Santander Invests in Artificial Intelligence Startups

Banco Santander invests in artificial intelligence startups

  • 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.

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Santander Invests in Artificial Intelligence Startups | Fortune.com

Santander Invests in Artificial Intelligence Startups