CaixaBank in Madrid, Spain. Credit: Luis García (Zaqarbal)/commons.wikimedia.org.

IBM has signed an agreement with CaixaBank, which will see the Spanish bank use IBM Cloud for Financial Services to boost its digital capabilities.

The US tech firm, which also simultaneously announced its first Cloud Multizone Region (MZR) in Spain, has been a technology partner of CaixaBank for over 50 years.

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CaixaBank has onboarded IBM’s MZR to accelerate its hybrid cloud adoption.

This deal will see CaixaBank launch its CloudNow project, which aims to evolve business core applications and boost efficiencies.

CaixaBank CEO Gonzalo Gortazar said: “IBM has become an indispensable partner in the development of CaixaBank’s digital capabilities, not only due to its in-depth understanding of the financial sector’s challenges, but also because it has enabled us to advance into future of banking.

“This collaboration has helped us to combine our current technological infrastructures with an updated environment boosted by cloud technology and artificial intelligence.

“The new MZR is a key milestone to keep offering our 21 million customers the best user experience we can while maintaining the highest levels of information confidentiality and protection.”

With a view to scale up hybrid cloud adoption, IBM’s new MZR is intended to allow clients in Europe to deploy mission-critical workloads with security.

The clients will also be able to address their data sovereignty and regulatory compliance requirements.

The IBM Cloud for Financial Services comes with built-in security and compliance controls.

These controls help firms to cut down regulatory barriers with regard to  IT landscape and application modernisation.

As a part of this deal, Kyndryl, an independent public company that will be created after separation of IBM’s Managed Infrastructure Services business, will help CaixaBank to integrate the new hybrid cloud model.

IBM MZRs comprises three or more data centres with each acting as an individual Availability Zone.

This is fashioned in way so that a single failure event can impact only a single data centre instead of all zones, thereby enabling consistent cloud services to help clients run mission-critical workloads.