Santander’s core banking is digitalized with cloud technology by Santander to improve efficiency and service

Banco Santander to improve service and efficiency, the bank is digitizing core banking through cloud technology. The core banking platform is the most critical part of a bank’s IT infrastructure and is where the main financial transactions, such as money transfers, deposits or loans, are processed. Santanderis one of the first major banks in the world to digitalize its core banking and has already made significant progress, with 80% of its IT  infrastructure already on the cloud. 

Santander uses Gravity, a bespoke, innovative software that was developed in-house to facilitate the migration of core banking to the cloud. This software is an integral part of modernizing the core bank platform. 

The transformation will allow easier and faster access to data, more simplicity and faster time-to-market,  making it possible to deliver new capabilities in hours, instead of days, and more frequent app updates, while helping the bank drive value using real-time analytics and provide better products and services. This will reduce the cost of the core banking platform. 

The group anticipates that the transition will be complete in all its core markets within two to 3 years. 

Dirk Marzluf is chief operating and technology officer of Banco Santander. “Gravity will help transform  Santander into a ‘digital-native’ company, with the agility and capabilities to offer the best customer experience,  while continuing to provide the solid security for data and assets we’ve always delivered our customers. The initiative is an important next step in the bank’s transition to a common tech stack that is utilized across the group’s footprint for the benefit of both customers and shareholders. We are now closer to Santander’s aim of  becoming the best open financial services platform.” 

Santander’s successful cloud platform is built upon world-class capabilities – both in-house and through third-party providers. This gives Santander’s 16,500 software developers and engineers a modern, high performing environment to create customer-centric applications and increases the bank’s ability to attract top talent. Santander’s cloud programme also reduces the bank’s energy consumption for the IT infrastructure by  70%, contributing to Santander’s responsible banking targets.

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