Santander successfully migrates CIB banking platform to the cloud
Thu 14 Dec 2023
Banco Santander has migrated its Corporate & Investment Banking (Santander CIB) division to Gravity, a digital banking platform hosted on the cloud.
The Gravity platform is hosted on Google Cloud where it manages more than a million accounting operations and half a million treasury operations per day. All commercial customers in the UK were migrated without service interruption.
This shift has enabled easier and faster access to data, simplified processes, and a quicker time-to-market.
Gravity, a software and cloud-native core banking platform, facilitates deployment on both private and public clouds. Santander aims to migrate the majority of its core banking operations worldwide to Gravity, primarily on its private cloud, by the end of 2024.
This makes Santander the first major bank to digitise core banking with in-house software. The transformation has led to more frequent app updates and the utilisation of real-time analytics to drive value.
Dirk Marzluf, Chief Operating and Technology Officer at Banco Santander, said: “Innovation is at the heart of our transformation, helping us serve customers better while delivering profitable growth and value creation.”
Marzluf sees the Gravity banking platform as a key component in the group’s shift towards a simpler, more integrated model that can help boost profitability.
The Gravity software allows parallel processing, enabling simultaneous workload management on legacy systems and the cloud. This approach facilitates real-time testing without disrupting business operations.
The digital journey of Santander’s core banking began in 2022, with significant progress already made in the UK, Chile, and Brazil. Upon completion in 2024, the Gravity platform will manage more than a trillion technical executions annually within Santander’s systems.
Santander’s cloud-native core banking platform, supported by a blend of experienced IT professionals and young developers, provides a modern environment for creating customer-centric applications.
This enabled Santander to attract top talent in software development and engineering. Moreover, the bank has achieved a significant reduction in energy consumption from its IT infrastructure by 70%, aligning with its responsible banking objectives.
This transformation has led to Santander being named ‘Most Innovative Bank in the world’ by The Financial Times.
Join Cloud Expo Europe
6-7 March 2024, ExCeL London
Join the UK’s largest gathering of cloud professionals and business leaders to gain actionable advice and address critical cloud challenges.