The partnership will see the bank launching its CloudNow project that targets to evolve business core applications
CaixaBank has joined IBM Cloud Multizone Region (MZR) in Spain. (Credit: IBM)
Spanish financial services company CaixaBank has partnered with IBM to boost its digital capabilities by choosing IBM Cloud for Financial Services.
The IBM Cloud for Financial Services is designed to accelerate financial institutions’ transformations and address potential systemic industry risks throughout the supply chain.
According to the technology company, the platform helps companies lessen regulatory hurdles that impede application modernisation, with its built-in security and compliance controls.
Under the partnership, CaixaBank will launch its CloudNow project that targets to evolve business core applications and improve efficiencies.
The bank will be supported by Kyndryl in integrating the new hybrid cloud model.
Kyndryl is a new, independent public company that will be established after the separation of IBM’s Managed Infrastructure Services business.
IBM CEO Arvind Krishna said: “IBM is proud to provide CaixaBank with a technology platform that is designed to deliver the highest levels of trust, security and privacy. IBM’s hybrid cloud and AI solutions will help CaixaBank strengthen its business model and improve its customer experience.
“This partnership is a great example of our commitment to apply the power of technology to help business and society thrive.”
IBM has also announced the launch of its first Cloud Multizone Region (MZR) in Spain, to help its European clients scale hybrid cloud adoption.
As part of the partnership, CaixaBank has joined the MZR, which is designed to deploy mission-critical workloads with improved levels of security.
The MZRs are also designed to address data sovereignty and regulatory compliance requirements.
Consisting of three or more data centres, MZRs are designed to prevent a single failure event from affecting all zones and enabling consistent cloud services.
CaixaBank CEO Gonzalo Gortazar said: “IBM has become an indispensable partner in the development of CaixaBank’s digital capabilities, not only due to its in-depth understanding of the financial sector’s challenges, but also because it has enabled us to advance into future of banking.
“This collaboration has helped us to combine our current technological infrastructures with an updated environment boosted by cloud technology and artificial intelligence.
“The new MZR is a key milestone to keep offering our 21 million customers the best user experience we can while maintaining the highest levels of information confidentiality and protection.”