Skip to main content

Santander Group's 100 percent digital bank now powered by AWS cloud

Amazon Web Services, Inc. (AWS), an company, announced that Open Bank, S.A. ("Openbank"), a subsidiary of Santander Group, runs on the world’s leading cloud for the most reliable infrastructure and the ability to innovate quickly and more frequently on behalf of its 1.3 million customers in Spain. The digital bank runs production workloads on AWS, including its website, mobile application, and core banking system. Openbank plans to expand internationally using AWS’s global infrastructure to increase redundancy and fault tolerance by replicating key systems across geographic regions.

Openbank chose AWS for its operational expertise, breadth of functionality, commitment to security, and understanding of the financial services industry, enabling the bank to innovate its business in the cloud. Openbank worked with AWS to migrate its mission-critical data lake from on-premises to a cloud-based architecture. The data lake now uses Amazon Simple Storage Service (Amazon S3), Amazon Lambda, and Amazon Athena for a more flexible environment that empowers Openbank data scientists and engineers to harness and analyze customer data so that they can make better informed decisions faster. In addition, Openbank leveraged Amazon Elastic Container Service (Amazon ECS) to create a web and mobile front-end application that supports digital interactions with bank customers such as performing credit risk analysis, requesting new loans, and recommending investment strategies.

“AWS enabled us to launch a secure and reliable digital bank in a multinational environment, complying with European regulation in record time,” said Cristóbal Miralles, Chief Technology and Operating Officer at Openbank. “We are using the most comprehensive set of cloud services to evolve our customer service models, and help us meet the rigorous requirements of stakeholders and regulators who need transparency into and proof of robust security architectures that protect both our customers and proprietary data. We plan to leverage AWS’s advanced machine learning technologies like Amazon SageMaker to automate tasks related to financial operations and use more analytics capabilities to gain deeper insights into what our customers desire most.”

“Entrepreneurial-minded financial services organizations like Openbank are creating entirely new market segments on AWS,” said Mike Clayville, Vice President, Worldwide Commercial Sales at AWS. “Santander’s Openbank collaborated with our industry experts to reassess their operating models, build anew, and implement strategies to accelerate product development, delivery, and upgrades in the cloud—all without compromising security and compliance. They are using AWS’s analytics services, big data capabilities, and machine learning services to make decision-making a science, rather than a guessing game, which has already had a major impact on the bank’s plans for long-term growth and expansion.”


Popular posts from this blog

Cloud Computing powering India’s priority of ‘Digital-first country’

By: Sunil Mahale, India MD and VP, Nutanix
Digital transformation has been recognized as being vital to the growth of our nation. This transformation has enjoyed the unanimous approval and contribution from all stake holders including enterprises, MSMEs, government bodies and citizens. But this level of adoption in a country with a population of over a billion people would need a robust technology base that is capable to collecting and distributing vital data seamlessly.
Digital India envisions creating high speed digital highways, that will impact commerce and create a digital footprint for every individual. Technologies based on mobility, analytics, Internet of things and most importantly, cloud technologies are the building blocks for the digital India missionThere is a growing need to manage huge volumes of data, and making them readily available to public through digital cloud services. Cloud has a pivotal role in enabling this change.
While Data centers have become crucial to th…

RevStart launches its RevItUp Incubation Programme

Underlining its vision of creating a nurturing ecosystem for start-ups to grow in, RevStart, a co-working and incubation centre, has announced the launch of its RevItUp Incubation Programme. The 12-week long programme will be held at RevStart Incubation Centre in Noida from July 1, 2018 onwards. As part of the programme, RevStart will select five high potential start-ups from the ed-tech sector, AI, Consumer Internet, Sustainability, as well as for-profit social impact companies to assist them with developing their business, along with connecting them to global mentors across industries and sectors. In addition, start-ups selected for the programme will receive INR 5 lakh to Rs. 25 lakhs worth of cash and benefits, while RevStart will get an equity stake in the ventures.
The RevItUp Incubation Programme has been created to enhance the founding team’s industry, product, and company building knowledge and capabilities through a world-class curriculum. The programme will focus on tailor…

Insurtech startup Kruzr raises $1.3 Million from Saama Capital and Better Capital

InsurTech startup Kruzr has raised 1.3 Million USD (Rs. 9.5 Cr) for its seed round led by Saama Capital with participation from Better Capital. Kruzr is a preventive motor insurance technology which helps insurance companies personalize policy premiums & improve their risk model by delivering an engaging preventative driving assistant to their customers. Kruzr is founded by Pallav Singh, Ayan, and Jasmeet Singh Sethi.

Kruzr blends the power of voice technology and artificial intelligence in its personal driving assistant that helps drivers minimize mobile distractions, drowsy driving, speeding and external risks like weather and accident-prone zones. In pilots with insurers, Kruzr managed to cut down distracted driving by 80%. Kruzr is working with motor insurance companies in Europe, UK and India to bring its technology to their customers to prevent accidents & improve claims.

“Road accidents cause over 1.3 million deaths globally every year, and motor insurance companies los…