“The focus is to incorporate greater innovation into the products to be able to incorporate new customers and be more competitive”

Interview with Carlos Dalmau, director of International Solutions at Banco Sabadell

With more than 140 years of history, Sabadell is today one of the main banking groups in the Spanish financial system. In fiscal year 2022, the banking group closed with an attributable net profit of 859 million euros, 61,9% more than in the previous year.

---

 

The entity was a pioneer in Spain in computerizing its administrative and accounting management processes in 1968; In 1986, it introduced telephone and computer banking as new channels of communication and banking customer service; and in 1998 it launched the first Internet banking service: BancSabadellNet.  

 

After different banking integrations in the last three decades, Banco Sabadell is currently present in 14 countries and has commercial banks in Spain, the United Kingdom and Mexico.

Carlos Dalmau, Director of International Solutions at Banco Sabadell, analyzes in this interview for EmpresaExterior the most disruptive events in the banking sector and in the international business environment. 

 

What does Banco Sabadell expect from 2023, regarding its activity linked to the foreign sector? Do you predict a year of change or stability?  

 

Carlos Dalmau: “What we foresee is that it will be a year of continued growth in exports and imports, at lower levels than in 2022 but continuity at the level of focus of Spanish companies abroad. The issue of stability is not predictable; We are in an international environment of constant change but we believe that the main markets for Spanish companies will favor growth. Where we will have to keep our eyes especially focused is on the costs of materials and how price inflation affects products.”

 

 

What are the main challenges that international companies face when implementing innovation?  

 

carlos dalmau: “The focus on innovation by companies is not recent, historically companies have always invested in R&D, now it is more reinforced with a focus on both internal and external innovation of companies. Companies are aware that at the level of competitiveness it is essential to develop innovation in the development of products and the improvement of current products. Therefore the focus is incorporate greater innovation into products to be able to incorporate new customers and be more competitive in the international market.

 

What do you think are the most disruptive trends in the financial sector today? How prepared is Banco Sabadell to face them? 

 

CD: “The trends in the financial sector and in Banco Sabadell in particular are incorporate operations linked to international business into the digital operations of companies, not only the international collections and payments that are already made, but incorporating documentary operations digitally available to clients and currency operations through our Sabadell Forex case. Facilitating 24/24 operations to be able to accompany clients at all times. Another differentiating element of our entity is incorporating training courses for companies such as the Sabadell International Business Program, adapted to constructively help them develop business plans. In addition to incorporating into our international business website all those tools and information necessary to develop companies' international business."

 

What weight does innovation have in the bank's activity? What importance do you give to sustainability? What is your degree of digitization?  

 

CD: "Innovation is increasingly gaining weight in banking activity, clients demand agility and good service, so the different tools made available to them have to cover these business requirements and also incorporate the focus on sustainability, which our entity has very much in mind. Historically, we are very focused on energy and sustainability operations, an operation that uses banking instruments for both international purchases and sales, such as documentary credits, standbys and international endorsements.”

 

 

Within your sector of offering international business services, at what point do you think the Spanish company is in acquiring capabilities in this new global business scenario? 

 

CD: “It has improved significantly, Companies and their employees are increasingly better prepared, both at the level of languages ​​and knowledge of international operations. In the case of Banco Sabadell we have several initiatives that go along the lines of incorporating knowledge into companies, both the Sabadell International Business Program mentioned previously, and the Export to Grow Cluster that we have established since 2011 that remains fully in force since more and more “Companies make the international leap and need specialized support that we provide from Banco Sabadell.”

 

And specifically from your own area of ​​activity, what do you recommend to companies that it is mandatory to implement, if they have not already done so, in their business models?

 

CD: “More and more we recommend diversify international markets by companies and have plans to cover international contingencies and the most desirable thing is that they work with some anticipation of market movements or international circumstances. Another advisable aspect would be to follow the trends in the different markets to try to anticipate them. Companies are aware that 98% of purchasing power is outside Spain, therefore they have to have a focus of knowledge directed at the markets and, above all, know first-hand the markets where they are established or want to establish themselves."

 

According to your experience, does the level of competitiveness of companies from other countries compared to Spanish companies generally pose a threat at this time? Do you think that a phenomenon of loss of competitiveness of Spanish companies is occurring? 

 

CD: "The truth is that Price inflation in Spain may cause a certain risk of competitiveness in certain markets and industries.; This threat must be followed by companies that are internationalized, surely many of them in recent months have had to manage product rates in a very proactive and recurring way. But competitiveness is not just about price, Spanish companies have a lot of talent and The retention of this talent is another risk to manage to remain competitive. We must not forget that now it is not only about having a Product but also a focus on internationalization and innovation, R&D&I.