Banco Popular and IBM Sign Strategic IT Agreement
- Bank will outsource its technology infrastructure
- May save $200 million over 10 years
- IBM will manage bank's private cloud
MADRID, July 1, 2014
MADRID, July 1,2014 /PRNewswire/ --Banco Popular has signed a strategic
outsourcing agreement with IBM (NYSE: IBM) to help the bank transform its
technology infrastructure, including its private cloud. The bank expects to
increase efficiency and flexibility as part of its growth strategy. The
agreement may result in an accumulated savings of $200 million over the 10
years of the agreement. Cloud solutions provide Banco Popular with
flexibility, speed and a model to allow for innovation and future growth.
IBM Corporation logo.
Under the framework of the agreement, Banco Popular will transfer to IBM 41
technology infrastructure employees. Banco Popular Chief Technology Officer
Fernando Rodriguez Baquero and General Manager of IBM Global Technology
Services Europe Juan Antonio Zufiria presided over the signing ceremony.
Banco Popular stated, "With this agreement, with IBM as our technology
partner, we will achieve market standards in terms of technology services
needed to run an important digital transformation in Banco Popular, always
aiming to deliver the best service to our clients."
"Banco Popular is a pioneer in the Spanish banking industry. We are proud of
being a contributor in its strategic plan," said Juan Antonio Zufiria, General
Manager of IBM Global Technology Services Europe. "The progressive adoption of
innovative solutions such as cloud computing will enable the bank's technology
infrastructure to be more flexible and adaptable to business needs, which will
result in better client service."
The agreement is a step further in the technology development of Banco
Popular, which includes the recent modernization of its Data Center – also
with IBM's help – and the bank's new technology headquarters in Madrid, Spain.
About IBM Cloud Computing
IBM has helped more than 30,000 clients around the world with 40,000 industry
experts. Since its acquisition in 2013, SoftLayer has served 6,000 new cloud
clients. Today, IBM has 100+ cloud SaaS solutions, thousands of experts with
deep industry knowledge helping clients transform and a network of 40 data
centers worldwide. Since 2007, IBM has invested more than $7 billion in 17
acquisitions including SoftLayer to accelerate its cloud initiatives and build
a high value cloud portfolio. IBM holds 1,560 cloud patents focused on driving
innovation. In fact, IBM for the 21st consecutive year topped the annual list
of US patent leaders. IBM processes more than 5.5M client transactions daily
through IBM's public cloud. For more information about cloud offerings from
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IBM Media Relations, U.S.
Tel: +1 561 862 3074
Alfonso Gonzalez Herrero
IBM Media Relations, Spain
Tel: 91 397 76 75
For Banco Popular:
Comunicacion Banco Popular
Tel: 34 91 520 76 27/91 657 66 60
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