Banco Sabadell, Spain’s fourth largest private banking group, and IBM have today announced reaching a 10-year service agreement, which will help the Bank to accelerate its digitalisation process and facilitate the strategic evolution of its business.
The financial sector continues to undergo a period of intense change, influenced by factors such as the regulatory framework, the appearance of new business models and demand from customers for greater digitalisation in the way they access and use financial services. With IBM, Banco Sabadell will transform its technological infrastructure into an advanced platform, able to integrate all its data and applications and facilitate a centralised and all-encompassing single customer view.
This agreement enhances the relationship between Banco Sabadell and IBM and will enable the complete modernisation of the Bank’s technological environment.
IBM will help Banco Sabadell to migrate its current applications to a hybrid cloud environment providing high security standards and readiness to adapt to continuous regulatory change.
The director of Banco Sabadell’s Operations and People Division, Miguel Montes, explains that “this strategic alliance with IBM allows us to take another important step towards the modernisation and transformation of our technological infrastructure and simplify our operational model”. The CEO of the institution adds that “with this agreement, not only do we continue to increase our resilience, security and scalability, but we also adopt key elements of the new technological paradigm represented by the cloud, intensive use of data or artificial intelligence.”
IBM’s services will allow Banco Sabadell to efficiently manage a hybrid multicloud environment in which new native cloud applications, as well as the modernisation of existing ones, will be deployed over container architecture with greater flexibility and speed, offering a better customer experience. The advantages of this development mainly concern: scalability, which will enable the Bank to meet the continuous growth of digital demand, the resilience and security offered by the use of cloud solutions and, above all, the much faster speed at which new digital services can be rolled out, overcoming the customary friction between applications and infrastructures.
The agreement also extends to TSB, Banco Sabadell’s subsidiary in the United Kingdom, through a contract under which IBM will manage the Bank's technological environment, operating the institution’s data processing centre in Great Britain.
“As the financial sector develops its digitalisation process in a highly regulated environment, banks need to combine a huge capacity for customer-focused innovation with a technological environment that offers maximum levels of solidity, resilience and security. An open hybrid cloud platform, created and managed with in-depth knowledge of the financial sector, is the best possible foundation for confronting these challenges”, states Marta Martinez, President of IBM Spain, Portugal, Greece and Israel. “It is an honour to be able to assist Banco Sabadell in building the platform they need to draw on their innovative spirit, and to grow and respond to the changing expectations of their customers, whilst meeting the complex regulatory and security demands of the financial sector”.
About IBM Cloud
With annual revenue of around 20 billion dollars, IBM has created a leading hybrid cloud business for companies. It includes a range of “Solutions as a Service”, software, hardware and professional services that allow IBM to advise, move, build and manage cloud solutions in public, private and on-premises environments. Through a global network of more than 60 cloud centres distributed across 19 countries and 18 areas of availability throughout 6 regions, IBM’s public cloud provides assistance to companies from all sectors.