Santander UK plc is one of the leading personal financial services companies in the United Kingdom with more than 15 million customers serviced by a network of 1200 branches and with approximately 24,000 employees. It is the third largest bank in the UK with reference to the value of deposits and the 2nd largest in terms of mortgage accounts held.
Santander boast an award-winning, innovative range of products and services for both personal and business customers.
Personal banking customers can choose from a range of Current Accounts, Savings Accounts, Credit Cards, Un-secured Personal Loans, Mortgages and Insurance products. To enable customers to access their accounts whenever they need and manage them more effectively, Santander offer internet and mobile banking as well as telephone banking for the majority of accounts – not forgetting any of the 1200 high street branches!
Business and Corporate customers have access to a similar product range – current and savings accounts, loans (secured and un-secured) and insurance products. The business specialist teams can provide advice and comprehensive support to starting or developing your business. One of the newest services available to business banking customers is the mobile card acceptance terminal – proof that continual research and development is key to the success of the company.
Santander’s customer base can be varied. Ultimately, the customer has a need for the provision of a financial product or service whether that be in the form of banking, saving, lending or simply servicing their account whenever or wherever they want.
“ Santander UK’s vision is to be the best bank in the UK for our people, customers and shareholders.”
By 2015, Santander’s goal is to have 4 million customers in the UK holding their primary banking account with them and being completely satisfied with the product and service, to double their share in the corporate banking sector, to be the best bank to work for in the UK and last but by no means least – be ready for listing on London Stock Exchange. Perhaps a tall order but by adopting the core principles of becoming Simple, Personal and Fair in every aspect of the business, Santander believe that these goals are achieveable.
There are however factors out-with Santander’s control that will inevitably impact upon the organizations performance. For example, legal factors include regulations imposed by the Financial Conduct Authority and statutory requirements contained in Anti-Money Laundering legislation.
Developments in technology also impact upon the organization for example, the significant investments required to develop mobile banking applications etc.
Socially, the industry must adapt to be-fit the needs of modern-life and provide access for customers whenever and wherever they choose.
The impact of the economy has been significant in recent years. The Recession has impacted upon interest rates and borrowing facilities. Financial organizations are awash with savings and as such have been forced to slash rates in an attempt to recover the lack of lending - which is where banks make the significant part of their profits.
Santander UK PLC is a traditional, hierarchial organization with many layers and is very clearly structured by function. Decision-making is centralized and is carried out by the top layer of management who have tight control over each division. Within each of the business functions, there are sub-divisions allowing the business to be managed much more strategically with the required levels of expertise in each area.
For example, the People and Talent function of the business look after all aspects of recruitment, retention, development of staff as well as rewards and benefits whilst ensuring that all current regulations and legislation are adhered to.
The Internal Audit function, supervise and test the effectiveness and level of adherence to the...
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