Santander Taps Gravity's Cloud Technology for Core Banking Digitization

Banco Santander has announced that it will be transforming its core banking platform with in-house software Gravity's cloud technology to improve service and efficiency.

Santander says 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".

The bank says that the change will also reduce the cost of running the core banking platform.

"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," says Dirk Marzluf, chief operating and technology officer at Banco Santander.

He adds that the initiative is an "important next step" in the bank's transition to a common tech stack that is utilised across the group.

Santander also claims that its cloud programme reduces its energy consumption for the IT infrastructure by 70% and contributes to Santander's responsible banking targets.

The banking group expects to complete the transition in all its core markets and businesses within the next two to three years.

(Source: Fintech Futures)