for international expansion. The platform’s strength lies in its ability to serve as a comprehensive guide for U.S. businesses to navigate the complexities of expanding into over 35 countries across 28 diverse industry sectors.
According to Riley, the rapidly changing global trade sector presents both challenges and opportunities for small and medium-sized businesses. With its global scale and local expertise, Santander is perfectly positioned to assist these businesses in navigating these changes and seizing new opportunities. Navigator Global is a testament to the bank’s commitment to this cause.
How Does Navigator Global Work?
John Carroll, CEO of Navigator Global, explained the practical functionality of the platform to American Banker. He pointed out that businesses often struggle to identify the right contacts to facilitate their entry into international markets. Santander’s new platform endeavors to bridge this gap by providing proprietary knowledge across a range of hyper-specific sectors, from gluten-free food products to hotel bar whiskey.
Melinda Huspen/American Banker
Furthermore, the platform is open to both Santander clients and non-clients. While the bank aims to deepen relationships with existing clients, it also seeks to attract new clients through Navigator Global. The platform will be available in all of Santander’s international markets by the end of 2026.
From Santander Global to Navigator Global
Navigator Global follows in the footsteps of a pilot product launched by Santander in the U.K. in 2021, known as Santander Global. With the arrival of Navigator Global, all businesses using the previous platform will be transitioned to the new product. The platform offers two subscription tiers, standard and premium, with the latter providing access to 250 providers of services in market entry, expansion, growth, cross-border e-commerce, marketing, product compliance, customs, and ESG.
What Does This Mean for Businesses?
One of Santander’s clients attending the U.S. launch event voiced their optimism about the potential of Navigator Global. They highlighted the platform’s ability to verify and screen companies for legitimacy and provide real-time updates of market conditions. They also noted the platform’s potential to lead to significant cost savings for businesses looking to expand internationally.
By digitizing market-entry expertise and making it accessible to U.S. businesses, Santander’s Navigator Global could revolutionize the way companies approach international expansion. It embodies the bank’s commitment to innovation and value addition beyond traditional banking, offering businesses a unique, easy-to-use tool to navigate the complexities of global markets.
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