- Spanish lender Banco Santander SA has invested in two artificial-intelligence companies, part of the financial industry’s increased focus on technology smart enough to mimic human thinking, sources familiar with the deals told Reuters.
- The bank’s venture arm, Santander InnoVentures, bought stakes in Personetics Technologies, which provides automated customer service, and Gridspace, whose software can learn and interpret language the way a person would, the sources said.
- San Francisco-based Gridspace’s technology can be used by banks to monitor conversations between customers and employees at call centers to improve service.
- It’s Time to Hire a Chief AI Officer Santander san set up its London-based InnoVentures group in 2014 to invest in young financial-technology companies that can improve its digital offerings.
- Santander InnoVentures was among the most active bank-owned investors in fintech companies last year, alongside Goldman Sachs Group gs and Citigroup c , according to data by CB Insights.
Banco Santander SA has invested in two artificial-intelligence companies, Personetics Technologies and Gridspace.
@FortuneMagazine: Banco Santander invests in artificial intelligence startups
Santander Invests in Artificial Intelligence Startups | Fortune.com