IBM Wins $1B Banco Sabadell Deal
January 17, 2020
Sabadell, Spain's fourth largest private banking group, and IBM Services
signed a ten-year services agreement designed to help the bank boost
digitization and support the strategic evolution of its business model
with IBM cloud capabilities.
The financial services industry can face intense challenges related to
regulatory compliance, the emergence of new business models and the
demand for the digitalization of financial consumption. With IBM, Banco
Sabadell plans to transform its IT infrastructure to a modern technology
platform that integrates all its data and applications enabling a
broader client-centric view.
The new agreement extends IBM's relationship with Banco Sabadell and is
planned to make it possible to leverage IBM cloud capabilities, helping
drive modernization of the bank's IT environment. IBM Services will help
Banco Sabadell migrate its existing applications to a hybrid cloud
environment, meeting required cybersecurity standards, to help it meet
continuous regulatory changes.
The collaboration is intended to simplify the bank's dispersed
technological infrastructure so that it can move and manage data,
services and workflows across multiple clouds to allow it to continue to
offer its global clients its products and services in a manner that is
focused on speed fast, security and compliance.
"This agreement with IBM helps enable us to advance into the
modernization and transformation of our technology infrastructure and in
the simplification of our operational model," said Miguel Montes, Banco
Sabadell Chief Operations and People Officer. "With this, we are not
only continuing to increase our resilience, security and scalability
capabilities, but we can also adopt key elements of the new technology
paradigm like cloud, the intense use of data and artificial
Red Hat OpenShift technology, together with IBM Services, will also
support Sabadell in managing a hybrid cloud environment to deploy
on-container architecture, new cloud-native applications and modernize
current ones designed for more flexibility and speed to help drive a
more agile customer-oriented innovation.
solution provides capabilities such as scalability to help face the
continuous increase in demand for resiliency and security provided by
cloud solutions, and speed to launch new digital projects to overcome
the traditional friction between applications and infrastructure.
"We are excited to collaborate with Banco Sabadell to help advance its
cloud journey that can bring innovation to meet the everchanging demands
of its clients and help address the complex security and regulatory
requirements of today's financial industry," said Juan Zufiria, Senior
Vice President of IBM Global Technology Services. "An open hybrid cloud
platform, built and managed with IBM Services' industry experience, can
help lay the foundation for financial services providers to respond to
the challenges of the industry and position them to securely integrate
with IBM financial services-ready public cloud capabilities in the
In parallel TSB, the United Kingdom affiliate of Banco Sabadell, signed
a contract where IBM will manage the bank's technology in the UK.
IBM and Banco Sabadell signed this transaction in IBM's fourth quarter