Banco Santander migrates corporate and investment banking business to the cloud
Banco Santander has migrated its corporate and investment banking business, Santander CIB, to Gravity, its cloud-native core banking platform launched in May 2022.
Banco Santander migrates CIB business to the cloud
The business unit has used the Gravity platform to migrate to Google Cloud, where it claims to manage around one million accounting operations and half a million treasury operations per day.
The bank says it has “already successfully migrated all commercial customers in the UK and the consumer business in Chile without any service interruption”.
Santander hopes that the full migration will be completed by the end of next year, with the current transition of its Brazilian operations being described as “well advanced”. When this track is completed, the bank anticipates the Gravity platform managing more than one trillion technical executions every year.
More widely, it expects the transformation to materialise in greater data efficiency and product agility, enabling the use of real-time analytics to boost decision-making.
Gravity’s unique selling point is that it’s able to facilitate parallel processing, a key factor in running workloads simultaneously on both a mainframe and the cloud and for migrating services between the two with little opportunity for service disruption.
Dirk Marzluf, chief operating and technology officer at Banco Santander, describes the migration of Santander CIB to the cloud as “a new milestone” as the group continues to pursue “a simpler, more integrated model, contributing to enhanced profitability”.
The platform’s parallel processing capabilities have also been made available to other companies and industry’s via the bank’s partnership with Google Cloud, which produced the Dual Run service in October 2022. This service enables companies to migrate from legacy mainframe systems to the cloud, just like Santander CIB.
