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Technology Spain's Banco Sabadell hires IBM for 1 billion euro IT upgrade

10:30  15 january  2020
10:30  15 january  2020 Source:   reuters.com

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Financial services for individuals from Banco Sabadell , where you will find your account with zero fees, credit facilities, loans, mortgages, deposits, pension plans You are going to access BS Online at Banco Sabadell , remember that to sign operations you must use your Banco Sabadell code card.

Banco de Sabadell , S .A. forms part of the Spanish Deposit Protection Fund of Credit Entities. An account designed to assist you with your all your day-to-day financial needs during your stay in Spain . Debit and credit card and transfers free of charge.

a wooden bench: The Banco Sabadell logo can be seen behind leaves on top of a building outside Madrid, Spain© Reuters/Andrea Comas The Banco Sabadell logo can be seen behind leaves on top of a building outside Madrid, Spain MADRID (Reuters) - Spain's Banco Sabadell has hired IBM for a 1 billion euro ($1.11 billion) overhaul of its IT systems over the next ten years, the companies said on Wednesday.

The bank seeks to makes its computer systems leaner and more efficient to handle more data and transactions from customers´ mobile phones, said Miguel Montes, Sabadell´s director of operations and people.

IBM is offering its hybrid cloud services developed by its recently acquired Red Hat unit, said Marta Martinez, IBM's head for Spain and other southern European countries.

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Banco Sabadell Foundation. Sabadell Asset Management. You are going to access BS Online at Banco Sabadell , You must connect using the Banco Sabadell access code and remember that to sign operations you must use your Banco Sabadell code card.

At Banco Sabadell , we make it easy. The contract made and services rendered are a matter between the interested party and the supplier chosen by this, with Banco de Sabadell , S .A. (henceforth the Bank) being unaffected by any incident which may arise in rendering the services.

Traditional banks are investing huge amounts to upgrade their IT systems to keep up with the rising competition from new on-line banks, with no branches and no physical infrastructure, which are able to offer cheap, mobile-only banking services.

a man standing in front of a computer: Man stands near an IBM logo at the Mobile World Congress in Barcelona© Reuters/SERGIO PEREZ Man stands near an IBM logo at the Mobile World Congress in Barcelona

IBM will also help Sabadell's U.K. bank TSB, which experienced severe IT glitches in the past years.

The bank will open a new technology center in Edinburgh where it will handle all the British unit's data.

(Reporting by Inti Landauro, editing by Louise Heavens)

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