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Home Fintechs Santander set to hire 3,000 IT professionals for €20bn digital push

Santander set to hire 3,000 IT professionals for €20bn digital push

Santander bank which has its HQ in Spain said on Thursday it would hire 3,000 IT professionals worldwide this year to support its digital transformation. This comes when most banks are cutting jobs and costs.

However, this step follows a series of job cuts made by the bank almost exactly a year ago, which saw it slash 3,223 jobs in Spain, and 1,400 jobs in Poland. Those cuts were a result of the bank’s annual €1.2 billion cost-cutting commitment, as the bank has also invested €20 billion to its digital transformation plan.

Read also: Leaked messages from Revolut’s CEO Nikolay Storonsky address the job cut accusations

Ana Botín, Group executive chairman at Banco Santander, said: “Having the best technology does not just mean having the best infrastructure, applications, and processes. It also means having the best, most innovative talent.”

“We have an outstanding team at Santander and by adding new talent across each of our markets we can further accelerate our technological and digital transformation,” she added.

Santander announced the new staff would be recruited in areas including security and operations, artificial intelligence, software development, and cybersecurity.

Dirk Marzluf, Group head of Technology and Operations at Banco Santander, said to this: “We are recruiting professionals with technology profiles who will bring new IT skills and are looking for new challenges. They will be at the heart of our transformation.”

As of end-March, the bank had an efficiency ratio of 47.2%, significantly better than Spanish lenders’ 52.7% average and the 64% European average, according to data from the European Banking Authority.

Jan Cerny
Jan is an innovation enthusiast and Fintech news reporter. He specializes in news distribution, social media, and content analysis.

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