Santander Targets More Revenue, Cost Cuts Through AI
By Adria Calatayud
Banco Santander said it aims to generate additional revenue and cost savings in coming years by deploying artificial intelligence across its operations.
The Spanish bank has set a target for more than 1 billion euros ($1.15 billion) in AI gains over the 2026-28 period through a combination of extra revenue and cost reductions, its Chief Data and AI Officer Ricardo Martin Manjon said.
In the first quarter, AI helped Santander generate 35 million euros in additional revenue and savings, he added.
"We expect this figure to increase further in the second quarter and are on track to exceed 200 million euros by year-end, as selected solutions continue to scale across the group," Martin Manjon said.
Santander is using several tools--including Microsoft's Copilot, OpenAI's ChatGPT, Anthropic's Claude, Google's Gemini, and G42--and has extended AI access to all its 185,000 employees, he said.
Write to Adria Calatayud at adria.calatayud@wsj.com
(END) Dow Jones Newswires
June 21, 2026 18:15 ET (22:15 GMT)
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