Santander UK owner reveals plans to cut costs by over £430m under AI strategy

▤ Summary

Banco Santander plans to use AI to cut more than €500 million in costs and generate over €1 billion in combined revenue and savings by 2028. The bank will roll AI access out to all 185,000 employees worldwide and expects more than 200 million euros in business value by the end of 2026. It is already using AI to automate work, simplify processes, and improve customer service, including voice-channel support in the UK. The announcement suggests a broad enterprise AI rollout that could increase demand for banking software, AI platforms, and integration services.

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