Banco Santander World Chief Info Officer David Chaos is targeted on cloud migration, fashionable know-how and buying expertise in his function on the financial institution.
The Cantabria, Spain-based financial institution is migrating its core banking platform to the cloud, which was first introduced in Could. The financial institution is utilizing Gravity, its inside software program, and expects to finish the transition by 2026, if not earlier, Chaos informed Financial institution Automation Information. In October, Google introduced it could be launching Twin Run, a mainframe migration service constructed on Santander’s Gravity.
Chaos just lately shared $1.8 trillion Banco Santander’s digital technique, together with cloud efforts, new tech hub launches and 2023 innovation developments with Financial institution Automation Information. What follows is an edited model of that dialog.
Financial institution Automation Information: What function does know-how and automation play in Banco Santander’s general digital technique?
David Chaos: On the financial institution, we like to consider know-how as “a method to an finish.” Expertise is a really highly effective layer to attain automation and digitization. I might say there’s a direct correlation: The higher know-how is, the higher diploma of automation and digitization are achieved.
At Santander, the overwhelming majority of our buyer transactions are already digital and working on the cloud. The truth is, Santander has delivered one of many quickest cloud adoption tasks on this planet by a worldwide firm. Greater than 90% of our IT infrastructure worldwide has already been migrated to the cloud.
We at the moment are engaged on migrating our core banking platform to the cloud, which is essentially the most important a part of a financial institution’s IT infrastructure, the place the primary monetary transactions — comparable to cash transfers, deposits or loans, —are processed. Santander will quickly be one of many first main banks on this planet to digitalize its core banking. To allow this transition, we’re utilizing Gravity, a bespoke revolutionary software program developed in-house. This software program performs a vital function in modernizing the core banking platform.
As a testomony of the excellent know-how constructed at Santander, Google Cloud has launched Twin Run, a first-of-its-kind mainframe migration service constructed on prime of Santander’s distinctive know-how.
BAN: How is the financial institution’s digital workforce evolving following the opening of two new tech hubs?
DC: Expertise isn’t straightforward to search out, and at Santander we’ve got the dedication to search out it wherever it’s. At the moment there’s a confluence of things that convey alternatives in Warsaw and in Malaga to host the perfect tech professionals. We now have arrange new hubs in these places, which can home circa 1,400 tech professionals to help enterprise areas, and we’re hiring round 750 specialists in platforms and APIs, cloud computing, massive information, AI, software program growth and cybersecurity, amongst others. This can assist us to maintain growing new applied sciences to anticipate buyer calls for.
BAN: How does the financial institution prioritize product growth? Any improvements within the pipeline for 2023?
DC: We’re full-steam digitalizing our core banking by means of Gravity, and in 2023 we’ll speed up this transition. Every single day, we’re studying on this endeavor. We count on to finish it in all our core markets and companies inside two to 3 years. We’re additionally making a steady effort to maintain our channels fashionable and environment friendly, in addition to bettering our processes and rising continuously the automation ranges.
BAN: What applied sciences are you excited for in 2023?
DC: First, our pleasure comes from our each day challenges and transformation initiatives already working, comparable to cloud, modernization and automation. We’re additionally actually excited in regards to the world forward of us: fixed evolution of AI, machine studying, ChatGPT, blockchain and robotics.
BAN: What’s the perfect management recommendation you’ve ever acquired? How does that show you how to information your workforce?
DC: I’ve been very fortunate in my profession as I all the time had nice leaders round. The appropriate mixture of low lights, the place perseverance and execution are key, mixed with extra strategic views and future pondering is the magic mixture I might say. However indisputably, among the best items of recommendation I ever obtained, and which I strive arduous on daily basis to not neglect, is to have the perfect expertise round you.
Financial institution Automation Summit US 2023, March 2-3 in Charlotte, is a vital occasion on automation know-how in banking and can function a fireplace chat with Brinda Bhattacharjee of Goldman Sachs & Co. Register right here. Be taught extra and register for Financial institution Automation Summit US 2023.