Company: BCDRF
Filing Date: 2025-02-28
Form Type: 20-F
Source: 0000891478-25-000054
Chunk: 583

Company: Banco Santander, S.A.
Filing Date: 2025-02-28
Form: 20-F
Chunk 583
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 servicing processes and retail customer relations with a Simple, Personal and Fair approach.

| Key conduct risk lines of action in 2024               |     |                                                                                               |
| Implementation of responsible practices with end users |     |                                                                                               |
|                                                        |     | →Vulnerable customers policy implementation.                                                  
 →Annual review of sales force remuneration, ensuring consistency with Group standards.        
 →Thematic review on fair lending practices for credit cards and overdrafts.                   
 →Monitoring of responsible pricing, fraud management, and contact centre activities.          |
| Contribution to the simplification strategy            |     |                                                                                               |
|                                                        |     | →Conduct risk assessments of product catalogue simplification.                                
 →Optimization of product approval processes.                                                  |
| Promoting best practices in digital strategy           |     |                                                                                               |
|                                                        |     | →New guidelines to mitigate conduct risk and improve customer experience in digital sales.    
 →Policies for crypto and digital Assets and several initiatives approved after expert review. 
 →Ongoing collaboration in public discussions on digital assets.                               
 →AI project in Brazil to analyse customer complaints better, enhancing depth and speed.       |

| For more details on conduct with customers, see section'3.3Our customers'of the 'Sustainability' chapter. |

Annual report 2024 546

| Contents |     | Business model and strategy |     | Sustainability statement |     | Corporate governance |     | Economic and financial review |     | Riskmanagementandcompliance |

B. Reputational risk

Reputational risk is predominantly rooted in stakeholders' perception of the bank in every market where we operate. Reputational risk can arise from multiple sources: from business or business support activities, as a consequence of other risks, from the economic, social and political environment, or from events related to our competitors. Our reputation could also suffer if we are the subject of negative coverage in the media, whether merited or not.

Reputational risk applies to all Group activities and is identified, managed and mitigated by business and support functions, in particular the ones that engage with stakeholders. The second line of defence, in compliance, draws up policies, oversees the risks,

challenges the first line of defence and report and escalate to the relevant governing bodies (compliance and conduct committee, CSRRC and board).

Our reputational risk model takes a preventive management and control approach, with effective handling of early warnings as well as procedures to identify, manage and monitor risk events. It also includes elements to identify