CaixaBank boosts digital capabilities with IBM Cloud for Financial Services; Onboards to New IBM Cloud Multizone Region in Spain

Rhea-AI Summary

IBM announced the launch of its first Cloud Multizone Region (MZR) in Spain, in collaboration with CaixaBank, to enhance digital capabilities in the financial sector. This partnership aims to support CaixaBank's CloudNow project, focusing on improving efficiencies and innovation. The MZR will enable European clients to run mission-critical workloads with high security and compliance. IBM's investment in Spain is expected to create hundreds of jobs and strengthen its presence in Europe, demonstrating its commitment to the region's digital economy.

Positive

• Launch of IBM's first Cloud Multizone Region in Spain enhances service offerings.
• Collaboration with CaixaBank supports the launch of the CloudNow project, improving efficiencies.
• Investment in infrastructure expected to create hundreds of jobs in Spain.
• MZR allows European clients to run mission-critical workloads securely and in compliance with regulations.

Negative

• None.

ARMONK, N.Y., Sept. 15, 2021 /PRNewswire/ -- IBM (NYSE:IBM) announced today its first IBM Cloud Multizone Region (MZR) in Spain and a new agreement with CaixaBank, a leading financial group in Spain, to boost the bank's digital capabilities by joining this MZR and embracing IBM Cloud for Financial Services.  

IBM has been a technology partner of CaixaBank for more than 50 years. Under this agreement, CaixaBank will launch its CloudNow project which aims to evolve business core applications, improve efficiencies and reinforce its innovative vision of financial services with increased availability and resiliency.

"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," Gonzalo Gortazar, CEO of CaixaBank said. 

To help scale hybrid cloud adoption, IBM's new MZR is designed to enable European clients to deploy mission-critical workloads with high levels of security, and address their data sovereignty and regulatory compliance requirements. IBM's expanded footprint signals its continued investment to help foster business growth in Europe and is expected to create hundreds of jobs in Spain. IBM continues to support the EU's efforts to build greater trust in the digital economy.

"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," said IBM CEO, Arvind Krishna.

The IBM Cloud for Financial Services incorporates built-in security and compliance controls to help companies reduce regulatory barriers impeding IT landscape and application modernization. Supported by a growing ecosystem of more than 100 technology partners and FinTechs, the platform is designed to speed financial institutions' transformations while addressing potential systemic industry risks throughout the supply chain.

As part of this agreement, Kyndryl, the new, independent public company that will be created following the separation of IBM's Managed Infrastructure Services business, will help CaixaBank to integrate their new hybrid cloud model while the bank leverages IBM Global Business Services' deep industry expertise to continuously support their industry innovation capabilities.

IBM MZRs are composed of three or more data centers with each being an individual Availability Zone. This is designed so that a single failure event can affect only a single data center rather than all zones – allowing for consistent cloud services and greater resiliency to help clients continuously run mission-critical workloads. CaixaBank and other enterprises across Europe will have access to our security, automation, and Red Hat capabilities, along with IBM Cloud's network, helping clients address their data sovereignty and compliance regulations as they move along their hybrid cloud journey.

To learn more about IBM's insights and solutions for the global banking industry, visit www.ibm.com/banking.

Kaveri Camire
IBM Communications
kcamire@us.ibm.com 

Suzanne Cross
IBM Communications
Suzanne.cross@us.ibm.com 

 

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SOURCE IBM

FAQ

What is IBM's new Cloud Multizone Region announcement in Spain?

IBM announced the launch of its first Cloud Multizone Region in Spain to enhance digital capabilities for clients.

How will the partnership with CaixaBank benefit IBM?

The partnership aims to improve CaixaBank's digital capabilities, helping it launch the CloudNow project for better business efficiencies.

What impact will IBM's new MZR have on European clients?

The MZR will enable European clients to securely deploy mission-critical workloads while addressing data sovereignty and compliance needs.

When was IBM's partnership with CaixaBank announced?

The partnership and the launch of the Cloud Multizone Region were announced on September 15, 2021.

What job creation is expected from IBM's investment in Spain?

IBM's investment in the new MZR is expected to create hundreds of jobs in Spain.