Banco Santander – Digital Transformation Strategies

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Banco Santander Digital Transformation Strategies Report Overview

Banco Santander has been focusing on using artificial intelligence, big data, digital banking, and blockchain to digitally transform its operations. The annual ICT spending of Banco Santander was estimated at $4 billion for 2022. A major share of this spending is earmarked for acquiring software, consulting and hardware from vendors. Banco Santander is a provider of retail and commercial banking, wealth management, and related financial solutions. The group offers deposits and savings accounts; loans and financing solutions; insurance; investment products; derivatives and equities; card products such as credit and debit cards; and financial planning services to individuals. It provides business loans; current and savings accounts; leasing and factoring; international banking; commercial insurance; and investment solutions to SMEs and large corporates.

Total ICT Spending 2022 $4 billion
ICT Spend by Function Data center, Communications, Network, Application, End-User computing, Management, and Service desk
ICT Spend by Channel Internal development and maintenance, Technology vendors (direct), Local resellers, Telcos, ICT services providers/consulting firms, Specialist outsourcers, and Systems integrators
External ICT Spend by Segment Software (including cloud SaaS), Hardware (including cloud Iaas), ICT services, Consulting, Network and communications, and Others
Technology Theme Focus Artificial intelligence, big data, digital banking, mobile payments and blockchain

The Banco Santander Digital Transformation Strategies report will act as a reference point to understand a company/competitor’s digital strategy. It will also help in understanding the digital preparedness of the company against its peers. Information included in these reports are sourced from a mix of our very own internal database and authentic secondary research links such as company’s annual report, presentations, press releases etc. The report covers overview of the company, its digital transformation strategies, technology focus areas, accelerators, incubators, and other innovation programs, technology partnerships, technology introductions, venture arm, investments, acquisitions, and ICT spending among others.

Digital Transformation Strategies

Santander has a network of data centers interconnected by a redundant communications system, spread across strategic markets to support and develop its business processes. Santander has migrated more than 80% of its technology infrastructure to the cloud and expects to complete the rollout by 2023. Its cloud strategy enables it to improve processes, innovate swiftly, and improve service quality. In October 2017, IBM, Santander, and eight other banks partnered to launch we.trade, an open platform for cross-border business transactions. In 2021, Santander combined Santander Consumer Finance’s scale with Openbank’s platform, leveraging its technology and data management capabilities to drive growth by offering new products, services, and operational improvements.

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Banco Santander Technology Theme Focus

Banco Santander is utilizing a number of emerging technologies including artificial intelligence, big data, digital banking, mobile payments and blockchain among others to enhance its digital banking capabilities.

Banco Santander Technology Focus

Banco Santander Technology Focus

To know about other technology themes under focus for the company, download a free report sample

Banco Santander Technology Initiatives

Banco Santander has been involved in several strategic technology partnerships and collaborations, technology developments and roll outs, and technology investments and acquisitions over the last few years. For instance, in 2020, the bank introduced PagoFX, a cross-border remittance mobile app enabling residents in the UK to make fund transfers overseas. The solution allows cross-border payments using debit cards issued by any UK financial institution, providing users with a secure and cost-efficient payment option.

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Banco Santander ICT Spend by Function

  • Data center
  • Communications
  • Network
  • Applications
  • End-user computing
  • Management
  • ICT Service desk

Banco Santander ICT Spend by Function, 2022 (%)

Banco Santander ICT Spend by Function, 2022 (%)

For more insights on ICT spending by function, download a free report sample

Banco Santander ICT Spend by Channel

  • Internal development and maintenance
  • Technology vendors (direct)
  • Local resellers
  • Telcos
  • ICT services providers/consulting firms
  • Specialist outsourcers
  • Systems integrators

Banco Santander ICT Spend by Channel, 2022 (%)

Banco Santander ICT Spend by Channel, 2022 (%)

For more insights on ICT spending by channel, download a free report sample

Banco Santander External ICT Spend by Segment

  • Software (including Cloud SaaS)
  • Hardware (including Cloud Iaas)
  • ICT services
  • Consulting
  • Network and communications
  • Others

Banco Santander External ICT Spend by Segment, 2022 (%)

Banco Santander External ICT Spend by Segment, 2022 (%)

For more insights on external ICT spending by segment, download a free report sample

Scope

This report provides:

  • Insight into Banco Santander’s technology activities.
  • Insights of its accelerators, incubators, & other innovation programs, and venture arm.
  • Overview of technology initiatives covering partnerships, technology introductions, acquisitions, and investments.
  • Insights on each technology initiative including technology theme, objective, and benefits.
  • Details of estimated ICT budgets.

Reasons to Buy

  • Gain insights into Banco Santander’s technology operations.
  • Gain insights into its technology strategies and innovation initiatives.
  • Gain insights into its technology themes under focus.
  • Gain insights into its various partnerships.

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Table of Contents

Overview                                                                                               

– Brief information about the company, its business divisions, and its financials

Digital Transformation Strategy                                                    

  – A summary of key digital strategies/implementation efforts of the company

Accelerators, Incubators, and Other Innovation Programs     

 – Discusses the company’s key strategic units, innovation labs, incubation and accelerator programs dedicated to technology innovation

Technology Focus                                                                                

– Lists the technology themes pertinent to the industry the company operates in and highlights the themes adopted by the company

Technology Initiatives                                                                        

Discussion about all the technology introductions & partnerships the company has entered

Venture Arm: Mouro Capital                                                          

Brief information about the Company’s Ventures and it’s the key decision makers

Investment                                                                                          

Brief discussion about the investments made by the company to acquire new technologies

Acquisitions                                                                                        

Brief discussion about the acquisitions by the company

Partnership, Investment & Acquisition Network Map             

– A bird’s eye view of all the partnerships/investments/acquisitions that the company has made in the last 3-5 years

ICT Budget and Contracts                                                                  

– The company’s ICT budget segregated into hardware, software, and managed IT services

Key Executives                                                                                     

– Lists key executives and Digital Transformation Executives of the company, typically the key decision makers/influencers

Frequently asked questions

Banco Santander – Digital Transformation Strategies thematic reports
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