Tuesday, December 5, 2023

5 questions with … Banco Santander World CIO David Chaos

Banco Santander World Chief Info Officer David Chaos is targeted on cloud migration, fashionable know-how and buying expertise in his position on the financial institution.

David Chaos, World CIO, Banco Santander

The Cantabria, Spain-based financial institution is migrating its core banking platform to the cloud, which was first introduced in Could. The financial institution is utilizing Gravity, its inner software program, and expects to finish the transition by 2026, if not earlier, Chaos informed Financial institution Automation Information. In October, Google introduced it will be launching Twin Run, a mainframe migration service constructed on Santander’s Gravity.

Chaos not too long ago 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 position does know-how and automation play in Banco Santander’s total digital technique?

David Chaos: On the financial institution, we like to consider know-how as “a method to an finish.” Expertise is a really highly effective layer to attain automation and digitization. I’d 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 operating on the cloud. In truth, Santander has delivered one of many quickest cloud adoption initiatives on this 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 probably the most important 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 this 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 position 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 high 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 will not be simple to seek out, and at Santander we have now the dedication to seek out it wherever it’s. In the present day there’s a confluence of things that convey alternatives in Warsaw and in Malaga to host the perfect tech professionals. We have now arrange new hubs in these places, which is able to home circa 1,400 tech professionals to help enterprise areas, and we’re hiring round 750 consultants in platforms and APIs, cloud computing, large knowledge, 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 means of Gravity, and in 2023 we’ll speed up this transition. Each day, 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 fashionable and environment friendly, in addition to enhancing our processes and growing always 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 operating, 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 perfect 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 precise mixture of low lights, the place perseverance and execution are key, mixed with extra strategic views and future considering is the magic mixture I’d say. However unquestionably, probably the greatest items of recommendation I ever bought, and which I attempt exhausting each day to not neglect, is to have the perfect expertise round you.

Financial institution Automation Summit US 2023, March 2-3 in Charlotte, is an important occasion on automation know-how in banking and can function a hearth chat with Brinda Bhattacharjee of Goldman Sachs & Co. Register right here. Be taught extra and register for Financial institution Automation Summit US 2023.

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