The Santander Group has launched an ambitious strategic plan aimed at improving the situation of its British subsidiary Abbey National Bank. Last year’s purchase of the British entity has allowed Santander to increase its profit margins this year, but it has revealed its high churn rate, as well as other problems related to the need to modernize their systems or elevate their productivity. At the moment Abbey has the highest churn rate of any English bank, and only 7 of 18 million of its consumers have hired more than one financial product. This reflects the scarce profitability of the current client base and the urgent need to improve aspects such as segmentation, resource management, or cross-sales strategies. Source: El Mundo