Banco Santander World Chief Data Officer David Chaos is concentrated 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 firms 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 way to an finish.” Expertise is a really highly effective layer to realize automation and digitization. I might say there’s a direct correlation: The higher know-how is, the larger 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 the planet by a world 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 essential a part of a financial institution’s IT infrastructure, the place the principle monetary transactions — comparable to cash transfers, deposits or loans, —are processed. Santander will quickly be one of many first main banks on the planet to digitalize its core banking. To allow this transition, we’re utilizing Gravity, a bespoke progressive 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 now we have the willpower to seek out it wherever it’s. Right now there’s a confluence of things that deliver alternatives in Warsaw and in Malaga to host the most effective tech professionals. We’ve arrange new hubs in these areas, which can home circa 1,400 tech professionals to assist enterprise areas, and we’re hiring round 750 consultants in platforms and APIs, cloud computing, large information, AI, software program improvement and cybersecurity, amongst others. It will assist us to maintain growing new applied sciences to anticipate buyer calls for.
BAN: How does the financial institution prioritize product improvement? 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. On daily basis, we’re studying on this endeavor. We anticipate 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 trendy and environment friendly, in addition to bettering our processes and growing continually 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 most effective management recommendation you’ve ever acquired? How does that enable you to information your staff?
DC: I’ve been very fortunate in my profession as I at all times had nice leaders round. The proper mixture of low lights, the place perseverance and execution are key, mixed with extra strategic views and future considering is the magic mixture I might say. However indisputably, among the best items of recommendation I ever acquired, and which I strive laborious each day to not neglect, is to have the most effective expertise round you.
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