Santander UK to modernise core banking tech

Santander UK to modernise core banking tech

EXCLUSIVE: Santander’s corporate banking business in the UK is embarking on a core banking software overhaul, Banking Technology understands.

The bank has a multitude of systems, which it inherited from two UK banks, Abbey National and Bradford and Bingley, which were taken over by Santander. Among major and long-standing suppliers is Finastra (ex-Misys) with its Equation core banking system.

The legacy technology (including Equation) will be replaced with Infosys’ Finacle, it is understood.

Temenos with its T24 offering was also evaluated and so was Finastra’s newer core banking system offering, Fusionbanking.

No comment was available from Santander.

Meanwhile, Santander’s digital banking subsidiary in Spain – Openbank – is also evaluating Finacle and T24 to replace its legacy core software, it is understood.