Banco Santander has used bespoke, in-house developed software to digitise its core banking platform, already migrating 80% of its IT infrastructure to the cloud.
The Spanish lender says it is one of the first major banks in the world to digitise its core banking, using the Gravity bespoke software and tapping into a team of 16,500 software developers and engineers.
The shift 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, says Santander.
The cloud move will also help the bank drive value using real-time analytics and provide better products and services, all while lowering the cost of running the core banking platform and reducing energy consumption.
Dirk Marzluf, chief operating and technology officer, Santander, says: "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 utilised 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."