Banco Santander - Digital Transformation Strategies

Banco Santander - Digital Transformation Strategies

Summary

Banco Santander (Santander) is a provider of retail and commercial banking, wealth management, and related financial solutions. The group offers deposits and savings accounts; loans and financing solutions; insurance; investment products; derivatives and equities; card products such as credit and debit cards; and financial planning services to individuals. In addition, it provides business loans; current and savings accounts; leasing and factoring; international banking; commercial insurance; and investment solutions to companies of all sizes. Santander also offers private banking and wealth and investment management services to high-net-worth individuals and families. The group has operations in Europe, North America, and South America.

This report provides insight into Banco Santander's fintech activities, including its digital transformation strategies, its innovation programs, its technology initiatives, its estimated ICT budget, and its major ICT contracts.

Scope

• Santander UK is driving digital transformation by leveraging big data technology to enhance customer experiences and improve operational efficiency. The bank's big data platform powers its new digital applications, enabling real-time insights and personalized interactions with customers. Santander aims to provide seamless and transparent customer journeys by utilizing AI and machine learning to understand customer behavior and design processes accordingly.
• Santander has a network of data centers interconnected by a redundant communications system, spread across strategic markets to support and develop its business processes.
• Santander Consumer Bank leverages robotic process automation from Automation Anywhere to automate front- and back-office processes. Santander Argentina has implemented FacePhi’s facial recognition technology to authenticate users via selfies. 
• Banco Santander leverages advanced data analytics and machine learning techniques to derive insights from vast amounts of customer data that helps the bank to identify trends, personalize offerings, and enhance risk management.

Reasons to Buy

• Gain insights into Banco Santander’s fintech operations.
• Gain insights into its fintech strategies and innovation initiatives.
• Gain insights into its technology themes under focus.
• Gain insights into its various product launches, partnerships, and investment strategies.