Partner Article

Blockchain Technology to Enhance International Payments

At the close of the second quarter of 2016, Santander became the latest bank in the United Kingdom to embrace blockchain technology. With a move that is designed to minimize the time taken in processing international payment, Santander seems to be taking their technological stands a notch higher. Previously, other banks like Barclays have experimented with this technology in facilitating derivative trading.

Following Santander’s heavy investment in Ripple, their tech staffs have been using a trial iPhone app to demonstrate the application of digital ledge technology in the highly changing financial sphere. According to the head of customer and innovation, SiggaSigurdardottir, their company aims at providing a simple, fair and more personalized banking experience to its customers. He believes that the newly embraced blockchain technology will play a pivotal role towards achievement of their core goals in addition to providing better customer services. ‘It will add value by creating more choice and convenience’, he concluded.

Technological Hub

Earlier in the year, Santander had launched a voice assistant for its banking application. By doing so, it became the first UK high street bank to embrace voice assistant technology, thereby giving their customers a more interactive and user-friendly banking platform. Until March 2016, the voice application, which takes advantage of iPhone’s Siri, had only been rolled out to UK clients. It is expected that the technology will be rolled out to other countries where the bank has branches.

This pioneering technology makes it easy for the customers of this high street bank to pull transactions and process the requests of users in order to find finer details of charges. If used appropriately and embraced by many of its customers, the technology is bound to become an essential component of the banking system. Similar to Siri, the new banking app has the capabilities of answering direct questions like ‘How Much did I spend on Christmas Day?’ With this technology, it is possible for transactions to appear in real time giving finer transactional details like total money spent per period, cash back received, and the name of the retailers.

Inspiring the Future

For a bank that boasts of leading financial services in Europe, there is no better way of promoting their continuous growth than embracing cutting-edge technology. The bank is reported to have more than 15 million clients across its network of branches in the European sphere. With the recent technological enhancements and promise of better future, there is no doubt that the numbers are bound to grow. Currently, the bank has its primary operations in Europe and is still part of the giant Spanish BancoSantander. Santander offers three major banking services, which include retail, commercial, and global corporate banking.

The bank makes it even easier for customers to get in touch with their customer care team. Using reliable Santander contact information like 0844 776 9683, you can put a direct call and talk to one of their agents. With such a support customer service call centre and innovative technology, the least you can do is to take advantage of the bank.

This was posted in Bdaily's Members' News section by Charlie Brown .