Santander Consumer Finance (SCF) has taken a significant step to enhance its presence in the U.K. leasing market by acquiring CLM Fleet Management, a full-service fleet management company with 40 years of experience managing corporate fleet vehicles. This acquisition aligns with Grupo Santander’s strategy to establish itself as a major provider of leasing agreements for company car fleets across Europe.
Strategic Growth in Leasing Solutions
Adam Harley, Sales Director for Santander Consumer UK, emphasized the benefits of integrating CLM Fleet Management’s resources and expertise with SCF’s existing capabilities. He stated, “By integrating CLM Fleet Management’s expertise and resources with our own, we are positioned to offer an expanded range of leasing solutions, catering to a broad customer base and enhancing our service capabilities.”
John Lawrence, CEO of CLM Fleet Management, expressed enthusiasm for the collaboration, noting that the CLM team is eager to contribute to SCF’s growth within the U.K. leasing sector through their comprehensive fleet management solutions.
Expansion into Small Business Financing in the U.S.
In addition to the acquisition, Santander has also broadened its small business offerings in the United States. The bank is now allowing small business owners and entrepreneurs to finance vehicles through its consumer banking division, targeting businesses with fewer than 10 vehicles in their fleet. This initiative aims to fill a notable market gap, as many small business owners have faced limited financing options.
Betty Jotanovic, President of Santander Consumer, remarked on the necessity of more robust financing solutions for small businesses and auto dealers. She noted, “Dealers have expressed a strong need for more robust financing solutions, and small business owners have often been limited in their choices. By offering a full spectrum of vehicle financing options, we are making it easier for entrepreneurs to grow their businesses and for dealers to better serve their customers.”
Recent Collaborations and Innovations
In a move to enhance its consumer finance offerings, Santander also partnered with Amazon in August to launch a new Amazon Visa card in Germany. This card enables users to earn rewards while shopping both on and off Amazon’s German website. Cardholders can pay securely through Zinia, Santander’s consumer finance platform, and have the flexibility to choose between full and revolving payments.
Conclusion
Through the acquisition of CLM Fleet Management and the expansion of its small business financing in the U.S., Santander is positioning itself as a significant player in the leasing and auto financing sectors. These strategic moves not only bolster its service offerings but also reflect a commitment to meeting the diverse needs of corporate and small business customers in both the U.K. and U.S. markets.
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