Spain’s CaixaBank launches “Cosmos” initiative to drive AI-enabled transformation
Spanish banking group CaixaBank has unveiled its latest “process and technology roadmap”, dubbed “Cosmos”, aimed at developing new services, simplifying operations, and boosting “agility and commercial capability” across the bank’s business areas.
CaixaBank unveils new “Cosmos” initiative
As part of its broader strategy to invest €5 billion in technology over the next three years, the bank says the Cosmos initiative includes efforts to renew “current channels” and develop new commercial and customer service features through the use of GenAI.
CaixaBank, which boasts Spain’s largest digital banking customer base at nearly 12 million, says it intends to leverage AI to automate “business processes and transactions”, aiming to improve decision-making and reduce the “administrative load in branches”.
The technology will also provide “conversational and operational capabilities” for both employees and customers, CaixaBank says, enhancing the integration of its “different physical, remote, and digital channels”.
Cosmos also includes plans to expand customers’ digital self-service options, develop AI agents, and advance initiatives related to the bank’s cloud data infrastructure, as well as AI and machine learning-powered programmes designed to “improve access to information and data analytics in real time”.
To help carry out its Cosmos strategy, CaixaBank Tech, the bank’s technology development division, has set out plans to hire 500 new developers during Q1 2025, aiming to increase its tech workforce to over 2,000 before 2028.
