Banco Santander claims its digital transformation is ‘ahead of plan’ after it revealed more than 60% of its global IT infrastructure has already migrated to the cloud.
Founded in 1857, Santander is headquartered in Spain and has a strong presence in 10 core markets across Europe and the Americas. It is one of the largest banks in the world by market capitalisation.
According to Santander, this milestone places the company in the leading position among large European banks with the greatest amount of IT infrastructure on the cloud, claiming the move is enabling faster innovation and is improving service quality significantly. The company expects to complete the move by 2023.
The cloud platform is helping deliver customer and financial services with better response times, Santander noted. The company gave an example of ATM response times reducing from as much to 10 to 20 seconds in the past to almost immediate today.
Santander has also created PagoNxt – a new autonomous cloud-native business to support the development of its payment services, which is helping its parent company build global platforms quicker and in a more secure way.
Santander remarked it helped provide its 148 million customers achieve access to financial services during the pandemic through the use of cloud technology. The bank claims it was able to migrate effortlessly to home working for its over 100,000 employees in just a few days.
Santander COO and CTO Dirk Marzluf said, “Helping customer and creating the best customer experience is key for Santander. To achieve this, we are innovating and moving our services to the most advanced cloud-based platforms. Our cloud adoption is one of the fastest in the world by a global company: we have moved 200 servers to the cloud every working day over the last two years. So, we are progressing every day to become the best open financial services platform.
“Santander is delivering one of the fastest cloud adoption projects in the world by a global company. The bank aims to bring it to completion by 2023 to become a fully digitally enabled bank that delivers world-class, digital services supported by experts at branches.
Copyright © 2021 RegTech Analyst
Copyright © 2018 RegTech Analyst
