IBM said it has signed a contract to manage the technology platform of Bankinter, the Spanish financial institute, until 2020.

The contract commits to the management of Bankinter's core technology platform (mainframe), as well as its distributed environment which consist of more than 800 servers. 

The agreement also includes the development of several initiatives designed to transform the financial institution's into a "dynamic technology infrastructure"that provides greater flexibility and responsiveness while reducing costs. 

"Bankinter is undoubtedly a benchmark for innovation in the financial sector and has [known] that technology is one of the key elements to provide better service to their customers and drive business growth,"Juan A . Zufiria, chairman of IBM Spain, Portugal, Greece and Israel said.