We want to be worthy of our customers’ trust, reflecting our focus on best-in-class data security. We aim to use technology in a way that creates value for all our stakeholders and supports financial inclusion. Technology should help simplify our processes, and make services more accessible and convenient. It is our responsibility to ensure the highest standards of data security which will help us earn and inspire trust.
“I firmly believe technology is a powerful enabler of financial inclusion. For example, we can leverage technology to make our offers available to more customers, simplifying access to credit for first time home buyers and offering valuable opportunities to people who’ve never invested before.”
Michael Harte Chief Operating Officer, Santander UK
What this means for us
By unlocking the potential of digitalisation we believe we can help our customers and society explore new possibilities, and find new ways to overcome some of the challenges of everyday life.
We have a responsibility to use the power of technology to support financial inclusion, improve cyber security, fight financial crime and protect customer privacy and security. At the same time, we recognise that the speed of digital change makes certain sectors of society vulnerable to financial exclusion, and we’ll work to tackle this emerging issue.
Digitalisation and financial inclusion
Making our products more accessible for all our customers is a key priority. To support this, we’ve introduced a digital investment advice service.
Our Digital Investment Adviser is an online service that offers affordable high-quality digital investment advice to customers who have less experience with investing.
The Digital Investment Adviser also helps to establish whether investing is right for the customer, recommending alternative savings options if appropriate. In less than 30 minutes, through the completion of simple and interactive activities, a personal investment recommendation is offered with the potential to invest from £20 per month up to a maximum investment of £20,000.
Data protection and cyber security
Cyber security is a key priority for us. Our customers are moving increasingly to digital banking. We recognise the change in security risk this represents compared to traditional banking. In response, we’ve grown our investment in cyber security while partnering with other banks and law enforcement to share information and address threats.
The threat from cyber criminals is constantly evolving. To ensure we foster the right skills to combat this, we’re a primary sponsor of ‘Cyber Security Challenge UK’. This initiative involves a series of competitions designed to test cyber security skills of the next generation of cyber defenders.
Our Mobile Banking app includes enhanced features and security. For example, the use of fingerprints and Face ID makes it easier to access our Mobile Banking app without the need to remember credentials, while maintaining high security standards.
We work closely with law enforcement agencies, regularly sharing intelligence to help prevent and detect potential malicious activity.
We’re a founding member of the Cyber Defence Alliance, a consortium of British based banks and law enforcement agencies, whose members work collaboratively in the broader interest of the entire financial industry.
We’re also committed to improving cyber security awareness. Following an incident in which a charity was targeted with a malicious email as part of a £100,000 invoice scam, we organised an event to raise awareness amongst 50 well known UK charities.