How to securely and easily transfer the vast repositories of data and operations hitherto protected by traditional technology systems to the decentralized universe of the cloud. Mainframe—, closely monitored at the companies own facilities?
The answer is GravityA technology developed internally by Santander Bank And unique in finance. This is Software It has allowed certain group to digitize Cor or a bank’s core is the most important part of a bank’s IT infrastructure and is where major financial operations such as money transfers, deposits or loans are processed. The challenge was ambitious, but the company had already moved more than 90% of its technology infrastructure to the cloud.
The Digital platform Gravity Behind the latest and prestigious award the company has received is: The World’s most innovative bankAward presented by the magazine Banker. The brochure itself describes the project as follows: “Great scope and very ambitious.” No wonder: This is a solid boost to Banco Santander’s digital transformation.
“Innovation is at the heart of our transformation, enabling us to better serve our customers while driving profitable growth and value creation. Gravity And many examples are proof of this,” he noted on LinkedIn. Ana Bodin, Chairman of the Finance Committee, at the award ceremony. The key is inside Make it easy to move from legacy technology to the cloud with confidence and ease. “This proprietary technology allows us to update our infrastructure Software Avoiding the need for a classic migration, as banks are forced to do to date.
The benefits it brings Gravity They are several: Easy and quick access to data; Mayor Simplicity; New and faster features – in hours instead of days -; oh Frequent updates of applicationsIt helps the bank create value through real-time analytics and allows it to deliver Better products and services. “Gravity It will enable Santander to become a digitally native company with the agility and capability to deliver a great customer experience, while continuing to deliver the data and asset protection we have always provided. This initiative is an important step in the bank’s transition towards a common technology environment used across the group for the benefit of customers and stakeholders. We are now closer to achieving Santander’s vision of becoming the best open platform for financial services,” said Dirk Marsloff, the company’s global head of technology and operations.
Digitization process Cor Banco Santander’s banking structure will be completed by the end of 2024 and the first half of 2025. The transition has already been successfully completed at several businesses in the United Kingdom and Chile, without disrupting services at any time, and is in an advanced stage. Brazil. when Gravity fully implemented, Over a billion technical operations are managed every year by this platform across the group’s systems. Besides, Gravity Enables concurrent data processing so the bank can run the workload on it Mainframe Simultaneously in the cloud to perform real-time testing without disrupting the business. Once stability and performance are proven, the bank can move from traditional technology to the cloud.
This platform is developed with great capabilities by sharing knowledge of top technical experts and young developers and engineers. It caters to 16,500 developers Software and a high-performance environment for the bank’s engineers to build customer-centric applications and increase their ability to attract top talent. Furthermore, Santander has reduced the bank’s energy consumption for technology infrastructure by 70%, contributing to its responsible banking objectives.
The success of Gravity Attracted Google’s attention. In October 2022, the two groups announced an alliance “to quickly respond to customers’ needs using traditional technology so they can start using the cloud with confidence and ease.” All the experience the bank has accumulated while developing and using its software has inspired the division and made it possible. the cloud The American technology giant has been created Double runA service that facilitates migration the cloud.
“We are redefining banking to meet all the needs of customers in the markets where we operate”, they highlight from Santander. The bank’s commitment to innovation and technological development goes a long way and is one of its strategic pillars, believing in the need to respond to the challenges derived from digital transformation.
Hence, one of the innovative initiatives that the company wants to improve service to its 164 million customers A common operating model with a new technology platform. This project is called A changeBased on proven team operating models and proprietary technology Gravity. For example, Santander Portugal has moved most of its routine operations out of branches, freeing up office staff to spend more time on clients and business operations, and Openbank has implemented process automation to make all products fully digital and simple. This includes simplifying its product catalog and sharing it across all markets in which it operates. In the first half of the year, the company has eliminated 362 products globally, which is 5% of its existing offering. Bank is currently implementing A change In the United States, Spain and Mexico.
