IBM, through affiliate Insa, is teaming with banking group Caixanova to open a technology innovation centre in Orense, Spain.
The centre, due to open later this year, will initially focus on the development and management of core banking, Internet banking and branch network applications for Caixanova.
The facility is part of a 10 year agreement between Insa and the bank aimed at promoting technology innovation in Galicia in North West Spain.
In the future, the centre will develop technology projects for other Spanish and international financial institutions and companies. It will also collaborate with two other centres in Spain as well as IBM's international network of innovation centres.
Julio Fernandez Gayoso, chairman, Caixanova, says: "This agreement will have a very positive social economic impact in Galicia, as it involves the generation of employment and wealth in the area. It will also provide a major boost for the Information Technology industry, offering new IT services for businesses in the region."
Juan Antonio Zufiria, general manager, Spain, Portugal, Greece and Israel, IBM, adds: "The creation of this new CENIT Centre and the agreement with Caixanova is a new way of doing things and will guide IBM towards new innovation, helping to generate more competitive and sustainable development in Galicia."
In 2007 Caixanova signed a 10-year IT outsourcing contract, worth EUR70 million, with IBM. Under the agreement IBM manages the savings bank's central IT infrastructure and provide business continuity and backup recovery services.