Santander partners with Misys for consumer finance tech project

Santander partners with Misys for consumer finance tech project

The consumer finance arm of Spain's Grupo Santander is collaborating with Misys Banking System to develop a new set of standardised software components for use across its European operations.

Santander Consumer says its 'Partenon & Alhambra' IT strategy will meld Misys' skills in software development with the bank's experience in lending in an effort to improve service levels, increase efficiencies and lower costs.

The new standardised system will be rolled out to Santander units across Europe, replacing the current mish-mash of multiple computer platforms. Santander Consumer/CC-Bank in Germany will be the first subsidiary to implement the new components for process automation in auto and durables financing.

Santander Consumer Finance was founded specifically for the purpose of centralising the Spanish bank's European consumer lending business. It includes companies in Spain, Portugal, Italy and Scandinavia as well as the CC group together with its Austrian, Hungarian, Czech and Dutch companies.

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