Banco Sabadell signs up to 10-year IBM deal

The Spanish bank will migrate its IT systems to a Red Hat-developed hybrid cloud infrastructure

Spain's Banco Sabadell has agreed on a €1 billion (£852.5 million) digital transformation deal with IBM to overhaul its IT systems over the next ten years.

The bank will migrate to a hybrid cloud infrastructure, developed by IBM's Red Hat unit, which it acquired in 2019.

The deal is an extension of an existing partnership between the two companies that will see IBM transform Banco Sabadell's technological infrastructure into an advanced platform, able to integrate all its data and applications and facilitate a centralised single customer view.

Banco Sabadell is aiming to upgrade its computer systems to be more efficient as it handles more data and transactions from customers. The bank has also prioritised security and a readiness to adapt to regulatory changes as digitisation sweeps through the industry.

"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," said Marta Martinez, president of IBM Spain, Portugal, Greece and Israel.

Related Resource

Benefits of the consistent hybrid cloud

A total cost of ownership analysis of the Dell Technologies Cloud

Download now

"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."

According to Banco Sabadell's CEO, Jamie Guardiola Romojaro, the deal will not only increase its resilience, security and scalability but also help the bank adopt key elements of the new technologies and processes such as cloud, intensive use of data and artificial intelligence.

In November, IBM announced a deal with Bank of America to develop "the world's first financial services-ready public cloud". Like the Banco Sabadell deal, the public cloud platform was said to be built using services acquired through its Red Hat deal.

The deal also extends to UK bank TSB, which is a subsidiary of Banco Sabadell and has previously worked with IBM during its 2018 meltdown nightmare. A report from IBM suggested that the bank didn't carry out rigorous enough testing of its new systems.

Featured Resources

The ultimate law enforcement agency guide to going mobile

Best practices for implementing a mobile device program

Free download

The business value of Red Hat OpenShift

Platform cost savings, ROI, and the challenges and opportunities of Red Hat OpenShift

Free download

Managing security and risk across the IT supply chain: A practical approach

Best practices for IT supply chain security

Free download

Digital remote monitoring and dispatch services’ impact on edge computing and data centres

Seven trends redefining remote monitoring and field service dispatch service requirements

Free download

Recommended

Creatio and PositiveEdge Solutions unveil BFSI-focused low-code, AI platform
artificial intelligence (AI)

Creatio and PositiveEdge Solutions unveil BFSI-focused low-code, AI platform

30 Apr 2021
US banks are using AI to watch customers and employees
artificial intelligence (AI)

US banks are using AI to watch customers and employees

19 Apr 2021
IBM’s public cloud for banking is now generally available
public cloud

IBM’s public cloud for banking is now generally available

7 Apr 2021
Panel Profile: Yolt CTO Roderick Simons
chief technical officer (CTO)

Panel Profile: Yolt CTO Roderick Simons

25 Jan 2021

Most Popular

Best Linux distros 2021
operating systems

Best Linux distros 2021

11 Oct 2021
Apple MacBook Pro 15in vs Dell XPS 15: Clash of the titans
Laptops

Apple MacBook Pro 15in vs Dell XPS 15: Clash of the titans

11 Oct 2021
Windows 11 has problems with Oracle VirtualBox
Microsoft Windows

Windows 11 has problems with Oracle VirtualBox

5 Oct 2021