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Evening Standard
Evening Standard
National
Holly Williams

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

Santander Santander UK Banco Santander United Kingdom
The Spanish owner of Santander UK has revealed aims to cut costs by more than 500 million euros (£433 million) by accelerating the use of artificial intelligence (AI) across its global operations. (Alamy/PA) -

The Spanish owner of Santander UK has revealed aims to cut costs by more than 500 million euros (£433 million) by accelerating the use of artificial intelligence (AI) across its global operations.

Banco Santander said it is targeting more than one billion euros (£860 billion) in extra revenues and cost savings from AI by the end of 2028, with over half expected to come through cost-cutting.

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