# Banco Santander Achieves €35 Million Q1 AI Value After Extending Tools to 185,000 Employees

> The global bank scaled its AI-first approach across banking operations to deliver quantified returns from fraud automation and agentic payments pilots while setting a €1 billion target for 2026-2028.

*Published 2026-09-05 · By Diane Okafor*

Banco Santander is a Spanish multinational financial services company that has adopted an AI-first strategy to transform its banking operations across multiple markets.

## Executive Summary

Banco Santander deployed AI tools to its entire global workforce of 185,000 employees as part of its AI-first strategy in the banking sector. The initiative generated €35 million in business value during the first quarter of 2026. The bank is on track to exceed €200 million in AI-driven value by the end of the year through a combination of revenue growth and cost reductions. This rollout represents a significant scaling from previous levels where nearly 40,000 employees were active users. The AI applications include automation of fraud claims processing in Brazil, where turnaround times improved by 95% with up to 90% automation. Additionally, the bank has piloted agentic payments with partners like Mastercard and Visa. Senior executives have highlighted the tangible impacts of these deployments. The strategy focuses on applying AI where it can have measurable effects on operations and customer service.

This approach has positioned Santander ahead in the competitive banking landscape by leveraging AI for process efficiency and innovation in payments. The quantified results provide a concrete example of how large financial institutions can derive immediate returns from broad AI adoption. The deployment of more than 280 process automation agents supports functions in credit, fraud, KYC, and operations. In software development, over 17,000 employees used agentic AI by May 2026, with 40% of code AI-developed in June. These elements combine to create a comprehensive AI ecosystem that delivers both productivity and compliance benefits.

## What Background Context Led to Santander's AI Expansion?

Santander has been building its data and AI capabilities over the past year. One year after setting out the ambition to become a data and AI-first bank, the technology is helping improve how the bank works, serves customers, manages risk and runs operations. The extension of access to all employees marks a key milestone in this journey. The bank operates subsidiaries like Openbank and Getnet, which also benefit from the AI tools. In particular, Openbank’s AI models process approximately 100,000 anti-money laundering alerts per year. This demonstrates the scale at which AI is being applied in compliance functions. Prior to the full rollout, the bank had tested various AI solutions including Microsoft Copilot, OpenAI, Anthropic, and Google Gemini models.

The decision to scale was driven by early successes in specific use cases such as software development where over 17,000 employees used agentic AI by May 2026. In the software development area, 40% of code was AI-developed in June. This indicates a shift in how internal teams are leveraging AI for productivity gains. The bank has also deployed more than 280 process automation agents in production across credit, fraud, KYC, and operations. These foundational efforts created the infrastructure necessary for enterprise-wide access. The strategy aligns with broader industry trends toward data-driven decision making in banking.

## What Specific AI Technologies and Deployments Are in Use?

Santander has integrated multiple frontier models into its operations. These include tools from OpenAI, Anthropic, and Google Gemini for various tasks. The focus is on practical applications that deliver business value rather than experimental projects. In Brazil, the AI system for card fraud claims processing has achieved high levels of automation. The error rate is below 1%, which ensures reliability in customer-facing processes. This deployment showcases how AI can handle high-volume tasks with accuracy. The bank was the first in Europe to test AI agent payments with Mastercard.

This involved completing Europe’s first live end-to-end payment executed by an AI agent within a regulated banking framework. Similar pilots were conducted in Latin America with Visa. These agentic capabilities represent a step toward more autonomous AI systems that can execute transactions on behalf of customers or the bank. The pilots are positioning Santander as a leader in this emerging area of AI in finance. The use of these technologies spans both customer service improvements and internal operational efficiencies.

## How Have the Technical Specifics Translated to Measurable Results?

The results are quantified through internal tracking of business value. In the first quarter, €35 million was attributed to AI initiatives. This figure rose to €84 million in the first half of 2026 according to financial results. Productivity gains in software development are notable with 40% of code being AI-developed. This has allowed the 17,000 users to accelerate development cycles. The 280 automation agents are handling tasks in key areas like KYC and fraud detection. The fraud claims processing in Brazil provides a clear example of time savings.

The 95% faster turnaround means customers receive resolutions much quicker. The up to 90% automation rate reduces manual intervention significantly. These metrics demonstrate direct links between AI deployment and operational performance. The bank continues to refine these systems based on performance data. Additional value comes from improved customer service and commercial growth enabled by the tools.

