Company: BCDRF
Filing Date: 2025-02-28
Form Type: 20-F
Source: 0000891478-25-000054
Chunk: 308

Company: Banco Santander, S.A.
Filing Date: 2025-02-28
Form: 20-F
Chunk 308
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 with the Paris Agreement goals are consistent with the relevant disclosure requirements and standards, and support the delivery of our targets.

• Continue to prioritize our financial inclusion, financial health and community support strategy in line with our aim to help people and businesses prosper.

• Analyse developments in public policies and actions of authorities and institutions in the markets where we operate, as well as their associated risks, and the potential impact on our sustainability strategy.

• Continue to enhance data quality and monitor sustainability disclosures and associated strategy in coordination with the audit committee, in order to meet increasing expectations from stakeholders in the current complex legislative framework.

• Remain focused on ensuring that the committee discharges its role in the most tangible and effective manner.

Annual report 2024 299

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

4.10 Innovation and technology committee activities in 2024

|                                                                                                                                                                                                                                                                                                                                                                                                               |     | focused on our common operating and business model for retail and commercial banking. The committee believes that this will enable our in-branch and service teams to free up time for customer-facing activities and to offer personal service across all channels.                                                                                                                                                                                                                                                                                                                                                         
 The committee also reviewed our cyber security strategy and the global threat landscape with key focus on our defenses and resilience. We looked closely at third party risk management throughout the year, working in partnership with the risk committee.                                                                                                                                                                                                                                                                                                                                                                 
 We continued to position data and analytics at the core of our business strategy and, in the future, to pursue the benefits of emerging uses of artificial intelligence. We recognize that we need take advantage of the commercial opportunities inherent in AI while meeting regulatory expectations on data management and customer safety. We also remain vigilant to other emerging technologies and approaches to computation what will allow us to improve customer offerings, lower costs and improve security in the future. In this regard, we benefit from the insights and experiences of our committee members. 
 In June, we welcomed Carlos Barrabés, who is experienced in the commercial application of technology, as a member of the committee. Looking forward, we will continue to support the board and management team in the transformation of Santander into a technology-first enterprise".                                                                                                                                                                                                                                                                                                                                       |
| Glenn Hutchins                                                                                                                                                                                                                                                                                                                                                                                                
 Chair of the innovation and technology committee                                                                                                                                                                                                                                                                                                                                                              |     |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                              |
| “Our goal as a bank is to deploy the most robust and efficient open financial services technology platform and, in particular,