Spanish bank Kutxabank signs a strategic alliance with IBM to transform IT infrastructure

-- Over 200 million Euros contract will gain important savings for the bank

-- IBM to open two new technology centers in Spain

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Jul 23, 2013, 10:11 ET

BILBAO and MADRID, Spain, July 23, 2013 /PRNewswire/ -- Kutxabank and IBM (NYSE: 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.

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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.

Technology Centers

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.

ABOUT IBM
For more information, please visit: www.ibm.com

ABOUT Kutxabank:
For more information, please visit: www.kutxabank.com

Contact(s) Information:
Alfonso Gonzalez Herrero, IBM Spain External Relations
Tel. +34-91-3977675
[email protected]

Charisse Higgins
IBM External Relations
914-882-7710
[email protected]

SOURCE IBM