## What Are the Market and Stakeholder Implications for the Banking Sector?

This move by Santander has implications for other banks looking to adopt AI at scale. By giving access to all employees, the bank is democratizing AI tools within the organization. This could lead to widespread productivity improvements across the industry. Stakeholders including customers benefit from faster processing times and potentially better service. Employees gain tools that augment their work, as seen in the code development example. The bank itself sees cost savings and revenue opportunities.

The target of more than €1 billion in combined AI revenue and cost savings between 2026 and 2028 sets a benchmark. Peers may need to accelerate their own AI strategies to remain competitive in the banking sector. The approach also highlights the role of partnerships with technology providers and payment networks in advancing agentic capabilities. These elements create a model for regulated industries seeking to balance innovation with compliance requirements.

Comparison of Key Metrics Before and After Santander's AI ExpansionMetricPre-AI RolloutPost-AI RolloutActive AI Tool UsersNearly 40,000185,000Q1 AI Business ValueNot measured€35 millionFraud Claims Processing SpeedBaseline95% fasterFraud Claims AutomationMinimalUp to 90%AI-Developed Code ShareLow40% in June

## What Expert Reactions and Executive Commentary Have Emerged?

Ricardo Martín Manjón, the Chief data & AI officer at Banco Santander, has provided key insights into the strategy. His comments emphasize the focus on tangible impact. The executive also noted that being AI-first means applying AI where it can have tangible impact. This philosophy guides the selection of use cases that deliver clear returns. Reactions from partners like Mastercard highlight the innovation in agentic payments.

> This is why Santander has set a target of generating more than €1 billion in business value from AI between 2026 and 2028, through a combination of additional revenue and cost reductions. The new measurement period started in 2026, with €35 million in business value generated in Q1. We expect this figure to increase further in the second quarter and are on track to exceed €200 million by year-end, as selected solutions continue to scale across the group.Ricardo Martín Manjón, Chief data & AI officer, Banco Santander

The successful completion of the first live end-to-end payment by an AI agent marks a milestone in regulated environments. These statements underscore the measured and results-oriented approach taken by the bank. Other industry observers note the importance of such quantified reporting in building confidence in AI investments.

## What Is Next for Santander and the Broader Industry?

Santander plans to continue scaling the solutions that have shown success. The expectation is for the business value to increase in subsequent quarters. The long-term goal remains the €1 billion target over three years. For the industry, this case provides a model for measuring and reporting AI value. Other banks can look to the specific metrics like automation rates and processing speeds as benchmarks.

Further developments may include expanding the agentic payments pilots and integrating more advanced models. The bank will likely monitor the performance of the 280 agents and the AML processing at Openbank. These next steps will determine the sustainability of the early returns. The broader sector may see increased adoption of similar full-workforce AI access models.

- Assess current AI usage across departments
- Identify high-impact use cases like fraud processing
- Pilot agentic technologies with partners
- Measure and report quarterly business value
- Scale successful solutions to full workforce

In conclusion, Santander's approach demonstrates how large enterprises in the banking sector can achieve concrete wins with AI by focusing on measurable outcomes and broad access. The quantified results provide evidence of the strategy's effectiveness. Continued execution will be essential to meeting the multi-year targets.

## Sources

1. [Santander extended AI access to all 185,000 employees and generated €35 million in Q1 business value.](https://www.santander.com/en/stories/santander-turns-its-ai-first-strategy-into-measurable-impact-and-extends-ai-access-to-all-185000-employees)
2. [The group generated €84 million of business value in the first half through improved customer service, higher productivity and commercial growth.](https://www.santander.com/en/press-room/press-releases/2026/07/q2-2026-santander-bank-results)
3. [Banco Santander and Mastercard completed Europe’s first live end-to-end payment executed by an artificial intelligence (AI) agent within a regulated banking framework.](https://www.mastercard.com/news/europe/en/newsroom/press-releases/en/2026/santander-and-mastercard-complete-europe-s-first-live-end-to-end-payment-executed-by-an-ai-agent)
4. [Banco Santander and Visa today announced a strategic collaboration that marks the successful completion of Banco Santander’s first controlled pilot agentic commerce transactions in multiple Latin America markets.](https://www.santander.com/en/press-room/press-releases/2026/03/santander-and-visa-deliver-latin-americas-first-end-to-end-payments-powered-by-ai-agents)

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Source: https://aiintelreport.com/enterprise-ai/santander-ai-first-strategy-185000-employees
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