Santander extends AI access to all employees as business value starts to kick in

Santander is significantly ramping up its investment in artificial intelligence, providing AI tools to its entire global workforce. For retailers and merchants using Santander for consumer financing, this signals a major shift in how your lending partner operates. The bank expects these tools to drive over €200 million in value by 2026. This isn't just about internal efficiency for the bank; it’s about speeding up the entire credit lifecycle. For your business, this likely means faster credit approvals for your customers and more sophisticated fraud detection at the point of sale. AI-driven systems can analyze risk more accurately than traditional models, potentially opening up financing to a broader range of your customers without increasing default rates. You should expect your financing partner to become more responsive. Manual back-office processes that used to slow down funding or application reviews are being replaced by automated, intelligent systems. As Santander integrates these tools, the friction in your checkout process should decrease, leading to higher conversion rates for big-ticket items.

Source: Finextra — Lending

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