Santander passes key milestone in its transformation after migrating its CIB banking platform to the cloud
Gravity, the bank’s software and cloud-native core banking platform, enables Santander to deploy on both private and public clouds. Santander plans to have migrated the vast majority of its core banking worldwide to the Gravity platform by the end of 2024, mostly in its private cloud.
Santander is the first major bank in the world with in-house software that digitizes core banking, the most critical part of a bank’s IT infrastructure. This transformation is allowing easier and faster access to data, more simplicity and faster time-to market, making it possible to deliver new capabilities for customers in hours, instead of weeks, and more frequent app updates. It also helps the bank improve greatly its customer experience, products and services, and drive value using real-time analytics. This change is also bringing significant efficiencies through cutting-edge end-to-end automation and other savings.
Dirk Marzluf, chief operating and technology officer at Banco Santander, said: “Innovation is at the heart of our transformation, helping us serve customers better while delivering profitable growth and value creation. The Gravity banking platform, and other examples across the group, are testament to this. The Santander CIB migration to the cloud is a new milestone in the group’s transformation towards a simpler, more integrated model, contributing to enhanced profitability.”
Santander’s core banking digital journey started in 2022 and the vast majority will be completed at the end of 2024. Apart from UK, Chile and Santander CIB, the transition is well advanced in Brazil. At the completion of the programme, more than one trillion technical executions will be managed every year by the Gravity platform within Santander’s systems.
