G42 & Banco Santander Explore AI Partnership for Banking

G42, an Abu Dhabi-based technology group, and Banco Santander, the Madrid-headquartered global banking group, have signed a memorandum of understanding to explore strategic cooperation in artificial intelligence.

The agreement establishes a framework for the two organisations to co-develop AI-powered advisory and savings solutions for customers, alongside a banking intelligence layer designed to support Santander's global operations.

The collaboration combines Santander's banking network, customer base and regulatory expertise with G42's capabilities in artificial intelligence, cloud computing and digital infrastructure.

Two G42 subsidiaries are expected to play a central role in the initiative. Inception, the group's agentic AI company, will contribute its AI platform technology, while Presight will support the development of applied AI systems and data-driven intelligence tools.

According to the companies, the partnership will focus on developing AI systems tailored to banking applications, with potential use cases spanning customer engagement, financial planning, operational intelligence and decision-making support.

The project could also expand the use of agentic AI within financial services. These systems are designed to carry out tasks and make recommendations autonomously within predefined parameters.

The companies stated that any future implementations will be subject to dedicated governance structures, internal approvals and compliance with applicable legal, regulatory, transparency and data protection requirements.