Collaboration will help Permanent TSB improve and accelerate innovation in banking services
DUBLIN, Ireland, and NEW YORK, NY, February 18, 2022 — Kyndryl (NYSE: KD), the world’s largest IT infrastructure services provider, and Permanent TSB Bank, Ireland (Euronext: ILOA), announced a collaboration to transform the bank’s infrastructure to deliver integrated and seamless hybrid cloud management solution.
Banking businesses are grappling with increased cybersecurity threats, along with a need for more business agility and faster access to innovation. As this happens, more and more customers are demanding a high level of trust and personalization in their banking experience.
Permanent TSB’s vision is to extend its personalized and trusted digital banking experience for its customers through a modernized technology architecture and a more resilient platform to host a new generation of applications. Permanent TSB engaged Kyndryl to drive its digital transformation forward with an agile and secure environment built for the future of banking.
The bank engaged Kyndryl to move its critical workloads to the cloud and provide seamless data management across its entire infrastructure using cloud services. By collaborating with Kyndryl to achieve this important business transformation, Permanent TSB will be able to deploy adaptive digital tools to modernize and energize its banking operations.
Thanks to the cloud-based functionality of the solution, Permanent TSB can now react more quickly to market changes and support the ever-changing digital needs of its customers. It will launch more personalized digital offerings, while maintaining strong security and data protection that bolster its operational resilience.
Permanent TSB selected Kyndryl for this implementation because of its expertise in cloud services and digital transformation. Kyndryl has deep experience advancing the enterprise digital journey while taking an agile and flexible, expert-led approach to cloud modernization.
From the beginning, the core element of this collaboration has been the integration of Kyndryl’s deep experience and expertise in managing some of the world’s most critical infrastructure across multiple industries, particularly in services. financial.
Speaking at the announcement, Tom Hayes, Chief Technology Officer of Permanent TSB said: “Permanent TSB is investing heavily in the digital capability needed to make it the best personal and small business bank in Ireland. Our new partnership with Kyndryl shows existing and new customers the extent to which we are committed to providing them with the best digital services on the market that are easy to use, reliable and efficient.
We want to deliver better digital services to our customers faster and we are confident that this partnership will make that happen.
This builds on our recent €150 million investment in improving our IT system and digital capability and, together with a significant IT skills recruitment program which began last year, gives customers the assurance that the Bank has the appetite and the ability to give them the innovation, security and customer focus they demand.”
“By bringing Kyndryl’s global expertise and reach in cloud services, resiliency and security to Permanent TSB, we are excited to design, build and manage a flexible, innovative and agile cloud infrastructure to enable the digital transformation of businesses. Our integrated services are designed to protect, while enabling the bank to efficiently create more personalized digital experiences for its customers, in a highly regulated industry,” said Karen Forbes, Managing Director of Kyndryl Ireland.
About the permanent TSB
Permanent TSB is a leading Irish retail and small business bank offering mortgages, savings, investments, current accounts, personal loans and online small business banking products and services through telephone and in person through 76 branches in communities across Ireland.
The Bank has community roots dating back over 200 years and recently announced plans to expand significantly through the acquisition of certain Ulster Bank personal and SME banking businesses, including 25 Ulster branches Bank.
The bank’s ambition is to be the best personal and small business bank in Ireland, underpinned by its aim to work hard every day to build trust with customers, as a community serving the community.
For more information visit www.permanenttsb.ie.
Kyndryl (NYSE: KD) is the world’s largest provider of IT infrastructure services. The company designs, builds, manages and modernizes the complex and critical information systems that the world depends on every day. Kyndryl’s nearly 90,000 employees serve more than 4,000 customers in more than 60 countries around the world, including 75 percent of the Fortune 100. For more information, visit www.kyndryl.com.
Leontia Fannin, TSB permanent
Jim O’Keeffe, Kyndryl