Enhancing Bank Card Operations: Streamlining Management and Issuance for Better Efficiency (Plard)
In an exciting development, Spanish banking giant Santander is set to roll out its innovative cloud-native platform, Plard, in Spain and the UK. This platform, initially developed by Santander's subsidiary in Brazil, is poised to revolutionise the bank's global card operations.
Plard, a real-time data using, quickly scalable platform, was designed to overcome the technical limitations and rigid architecture of previous card systems. It currently processes over 20 million debit cards in Brazil and is already in operation in Mexico. The platform's efficiency is expected to help Santander cut costs and increase revenue.
Santander's Payments business, which accounts for 10% of the bank's total revenue, is at the heart of this innovation. The bank, known for its global business in Payments, composed of Global Cards and PagoNxt, is accelerating its data & AI-first strategy through collaborations like the one with OpenAI.
The bank's digital arm, Openbank, is also expanding its borders, demonstrating Santander's commitment to digital transformation. Plard, launched in 2021, enables Santander to harness new capabilities such as financing and corporate card propositions.
Card payments accounted for 56% of the total number of non-cash payments in the first half of 2024, according to European Central Bank data. With Plard, Santander aims to capture new debit card customers in Chile and other regions.
Santander's innovative spirit extends beyond Plard. The bank awards prizes to the most innovative companies in the circular economy, demonstrating its commitment to sustainable practices. For those interested, the 2024 Annual Report of Santander is available online.
As Plard continues to spread in limited areas in Spain and the United Kingdom, with ongoing monitoring and control measures being implemented, it's clear that Santander is leading the way in digital transformation within the banking sector.
Read also:
- Mural at blast site in CDMX commemorates Alicia Matías, sacrificing life for granddaughter's safety
- Comcast Introduces Sports-Oriented Video Bundle in Preparation for the World Cup Tournament
- Is Maruti's reign over the SUV market being challenged by Mahindra's aggressive move to snatch the top spot?
- Social Security Administration Abandons Plan for Electronic Payments: Important Information for Recipients of Benefits
){kind=link}