Santander’s Openbank Goes All-In on AWS
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
About Amazon Web Services
For over 12 years, Amazon Web Services has been the world’s most comprehensive and broadly adopted cloud platform. AWS offers over 125 fully featured services for compute, storage, databases, networking, analytics, machine learning and artificial intelligence (AI),
Openbank is the 100% digital bank of Santander Group, with more than 1.2 million clients and $10 billion in customer resources. Openbank has been recognized by Consumer Associations as the leading bank in customer experience, and has the highest Customer Net Promoter Score (NPS) of all Spanish banks. It has relaunched its technology stack, with a new set of cloud based components and full machine learning capabilities for its AML, fraud, commercial and credit risk activities. Openbank offers its clients a full range of retail banking products, covering from digital loans and mortgages to a fully automated and digital investment and brokerage platform with robo-advisor. Its customers access the bank through the web, mobile or 24/7 call center. For more information visit openbank.es