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Santander UK Owner Reveals Plans to Cut Costs by over £430m Under AI Strategy
The Spanish bank said AI will drive automation and productivity gains, with 40,000 staff already using the technology.
- Banco Santander targets more than €1 billion in combined revenue gains and cost savings from artificial intelligence between 2026 and 2028, with over half expected through reduced expenses.
- Ricardo Martin Manjon, Banco Santander's chief data and AI officer, stated "Santander is moving from AI ambition to execution," as the firm rolls out access to 185,000 staff worldwide.
- Santander targets around 240,000 calls—40 per cent of annual volume—to be resolved via self-service, aiming to save customers around 26,000 hours and free service teams for complex needs.
- The bank reported €35 million of benefit from AI in the first quarter, with aims to deliver more than €200 million in group-wide "business value" by end of 2026.
- Standard Chartered faced controversy after CEO Bill Winters suggested AI would replace "lower-value human capital," though Winters later said the words were taken "out of context.
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18 Articles
18 Articles
Wiltshire Times+3 Reposted by 3 other sources
Santander announces major AI-driven cost-cutting plan that will change processes
Santander has unveiled a major cost-cutting plan fuelled by AI.
·Trowbridge, United Kingdom
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Leicester MercuryReposted by 
Chronicle Live
Chronicle LiveSantander to cut costs by £433million with 40pc of calls handled by AI
The group has not said how many jobs will be impacted
·Leicester, United Kingdom
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Banco Santander has made it a priority to adopt artificial intelligence in the bank, with the objective of increasing efficiency, reducing expenses and enhancing the ability to capture revenues. The entity has already generated 35 million euros in business value and its objective is to raise that figure to 200 million this year, according to a document published on its website.
·Spain
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Total News Sources18
Leaning Left4Leaning Right3Center8Last UpdatedBias Distribution53% Center
Bias Distribution
- 53% of the sources are Center
53% Center
L 27%
C 53%
R 20%
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