G42 and Santander Explore AI-Powered Banking Partnership for 176 Million Customers

Abu Dhabi | EcoPulse24

Abu Dhabi-based technology group G42 and Spain’s Banco Santander have signed a memorandum of understanding (MoU) to explore strategic cooperation in artificial intelligence, laying the groundwork for a potential partnership focused on next-generation banking intelligence, agentic financial services, and large-scale AI infrastructure.

The agreement brings together one of the Middle East’s most prominent AI companies and one of the world’s largest banking groups, signaling growing interest among global financial institutions in deploying advanced AI technologies at scale.

Focus on Agentic AI and Banking Intelligence

Under the framework, the two organizations will evaluate a range of AI-driven initiatives, including intelligent advisory services, personalized savings solutions, and the development of a banking intelligence layer that could support Santander’s global operations.

The collaboration is structured as a co-development partnership rather than a traditional technology procurement agreement, combining Santander’s banking expertise, customer relationships, and regulatory experience with G42’s capabilities in artificial intelligence, cloud computing, and digital infrastructure.

Inception and Presight to Play Key Roles

Two G42 portfolio companies are expected to contribute significantly to the initiative.

Inception, G42’s agentic AI company, is expected to provide its AI platform and expertise in autonomous AI systems, while Presight, a global provider of applied AI solutions, is expected to support the development of intelligent financial systems and data-driven banking services.

The scope of each company’s involvement will be defined as individual workstreams advance and are formalized through future agreements.

Santander Bets on AI as a Core Banking Technology

Ricardo Martín Manjón, Chief Data & AI Officer at Santander, described artificial intelligence as a foundational technology for the future of banking rather than an additional feature layered onto existing services.

According to Manjón, the bank views the initiative as a long-term strategic partnership aimed at building AI systems that are durable, compliant with regulatory requirements, and capable of delivering differentiated experiences to customers across Santander’s international markets.

Banco Santander serves more than 176 million customers globally and reported €1.4 trillion in total funds during the first quarter of 2026. The bank operates across retail banking, corporate and investment banking, wealth management, insurance, and payments.

Building AI Rather Than Buying It

Ali Al Amine, Chief Commercial Officer at G42 International, said the partnership reflects a growing recognition among institutions that strategically important AI capabilities should be developed jointly rather than outsourced entirely to third-party vendors.

Ashish Koshy, CEO of Inception, emphasized that the initiative is centered on co-creation, stating that Santander will contribute banking expertise and real-world use cases while Inception provides the underlying agentic AI platform.

He described the partnership as a potentially unprecedented collaboration between a UAE-based agentic AI company and a major global bank.

AI Financial Agents Could Transform Customer Experience

Presight CEO Thomas Pramotedham said the collaboration could eventually help create AI-powered financial agents capable of understanding customer preferences, anticipating needs, and acting within customer-defined parameters.

According to Presight, the initiative has the potential to become one of the largest enterprise agentic AI deployments in European and Latin American banking, while establishing a new benchmark for AI-driven financial services globally.

EcoPulse24 Analysis

The significance of this partnership extends beyond a memorandum of understanding.

For G42, the agreement represents another step in exporting UAE-developed artificial intelligence capabilities into highly regulated global industries. For Santander, it reflects a broader shift within the banking sector toward embedding AI into core operations rather than limiting its use to customer support and automation.

The emphasis on agentic AI is particularly noteworthy. While many banks are experimenting with chatbots and digital assistants, the next phase of AI adoption is expected to focus on autonomous financial agents capable of delivering personalized recommendations, optimizing financial decisions, and executing actions within predefined limits.

If the collaboration progresses beyond the exploratory stage, it could become one of the most significant AI-banking partnerships involving a Middle Eastern technology company and a global financial institution.