New customer portal launched by Bank of Scotland to transform global trade
Scottish businesses can get practical support and guidance to help them access new markets overseas thanks to a new initiative from Bank of Scotland.
They can now access a new International Trade Portal, which has been launched by the bank to help transform global trade for customers, allowing them to identify the international opportunities that have the most potential for their product or service.
According to the bank, it will also allow businesses to focus their efforts and identify prospects to grow overseas and the potential pitfalls they may face.
The interactive online tool will allow businesses to:
search for suppliers and buyers to work with as trading partners
view information on trading requirements and conditions for specific markets
look for real-time public or private tender opportunities around the globe
access market reports, trade shows and events for their chosen sectors and countries
view sanction checks on potential trade partners
use an import and export calculator to optimise shipping costs
view live foreign exchange rates
Head of Global Transaction Banking at Bank of Scotland Colin Walls said: “More of our businesses are trading internationally than ever before, or looking to do so for the first time, and they are telling us they want practical support and guidance from their bank to help them explore new markets and opportunities overseas.
“This is where our International Trade Portal can make a real difference. Our global gateway to international trade provides a unique and comprehensive guide for our business customers of all sizes, helping them to seize international opportunities and grow their business.”
Jo Harris, managing director, Retail Business Banking, said: “Our smallest business customers stand to gain the most from the opportunity to trade internationally.
“Small business owners often struggle to find time to invest into generating new business, which is why tools such as this are so important. The new portal will put a world of new opportunities at their fingertips.
“We hope this tool alongside our work with the Department for International Trade, will help more Scottish businesses to prosper globally.”
The portal will help deliver the Group’s commitment to support 5,000 businesses to export for the first time in 2016. The Bank is also working with the Department for International Trade on a range of initiatives to encourage British businesses to export or import.
Walls added: “There are many opportunities for British exporters to prosper globally. Our teams of locally-based relationship managers combined with our new International Trade Portal can provide the kind of insight, support and introductions that can be invaluable to firms setting out on their export journey.
“We were the first British bank to form a strategic partnership with the Department for International Trade to provide advice and intelligence to our customers, and, through our Helping Britain Prosper Plan, have committed to help 25,000 new exporters by 2020.”
The portal will be linked to the Department of International Trade’s new GREAT.gov.uk digital platform whichhelps UK businesses break onto overseas markets, and take advantage of the global appetite for UK goods and services.
By registering, businesses will become part of a brand new searchable directory of UK exporters which government will use to match their products and services with worldwide demand.