Santander Embracing AI to Transform into "AI-Native" Bank

Banco Santander is investing in OpenAI's ChatGPT Enterprise to enhance its AI capabilities and transform into an "AI-native" bank. The tool has been rolled out to 15,000 employees across Europe and the Americas, with plans to reach 30,000 by year-end. The bank aims to automate customer interactions, infuse workflows with intelligence, and save over €200 million in 2024 through AI initiatives. Governance is central to the rollout, with customer data not used to train external AI models and mandatory AI training for all staff starting in 2026.

Banco Santander is making significant strides in its artificial intelligence (AI) ambitions by rolling out OpenAI's ChatGPT Enterprise to its workforce. The Madrid-based bank has already deployed the tool to nearly 15,000 employees across Europe and the Americas, with plans to double that number to 30,000 by the end of the year. This move is part of a broader strategy to transform Santander into an "AI-native" bank [2].

The rollout of ChatGPT Enterprise is aimed at automating customer interactions, infusing workflows with intelligence, and delivering operational efficiencies. According to the bank, AI initiatives in 2024 alone have generated over €200 million in savings. Additionally, AI-powered copilots now assist in over 40% of contact-centre interactions, while speech analytics in Spain process 10 million voice calls annually, automatically updating CRM systems and freeing up over 100,000 hours for higher-value work [2].

Governance is a key aspect of Santander's AI rollout. The bank has emphasized that customer data is not used to train external AI models and has plans to launch a mandatory AI training program for all staff in 2026. This approach ensures that the bank's AI initiatives are grounded in trust and operational rigour, reflecting a commitment to human empowerment [2].

Santander's AI initiatives are part of a broader "data and AI-first" overhaul. The bank aims to integrate generative AI into its core functions, including product management, credit, marketing, service, and operations. This modular approach allows the bank to work with different AI vendors, including Microsoft and Amazon, alongside OpenAI [2].

The bank's AI track record predates the use of generative models. Santander's retail arms have long used machine learning to tackle fraud, improve customer service, and offer predictive insights. The new phase aims to integrate generative AI into these systems, moving toward "fully conversational banking" [2].

Santander's collaboration with OpenAI also reflects closer ties with the AI company. Last year, Santander was part of a banking syndicate behind a $4 billion credit facility for OpenAI [2].

Industry peers are also making similar moves. Rival BBVA recently expanded its ChatGPT Enterprise licences to 11,000 employees after reporting productivity gains, while other global banks are trialling AI copilots in both back-office and customer-facing roles [2].

For Santander, the next step will be shifting AI from an assistant role to a decision partner, automating more back-office workflows, and scaling personalised, conversational customer experiences. The bank's chief data and AI officer, Ricardo Martín Manjón, emphasized that the roadmap is built on real impact, operational rigour, and human empowerment, with the trust, scale, and humanity that banking demands [2].

References:
[1] https://finance.yahoo.com/news/amazon-com-amzn-saks-unveil-171430202.html
[2] https://financefeeds.com/santander-bets-on-openai-to-speed-push-toward-ai-native-banking/