IBM strikes USD 700 mln deal with Santander to accelerate transformation

Friday 15 February 2019 00:20 CET | News

IBM and Banco Santander have announced a five-year global technology agreement valued at approximately USD 700 million to enable Santander Group to accelerate and deepen its business transformation.

The agreement - while providing annual savings for the bank on IT spend - will enable Santander Group to evolve towards the open, flexible and modern IT environment it requires to materialize the pivotal role that technology and digital capabilities play in its business strategy. Together with that modernization journey, essential to provide new efficiencies to the banks operations, the agreement will also boost Santanders capability to deliver new services to its customers.

To that end, Santander will be able to enrich its services and applications with IBMs technologies, such as AI, blockchain and big data, all supported by security solutions. Using IBM Watson, for instance, Santander is incorporating AI capabilities to improve customer experience, enhance branch advisors expertise and increase employee productivity.

The basis of that architecture is the journey towards a hybrid, multicloud environment. To implement Santanders hybrid cloud strategy, the bank created its own Cloud Competence Center. IBM is collaborating with the center in the definition of the methodologies and processes to accelerate that transformation journey. Additionally, the bank is using a range of technologies including IBM DevOps solutions and IBM API Connect, aimed to develop, iterate and launch new or upgraded applications and digital services much more rapidly.

IBM is also contributing to a key requirement of Santanders transformation process: to ensure they conform with the highest level of commercial security as designated by the US government for data, applications and services. The use of IBM Security tools, in areas like mobile applications and incident response, will help Santanders to strengthen the security of its customers and operations.

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Keywords: IBM, Santander, partnership, technology, AI, blockchain, big data, security
Countries: World