IBM Reaches an Agreement with the Santander Group from Spain



(Madrid, Spain and San Francisco, CA) In the United States of America, the Santander Group, owns the bank Santander Bank, N.A.  The latter, used to be Sovereign Bank.  Additionally, it is headquartered out of Boston, Massachusetts.  The principal market for, Santander Bank, is the Northeast Region of the United States of America.  Recently; the International Business Machines Corporation, or IBM, announced that it has, reached an agreement with the Santander Group.  The previously stated, is from the Country of Spain.  Specifically, the agreement is a five year global technology agreement.  Additionally, it is valued at $700 million USD. 

From the $700 million dollars that, the Santander Group is paying, this commercial and retail bank wants this.  It wants to accelerate, and, deepen a digital business transformation.  The latter is accomplished through, its business strategy.  As revealed through the announcement, of the agreement, the business strategy of the Santander Group includes the following.  Evolving towards an open, flexible and modern I.T. environment; is the previously mentioned business strategy of the Santander Group.  Overall, IBM (NYSE:  IBM) and the Santander Group are calling this experience, a digital transformational journey.  The goal of the digital transformational journey is to dramatically modernize, the bank’s business operations.  David Chaos is the Chief Information Officer of the Santander Group/Global.  Through a press statement, Mr. Chaos said the following.  “This agreement will allow us to have a global partner with the best technology to help accelerate the IT transformation.  We think this agreement with IBM represents a great support to our strategy of constant progress, while protecting our investments in technology.  IBM’s technology will provide the bank with the flexibility needed to support the constantly evolving business of a bank.”  The Santander Group, in the Country of Spain, is Banco Santander, S.A. (BMAD:  SAN).

For IBM’s side of the $700 million dollar agreement, it will be making available its most innovative, and, disruptive technologies.  For example; IBM’s artificial intelligence, IBM’s blockchain and its big data solutions.  The latter, are also part of IBM’s advanced security solutions.  Another example, of this current example, is IBM Watson.  IBM Watson is a technology solution that, incorporates artificial intelligence capabilities.  As part of the announced agreement, the Santander Group, revealed that it will use IBM Watson.  Specifically; the Santander Group will use IBM Watson to improve the customer’s experience, enhance the expertise of the branch advisors and increase the overall productivity of the employees.  IBM will also help the Santander Group, have the most advanced I.T. architecture of the financial sector of the economy.  As part of the announced agreement, IBM will perform the service that, will create for the Santander Group a hybrid multi-cloud environment.  The work will be done at the Santander Group’s Cloud Competence Center.  Through the work at the cloud competence center, the Santander Group will call into service the following IBM technologies.  IBM Dev Ops, IBM API Connect and IBM Security Tools are specific examples of the previously noted. 

To end, IBM did release a press statement.  David Soto is the General Manager for the Santander Group at IBM.  Through a press statement, Mr. Soto said the following.  “Santander Group is leveraging IBM technologies to support their security and regulatory work, and to rapidly develop new services that meet emerging customer demand by tapping into IBM’s unique technology and industry expertise.”  As previously stated; the International Business Machines Corporation, or IBM, recently announced that it has, reached an agreement with the Santander Group.  The previously stated, is from the Country of Spain.  Specifically, the agreement is a five year global technology agreement.  Additionally, it is valued at $700 million USD.



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Written from Press Release

Registered Writer at

PR Newswire Association, LLC

02/16/2019



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