Banco Santander successfully migrates its corporate banking business to a cloud-based platform — Gravity

Banco Santander, a provider of retail and commercial banking, wealth management, as well as related financial solutions, has recently migrated its corporate and investment banking business. The bank revealed that its corporate bank has moved on to a new cloud-native core banking platform known as Gravity.

Santander completes migration to Gravity

Gravity is a platform built on Google Cloud, and it comes with multiple benefits. Its software, for example, allows for parallel processing. As a result, the bank will now be able to simultaneously run workloads on its existing core banking mainframe, as well as in they cloud. This means that it will be able to perform real-time testing without suffering any disruptions to its business.

Santander has managed to successfully migrate all commercial customers in the UK, as well as its Chile-based consumer business. The migrations were handled without any service interruptions, already showing that the Gravity platform works.

Meanwhile, Santander CIB, which is used to provide support to institutional and corporate clients, has used Gravity to migrate to Google Cloud. There, it will be able to manage over a million accounting operations per day. In addition to that, it will also easily manage half a million of treasury operations at the same time.

Santander lives up to the name of the Most Innovative Bank

Banco Santander’s Chief Operating and Technology Officer, Dirk Marzluf, commented on the migration of the bank’s services. He said that the Santander CIB migration to the cloud represents a new milestone in the group’s transformation. This transformation has the goal of achieving a much simpler, and at the same time more integrated model. In doing so, it will significantly contribute to reaching enhanced profitability.

Furthermore, Santander has plans to have the majority of its core banking around the world migrated to Gravity. The current plan is to try and achieve this by the end of the next year, mostly in its private cloud.

Once the program reaches completion, over one trillion technical executions within Santander’s systems alone will be managed by the Gravity platform every year. Marzluf added that innovation is at the heart of this transformation and that it is helping the bank serve its customers better.

At the same time, it will be able to deliver profitable growth and value creation. He added that both the Gravity banking platform and other examples across the group serve as a testament to this. Its willingness to innovate and explore new technologies is why Santander was named the Most Innovative Bank in the world by Financial Times’ The Banker. Now, Santander will not only live up to the name, but do it in a way that will benefit everyone.