Swedbank is the leading bank with over 7 million retail customers and 550,000 corporate customers in its home markets of Sweden, Estonia, Latvia and Lithuania.

Swedbank has selected Kyndryl to manage and operate the bank’s mainframe environment, which is at the heart of its core banking operation.

This new multi-year agreement for mainframe operations enables Swedbank to sustain its excellence in mainframe services delivery by leveraging Kyndryl’s expertise and capabilities and securing access to required mainframe competence over time.

Swedbank selected Kyndryl for its proven track record and decades of experience managing and transforming critical mainframe environments. Kyndryl will provide Swedbank with deep industry expertise in mainframe services where Kyndryl is investing heavily in competence and skills training for its vast pool of around 8,000 highly skilled and certified mainframe experts.

“Swedbank has always been at the forefront of tech innovation. We are honored to partner with the bank to strengthen its mission-critical banking platform through our mainframe capabilities and service offering," said Petra Goude, Global Practice Leader for Core Enterprise & zCloud at Kyndryl.

“Core banking IT services are a key area of differentiation for Kyndryl, and we’re delighted to see Sweden’s leading bank tap our broad industry knowledge and experience as well as our team of skilled experts to transform for the future,” said Beda Grahn, Managing Director of Kyndryl Nordics.