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Barclays Launches Portal for European Corporate Clients


UK-based Barclays is to launch a digital corporate banking portal, according to reports in IBS Intelligence. The solution is intended expand the services the bank already offers in the UK to 25 new markets within the EU. On the new portal, the bank’s European clients will be able to access cash management, working capital management as well as trade and information services. The expansion appears to be aimed at minimising disruption during Brexit, which is expected to impact corporate banking and financial management for businesses with operations in both the UK and EU. However, Barclays’ announcement does not explicitly mention the UK’s upcoming exit from the EU. “We’re a transatlantic bank, so complementing our strength in the U.K. and U.S. with a comprehensive European proposition allows us to meet the needs of our global clients more effectively,” said David Farrow, head of international corporate banking at Barclays and leader of the European expansion. “Many of the companies we work with have a presence in a number of European countries, which is why making sure the new platform is standardized across the continent is so important. It’s already making banking simpler for many of our clients, and this ease of use will grow further as we integrate more countries.” The initiative will also be managed by Andres Baltar, who was recently appointed head of Europe for the bank’s international corporate banking unit.