In 2024, Santander strengthened its position as the go-to bank for small and medium-sized enterprises (SMEs) across Latin America by building a robust digital banking platform underpinned by relentless innovation. Whether in São Paulo or Santiago, Santander stood out as the financial partner SMEs could rely on, combining cutting-edge payments, streamlined lending and advisory-led support in one cohesive, digital-first experience.
At the heart of Santander’s success with SMEs is its strategic vision to become a digital bank with branches. Across Latin America, the bank has blended digital convenience with personalised service, streamlining onboarding and product access through digital channels while maintaining an extensive physical footprint for advice and support.
In 2024, at group level, Santander had 147 million customers globally accessing products digitally, while its nearly 8,000-strong branch network continued to serve as a key touchpoint for those seeking guidance.
Core to Santander’s SME strategy is PagoNxt, where the Getnet platform continues to gain market share through innovations such as Tap On Phone, Dynamic Currency Conversion and a single-integration API for merchants in Brazil, Mexico, Argentina and Chile. Getnet processed 9.84 billion transactions in 2024, with payment volume reaching €221.8 billion – an annual increase of 7.9%.
Flexibility and efficiency
Through its Multiproduct offering – enabling multiple contracts under one notary signature – SMEs banking with Santander benefit from real-time access to limits and balances. Clients can now modify due dates for financed confirming remittances and digitally contract and manage products such as Agile Payment, Tax Loans and Import Financing via the web or app, removing the need for in-branch visits.
A new “contract” area centralises all available financial and non-financial products, including ICO sustainability-linked loans, point-of-sale bonuses and services such as Santander X, Cyberguardian and tools supporting HR automation and access to public funding.
The bank localises its strategy to reflect the unique needs and regulatory environments of each market across Latin America
Santander’s digital approach to SME banking is far from one-size-fits-all. Instead, the bank localises its strategy to reflect the unique needs and regulatory environments of each market across Latin America.
In Brazil, multiple advancements were made via PagoNxt, including the implementation of Tap On Phone, Dynamic Currency Conversion and a regional e-commerce API through its market-leading Getnet platform.
In Mexico and Argentina, the focus has been on improving client satisfaction by delivering seamless card payment experiences, including the launch of Apple Pay and Click to Pay.
Meanwhile, in Chile, preparations are under way to bring Santander’s proprietary card platform, Plard, to market – reinforcing the bank’s commitment to harmonising core systems while adapting product delivery to local customer expectations.
This tailored execution ensures that SMEs receive not only a consistent Santander experience, but one that is deeply relevant to their day-to-day operations and national context.
