Big data and analytics are taking the financial services industry by storm, having also permeated the banking sector over the past few years. Santander has become the latest lender to make inroads into this space, inking a new partnership with TipRanks, a financial investment performance rating tools developer. The collaboration will see TipRanks provide new research and analysis capabilities to Santander Spain’s clientele amidst wider demand for these resources.

TipRanks has been pursuing several partnerships already in 2017, extending the use and market penetration of its Smart Portfolio tools to a number of venues including Nasdaq and others. Its latest accord will see Santander Spain’s clients gain access to TipRanks’ research suite, including several interactive trading and research tools.

The deal builds on an existing relationship between TipRanks and Santander – the partnership is the result of over a year of collaborative research and development that will help integrate TipRanks’ services suite into Santander’s product base. In particular, the research technology will cater to Santander Spain’s retail equities clients, though it is also setting its sights on a wide base of clients and global focus.

Uri Gruenbaum, the CEO of TipRanks, commented: “We are extremely excited about the new partnership and see it as a significant milestone in our global expansion. We have been working with Santander over the last 2 years on tailoring the best research tools for their wide audience in Spain and the final result is spectacular – many different research tools based on big data analyzed by our service and simplified for the needs of individual investors.”

“We take much pride in our approach to lead innovation and give our customers the best service and research tools available for our Spanish business; with TipRanks our customers can now get access to innovative interactive research tools that are based on big financial data. This is a landmark in applying research tech to retail equities brokerage, and we are looking forward to expanding this type of tools to other geographies and customers,” explained Juan Jiménez, Corporate Innovation Director of Santander.