Company: BCDRF
Filing Date: 2025-02-28
Form Type: 20-F
Source: 0000891478-25-000054
Chunk: 786

Company: Banco Santander, S.A.
Filing Date: 2025-02-28
Form: 20-F
Chunk 786
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 learning across pre-defined markets for4priority use cases, rolling out Conversion Rate Optimization (Digital marketing) for at least40sales programs, delivering profit targets, and driving reduction of agent handled calls in contact centers; (vi) successfully implementing initiatives related to on-board and identity services, common API (application programming interface) layer, payment hubs, mobile app for SMEs and virtual assistant services; and (vii) launching the PagoFX global platform in at least4countries.        
 The milestones for 2021 were: (i)in relation to Pago Nxt Consumer payment platform: implementation of Superdigital platform insevencountries, acquisition of over1.5million active customer base and accelerating growth through B2B (business to business) and B2B2C (business to business to customer) partnerships, acquiring more than50% of the new customers through these channels, which are more cost-effective; (ii)in relation to Digital Consumer Bank: launching online API for checkout lending in the European Union and completion of controllable items for Openbank launch in USA; (iii)in relation to One Santander strategy: implementation in Europe of One Common Mobile Experience and, specifically, implementation of Europe ONE app for individual customers in at leastthreeof thefourcountries by December 2021; and be among the three-top rated entities in terms of Mobile NetPromoter Score (Mobile NPS) in at leasttwoof thefourcountries by December 2021; (iv) In relation to cloud adoption: host75% of migratable virtual machines on cloud technology (either public cloud or OHE) by December 2021. For these purposes, mainframes, physical servers and servers with non-x86 operating systems will be considered non-migratable. |     | The Digital Incentive is structured50% in Santander shares and50% in options over Santander shares, taking into account the fair value of the option at the moment in which they are granted. For Material Risk Takers subject tofive yearsdeferrals, the Digital Incentive (shares and options over shares) shall be delivered in thirds, on the third, fourth and fifth anniversary from their granting. For Material Risk Takers subject tothree yearsdeferrals and employees not subject to deferrals, delivery shall be done on the third anniversary from their granting. 
 Any delivery of shares, either directly or via exercise of options overs shares, will be subject generally to the Group’s generalmalus&clawbackprovisions as described in the Group