G42, Santander strike deal to create AI tools for global banking
The deal pairs G42’s experience in artificial intelligence with Santander’s global customer base, banking expertise and regulatory know-how
Ana Maria Arevalo Gosen/Bloomberg via Getty Images
A Santander bank branch in Madrid
Add The Circuit on GoogleAbu Dhabi’s G42 and Santander signed a draft agreement to develop artificial intelligence tools together and improve how the Madrid-based lender serves customers across its world operations.
The deal pairs G42’s AI technology with Santander’s global customer base, banking expertise and regulatory know-how. Two G42 subsidiaries – Inception and Presight – will develop AI tools that can help customers with financial advice, savings plans and personalized banking services.
‘’This agreement reflects Santander’s conviction that artificial intelligence will be foundational to the future of banking, not a feature layered on top of it,” Santander Chief Data & AI Officer Ricardo Martín Manjón said in a statement on Wednesday.
“The technology, the talent and the discipline we bring to this partnership reflect a decade of delivering sovereign AI exactly where the stakes are highest – across governments, healthcare and now banking at global scale,” said Ali Al Amine, Chief Commercial Officer at G42 International.
G42 is a technology holding company primarily owned by Abu Dhabi state-linked entities and Sheikh Tahnoon bin Zayed, the UAE’s National Security Advisor. Among its investors are the Mubadala sovereign wealth fund, Microsoft and private equity firm Silver Lake.
