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Banco Santander World Chief Data Officer David Chaos is targeted on cloud migration, trendy 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 by a partnership with Google Cloud, which was first introduced in October. Via the partnerships, the 2 corporations launched migration system Twin Run, Chaos instructed Financial institution Automation Information.
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 total digital technique?
David Chaos: On the financial institution, we like to think about 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 initiatives on this planet by a worldwide firm. Greater than 90% of our IT infrastructure worldwide has already been migrated to the cloud.
We are actually 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 — corresponding 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 necessary 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 staff evolving following the opening of two new tech hubs?
DC: Expertise isn’t straightforward to seek out, and at Santander we have now the willpower to seek out it wherever it’s. In the present day there’s a confluence of things that deliver alternatives in Warsaw and in Malaga to host the most effective tech professionals. We now have arrange new hubs in these areas, which is able to home circa 1,400 tech professionals to assist enterprise areas, and we’re hiring round 750 consultants in platforms and APIs, cloud computing, huge 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 Gravity, and in 2023 we’ll speed up this transition. Day-after-day, we’re studying on this endeavor. We count on to finish it in all our core markets and companies inside two to a few years. We’re additionally making a steady effort to maintain our channels trendy and environment friendly, in addition to bettering our processes and rising consistently the automation ranges.
BAN: What applied sciences are you excited for in 2023?
DC: First, our pleasure comes from our day by day challenges and transformation initiatives already working, corresponding 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 most effective management recommendation you’ve ever obtained? How does that assist you to information your staff?
DC: I’ve been very fortunate in my profession as I all the time had nice leaders round. The proper 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 indubitably, the most effective items of recommendation I ever received, and which I attempt exhausting each day to not overlook, is to have the most effective expertise round you.
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