Banco Santander is advancing its commitment to a data and AI-centric approach through collaboration with OpenAI, aiming to establish itself as an “AI-native” bank.

This initiative is part to the bank’s vision of modernising operations and leading the transition towards a more personalised, and agile banking experience.

By integrating AI with its existing “digital bank with branches” model, Santander seeks to differentiate itself in the competitive banking landscape.

Historically, Santander has employed AI in areas such as fraud detection and customer service, which now serve as the foundation for its new strategy.

The bank plans to scale generative and agentic AI not just to optimise existing processes but to redefine the banking experience entirely.

This strategy is built on three key pillars, including embedding AI across all business functions, placing AI at the heart of global platforms, and leveraging an AI ecosystem for growth through partnerships with OpenAI, Microsoft, Amazon, and a startup community.

The results are already evident, with AI projects generating more than €200m in savings in 2024 alone, the lender said.

AI copilots assist in more than 40% of contact centre interactions, while Speech Analytics processes around ten million voice calls annually in Spain.

In just two months, Santander implemented ChatGPT Enterprise for nearly 15,000 employees across Europe and the Americas, with plans to expand this to 30,000 users by year-end, encompassing about 15% of its workforce.

AI tools are designed to assist developers, marketers, bankers, and service agents in tackling complex tasks more efficiently. Initial applications include investment copilots offering real-time strategy suggestions and hyper-personalised customer journeys.

Santander’s architecture is modular and vendor-neutral, allowing seamless integration with OpenAI and other large language models.

More than 6,000 developers are currently utilising AI tools, resulting in productivity increases of 20–30% for certain tasks.

To democratise AI usage, Santander is implementing tailored training programmes across various roles, including learning capsules, workshops, and hands-on hackathons.

Banco Santander chief data and AI officer Ricardo Martín Manjon said: “In today’s fast-moving financial landscape, competitive edge comes not just from adopting artificial intelligence, but from embedding it into the DNA of how we work.

“At Santander, this belief drives our strategy. As chief data & AI officer, I’m proud to share how we’re reshaping banking through a “data & AI-first” transformation, now supported by a new collaboration with OpenAI.”

Looking ahead, Santander plans to introduce a mandatory AI training programme for all employees starting in 2026, focusing on “Responsible AI” to ensure ethical practices throughout the organisation.

The roadmap for 2026–27 includes expanding agentic AI, transforming both front- and back-office operations, and enabling fully conversational banking.

AI copilots are expected to evolve into decision-making partners, while virtual assistants will handle transactions for customers.