Kutxabank and IBM have announced today a ten-year, over 200 million Euros value, strategic services agreement. Under the agreement, IBM will transform and optimize the bank's technology infrastructure, which will help drive the bank's strategy.
The new strategic alliance is expected to gain important savings for Kutxabank over the term of the agreement.
Kutxabank integrated its technology after merging the Spanish saving banks BBK, Kutxa, Caja Vital and CajaSur. IBM will focus on successfully achieving part of the restructuring process.
Through this strategic outsourcing agreement, IBM will innovate and develop the bank's IT infrastructure and will provide branch offices and ATM maintenance, generating Kutxabank greater cost efficiencies and business flexibility to better adapt to market changes.
For Kutxabank President, Mario Fernandez, the agreement with IBM will position Kutxabank "at the cutting edge of technology at service of the increasing clients and market demands and will generate wealth and new investment in Euskadi, essentially in Gipuzkoa."
"Innovation is a key driver for growth in organizations. This agreement will enable Kutxabank to access the best practices in the financial sector worldwide and leading information technologies," says Marta Martinez Alfonso, Country General Manager IBM, Spain, Portugal, Greece and Israel.
As part of the agreement, IBM will create a new company and two new technology management centers in the Basque Country region (Spain), which will provide IT services to Kutxabank and additional IBM's Spain clients.
Nearly 300 professionals will work for this new IBM company, among these 190 will come from Kutxabank IT services providers. These professionals will benefit from developing their careers in a company owned by IBM.