Spain's Sabadell pays IBM €1B for IT system overhaul

Wednesday, 15. January 2020 09:47

Spain’s Banco de Sabadell, S.A. announced on Wednesday it hired American computer company IBM for upgrading its IT systems over the next decade in an investment worth €1 billion.

Sabadell's Operations Director Miguel Montes stated that the bank wants to make its technology systems more reliable, faster and efficient to be able to handle all data which comes from client's mobile phones, including growing online transactions.

Last year, IBM and Bank of America started a partnership in making a public-cloud computing service for financial institutions that were hesitating to keep their customers’ financial data outside their in-house systems.

Related Links: International Business Machines Corp.Banco de Sabadell S.A.
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