Ana Botin, the Spanish banking giant's chairman, is counting on Santander's new digital platform to help drive expansion in the U.S. and Latin America.
Santander Bank's U.S. unit will be eliminating 80 mortgage-related positions as it withdraws from the third-party origination sales channel and refocuses on producing home loans through its branch network.
Revenue growth in its merchant payments business is expected to be tepid in the foreseeable future. The Minneapolis company says it is looking to ramp up innovation to stay competitive in a business that has been upended by fintech firms and online shopping.
Banco Santander stepped in to take over stricken rival Banco Popular Espanol in a deal brokered by regulators that imposes billions of losses on investors.
Several leading banks and corporations in Spain are launching a cross-industry development platform called Red Lyra, leveraging blockchain technology to streamline the creation of services that use digital identities.
