Spanish banking group Banco Sabadell has awarded a ten year IT outsourcing contract, worth EUR107 million, to IBM.
IBM says the 'on demand' contract is expected to save Banco Sabadell about EUR42 million over the ten-year period.
The contract includes management of the bank's mainframe environment, data processing centre and security, along with business continuity services.
Miguel Montes, deputy general manager of IT and operations, Banco Sabadell, says the agreement is "an important step" to achieving efficiency goals under a three-year strategy plan.