Santander Consumer Finance (SCF) plans to expand its presence in the U.K. leasing sector after acquiring full-service fleet management company CLM Fleet Management.
CLM has 40 years of experience managing fleet vehicles for corporate customers, while Grupo Santander has been working to position Santander as a major provider of leasing agreements to fleets operating company cars across Europe, the companies said in a Monday (Oct. 14) press release.
“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,” Santander Consumer UK Sales Director Adam Harley said in the release.
CLM Fleet Management CEO John Lawrence said in the release: “The CLM team are excited to be playing a key role in supporting Santander Consumer Finance’s growth within the U.K. leasing sector through our comprehensive range of fleet management solutions.”
In a separate move, Santander expanded its small business offering to all auto dealers using its platform in the United States by allowing small business owners and entrepreneurs to finance vehicles through its consumer banking division.
The program in the U.S. is aimed at businesses with fewer than 10 vehicles in their fleet and is designed to address a “significant” market gap, the lender said.
“Dealers have expressed a strong need for more robust financing solutions, and small business owners have often been limited in their choices,” Santander Consumer President Betty Jotanovic said at the time in a press release. “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.”
In August, Santander teamed up with Amazon to launch a new Amazon Visa card in Germany, enabling users to earn rewards while shopping on and off Amazon’s Germany website. Rewards are redeemable from Amazon.
“Cardholders can pay for their purchases quickly, intuitively and securely through Zinia, Santander’s consumer finance platform, and they are able to choose between full and revolving payments anytime,” according to a press release issued at the time.
The post Santander Acquires CLM Fleet Management to Expand UK Leasing Business appeared first on PYMNTS.com.
