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Bankia SA Signs Strategic Agreement With International Business Machines Corp (IBM) To Boost Efficiency And Competitiveness

Thursday, 20 Dec 2012 07:00pm EST 

Bankia SA announced that it has signed a technology services agreement with International Business Machines Corp (IBM), under which IBM will help the bank to transform its technological infrastructure area. The arrangement will allow Bankia SA to boost its efficiency and competitiveness, improve customer service and attain cumulative savings of EUR 200 million. The contract will enter into effect on January 1, 2013 for a term of 10 years. It will provide a framework within which Bankia SA and IBM will set up a joint venture to provide technology services to the bank. Bankia SA will transfer nearly 100 people to the company under the outsourcing arrangement. 

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0.19 +0.12%
26 Nov 2014