Santander Reduces Branches in the UK
British press has speculated that Santander may pull out entirely from the country
- |
- Written by Banking Exchange staff
Spanish Bank Santander announced that it would reduce its full service branches in the United Kingdom noting a “rapid movement of customers choosing to do their banking digitally” with a 63% pick up in digital transactions since 2019.
The bank presently employs 18,000 full-time employees in the U.K.
While the British press including the Financial Times have speculated that Santander may pull out entirely from the country, the bank has repeatedly denied that is the case.
The UK’s unions still have a great deal of power in the country, which will make the cuts difficult.
Tagged under Management, Feature, Retail Banking, Feature3, Branch Technology/ATMs, Technology, Digital,
Related items
- Biden Rule on Buy Now Pay Later Will Not Be Enforced
- OCC Seeks Input on Challenges Facing Community Banks in Digitalization
- Direct Banks Surpass Traditional Banks in Customer Satisfaction
- Private Markets Remain High on the Agenda for Institutional Investors
- AI and Banking Experts Come Together in Chicago the Week of June 16
