The bank was quoted as saying by Reuters: "As part of an overall commitment to providing our customers access and ability to do their banking when, where and how they want, Santander has concluded an agreement with the Post Office."
This agreement is part of a larger investment strategy of Santander UK.
As part of this strategy, the firm has revamped 40% of its branches and also invested in digital technology, reports the news agency.
The Post Office has already entered into a tie-up with Bank of Ireland to offer banking services. PO also announced that it would launch the ‘Post Office Money’ brand. Customer could gain access to this brand at its over 11,000 branches or via online, reports Reuters.
The PO intends to bring all its financial services under one umbrella with an aim to become one of the largest financial services providers in the country by 2020.
This is likely to pose a challenge to some of the UK’s largest banks, which are embroiled in scandals ranging from mis-selling loan insurance to rigging of interest rates.
Image: Santander UK head office at Triton Square in London. Photo: Courtesy of Elliott Brown/Wikipedia.
