Spain’s CaixaBank has partnered with IBM Services to boost cloud transformation in the financial industry and develop new digital-first solutions.

CaixaBank will deploy IBM Cloud Pak for Applications solution running on Red Hat OpenShift.

This solution will help the bank manage workloads and applications across its cloud infrastructure.

It will help CaixaBank create applications with increased security while meeting compliance requirements under a hybrid cloud environment.

The solution is designed to improve the bank’s operations and reduce risk, with an estimated data storage capacity of 105,000 terabytes.

IBM and CaixaBank have been working together since 2011. The renewed partnership also includes focusing on innovation and digital transformation.

CaixaBank global technology services SVP Juan Zufiria said: “With this collaboration, we are laying the foundation to build a model, not just for CaixaBank and its millions of customers, but also for the future of the industry.

“The open cloud environment can allow the bank to accelerate its innovation and offer a more agile way to bring new digital services to its customers with added flexibility and security.”

Under the partnership, the bank also agreed to continue to work with IBM in their joint innovation centre for exploring the application of AI, quantum computing and blockchain solutions.

The partners will continue to create new solutions for the banking industry with an aim to process a large number of transactions in an open, secure and scalable environment.

CaixaBank CEO Gonzalo Gortázar said: “By strengthening and expanding the collaboration with a company that is a global model in innovation for the finance industry, we will accelerate, even further, our digital capabilities to continue developing innovative projects and services.”