The chief executive of Santander UK’s Navigator Global platform has said it is set to launch across nine markets in a matter of months, in an effort to bring comprehensive support and local expertise to SMEs looking to trade internationally.
Navigator Global is a digital platform that provides businesses with access to verified service providers and local experts, as well as real-time market intelligence, helping firms overcome barriers to developing cross-border operations.
The bank announced this month that following a successful pilot in the UK, during which it said it helped more than 2,500 businesses expand cross-border operations, the platform would be launched in more than 40 markets over the next four years.
Navigator Global chief executive John Carroll told GTR that following positive feedback from that pilot, the bank “decided we needed to make this global”.
“We’re fortunate that at Santander, we can immediately roll this out to nine markets in the coming months, and we are also going to be launching beyond those nine by partnering with licensee banks in other markets,” he said.
The launch comes as Santander’s latest Trade Barometer, published on November 18, showed that 55% of UK businesses are taking steps to bring supply chains closer to their home market.
Since 2023, around 40% of UK companies’ supply chains have relied on China, according to Santander data. Of those, the majority have now said they are seeking to relocate or diversify supply chains to reduce dependency on the country, the Trade Barometer found.
But for Carroll, establishing a presence in alternative markets requires more than just financial support.
“If you ask an SME what they want from a bank, they’ll probably say they want payments on time and they want trade finance,” he said.
“But a chief executive of an SME also needs to know which markets they can sell their products in, how to achieve growth, and what regulatory and logistical issues there are both internally and overseas.”
As well as offering detailed guidance to these companies, Navigator Global “links companies to verified providers that can help with product certification, labelling requirements and so on”, he said.
“On top of that, we have a bureau of 20 people around the globe who can provide intelligence about exactly what is happening in the 35 markets they cover. So you’re not just getting a digital platform, you’re getting the human touch.”
Navigator Global is available as an end-to-end or modular service, Carroll explained, with standard and premium tiers.
Its offerings also include a growth accelerator, which can show where demand is strongest for a particular product, and support with local and virtual events as well as global trade fairs.
