Both institutions have entered into an agreement to ensure the bank's mainframe support and thus reinforce their technological cooperation
For Cecabank, this alliance represents a further step in its firm commitment towards innovation and cybersecurity
Cecabank, the benchmark custodian bank in Securities Services in Spain and Portugal and a provider of specialised solutions for all types of national and international financial institutions and corporations, and Kyndryl (NYSE: KD), the information technology services company, have announced the signing of a cooperation agreement that includes maintenance and support for the modernisation of the bank's mainframe systems, the environment in which the main business applications reside.
Cecabank has developed a Technology Plan based on three strategic objectives: drive the bank's business, generate efficiencies in the use of technological resources and enhance operational resilience. To achieve these objectives, one of the key pillars has been the transformation and modernisation of the technological infrastructure, with the aim of boosting its resilience and efficiency.
This agreement with Kyndryl to manage Cecabank's mainframe environments reinforces the bank's commitment to cybersecurity, efficiency and sustainability. At the end of 2023, Cecabank acquired ownership of two IBM z16 mainframe servers, and Kyndryl's extensive knowledge and experience in the management and modernisation of this technology was the key to reaching this agreement. Kyndryl's mainframe services can help the bank focus on its core business and access the latest technological innovations, such as the Kyndryl Bridge open integration platform with artificial intelligence technology. This agreement will enable Cecabank to better respond to and anticipate the demands of a constantly evolving sector.
'Our new cooperation agreement with Kyndryl is a further step in the bank's commitment to offer the best service to our customers. With this in mind, Cecabank seeks to partner with benchmark suppliers specialising in each segment of the value chain, and Kyndryl is a leading player in mainframe systems support', stated Antonio Romero, Corporate Director of Association Services and Resources at Cecabank.
'We are proud to be the trusted partner of Cecabank, whose services and support are key to Spanish financial institutions, and which is strongly promoting technological innovation in the sector', declared David Soto, Chairman of Kyndryl Spain and Portugal. 'Modernising the technological environment where the bank houses its core applications can help it take advantage of the most innovative technologies and prepare it for the future'.
