The 'Welcome Hub' of Banco Sabadell is already a benchmark for the international community

Last January, Banco Sabadell opened a new office specialized in foreign residents, totally innovative in the financial sector, at number 456 of Avenida Diagonal in Barcelona. Under the name of Welcome Hub, the center was inaugurated with a team of twelve specialized bankers that has had to be expanded to fifteen professionals thanks to the good reception of the branch, which already has a base of more than 11,000 clients.

The bank is fully satisfied with the balance of these first months of operation of the Welcome Hub, which they expect to accelerate its growth throughout 2023 thanks to the increasing awareness of this office specialized in the large international community residing in Barcelona. "The great lever of the Welcome Hub is the recommendation of the clients themselves; word of mouth allows us to register high growth every month and we are convinced that 2023 will be the year of ratification of this success," highlights Roger Pi, director of the Welcome Hub.

According to the executive, the great indicator of the success of this specialized office is the degree of customer satisfaction, who rate the service with a 9.1, well above the sector average and also higher than the global rating obtained by Banco Sabadell. "No one else in Spain has a similar concept in the financial sector; the balance of the first ten months of operation is excellent", assures Pi. Banco Sabadell, the entity recalls, leads the Spanish market for international private clients and is also a leader in the business segment, a position that this new center contributes to consolidate.

With an area of 950 square meters spread over three floors, the Welcome Hub, located on Diagonal with Paseo de Gràcia, is exclusively aimed at all types of international clients, whether expatriates, young students, entrepreneurs or professionals who have moved to live in Barcelona; foreign investors who want to invest in the country or non-resident companies that need to have a local account. "It is estimated that 29% of Barcelona's population is of foreign origin; the city stands out for its ability to attract talent, with continuous new arrivals for whom we want to be a benchmark in providing financial services," says the banker.

The fifteen professionals at the Welcome Hub can assist clients in eight languages, with English, French, and German being the most used languages, as the majority of clients are European, followed by North Americans and those from Arab countries. Roger Pi highlights the possibility of opening a current account in 24 hours with just a passport, an element that differentiates them from most banks. He also assures that the conditions applied to clients are the same as those obtained in a regular Banco Sabadell branch, meaning no surcharge is paid, but "a personalized and highly specialized service" is obtained.

At the Welcome Hub, there is no cash service, and it is necessary to make an appointment. When the client arrives at the branch, their manager receives them, and the service is carried out entirely in private rooms equipped with technological infrastructure that allows, for example, contacting lawyers or other types of professionals located in the new resident's country of origin via videoconference. It is also common to hold these types of virtual meetings before the client's arrival in Barcelona. "These foreign professionals and their families greatly appreciate the personalized advice and that we accompany them throughout the entire process," explains Pi, who points out that the managers are experts in taxation, another key element for this group.

Along with opening current accounts and contracting insurance and savings management products, the strong point of the Welcome Hub, according to its director, are mortgages. Through collaboration with real estate agents and relocation companies, Banco Sabadell managers accompany this client profile in various non-financial matters, but which are a priority for the expat community, such as finding a home, a school for their children, or contracting health insurance.

It is estimated that 29% of Barcelona's population is of foreign origin; the city stands out for its ability to attract talent

According to data from the latest census ---corresponding to 2021---, Barcelona has 363,576 international inhabitants, representing 22.2% of the total. If only the place of birth is taken into account, the number of people of foreign origin living in Barcelona is even higher: 481,657 people, 29.4% of the total inhabitants. Of these, 29.7% already have Spanish nationality, according to the Barcelona City Council. People of 176 nationalities coexist in the city.