Santander migrates corporate and investment banking business to its cloud platform

MADRID, 11 Dic. (EUROPA PRESS) -

Banco Santander has announced the migration of its Corporate business

Specifically, Santander CIB, which serves corporate and institutional clients, has used Gravity for its migration to Google Cloud, from where it already manages nearly one million accounting operations and half a million treasury operations every day.

Gravity is a cloud-native digital platform developed by the bank and software that facilitates the transition of core banking from the mainframe to the cloud, and can be deployed in private and public clouds.

The digitalization process of Santander's banking core began in 2022, and most of it will be completed by the end of 2024. To date, it has successfully migrated all business clients in the United Kingdom and consumer clients in Chile without interruption services in no time.

In addition to the United Kingdom, Chile and Santander CIB, the transition is very advanced in Brazil. Following the completion of the program, the Gravity platform will manage more than one billion technical operations per year through Santander systems.

The entity plans to have migrated most of its banking core worldwide to this platform by the end of 2024, largely using its private cloud.

Santander points out that it is the "first major bank in the world" to digitize the banking core with its own software, which is the most critical part of the technological infrastructure of a financial institution.

He explains that this transformation "allows access to data in a faster and easier way, simplifies processes and speeds up time to market", making it possible to offer new functionalities to customers "in a matter of hours", instead of weeks. , and more frequent 'app' updates.