Caixabank Unveils $5 Billion Tech Investment Plan

MADRID, SPAIN - Caixabank has announced plans to spend over $5 billion on technology innovation over the next three years, with the aim of boosting digital sales, launching new products and services, and enhancing its commercial and service capabilities.

According to a statement released by the Spanish bank, generative artificial intelligence will play a pivotal role in upgrading channels and infrastructure to ensure the group's resilience and stability. The bank has already assembled a team of over 100 experts from diverse backgrounds to work on deploying AI technologies in specific areas of internal services.

The transformation plan, which spans three years, also includes recruiting 3,000 young people between 2025-2027, most of them with technical skills, to foster a culture of proximity, agility and collaboration. CEO Gonzalo Gortázar stated that the bank aims to capitalize on a favorable economic environment to propel itself forward in terms of service quality, technological capabilities, and workforce talent development.

Gortázar emphasized that the plan will ultimately benefit the economy at large and provide adequate remuneration for shareholders, ensuring the growth and stability of Caixabank as a leading financial institution.