Technology is transforming the financial sector and CaixaBank is therefore investing heavily in projects aimed at changing its business processes.
The market has recognized the ”la Caixa” Group’s strategic commitment to technological innovation. In 2011, it was named the most innovative bank in the world at the Global Banking Innovation Awards organized by the Bank Administration Institute and Finacle presented in Chicago.
In order to consolidate CaixaBank’s position as a leader in incorporating technology into the financial business, a strategic agreement has been entered into with IBM to jointly manage the IT infrastructure. IBM has become a technology partner, after CaixaBank sold it a 51% stake in Serveis Informàtics la Caixa, SA. This new arrangement enhances the ability to manage greater volumes of business, restrict costs, and jointly develop strategic projects, while at the same time providing access to new technologies, methodologies and innovation processes.
The agreement represents estimated savings to CaixaBank in excess of €400 million over the next 10 years. It also involves IBM collaborating with CaixaBank’s Innovation Center in Barcelona through IBM’s Technology and Innovation Lab in New York and the Innovation Centers serving the banking sector in Silicon Valley and New York.
Construction of the new cutting-edge data processing center (DPC) has also been completed. Thanks to its design and construction, this DPC has been classified as a Tier 3 facility in terms of reliability by the renowned Uptime Institute. It is equipped with the most advanced technological infrastructure for storing and processing data. One of the most innovative aspects of the new DPC are the energy efficiency and environmental solutions employed there, allowing it to apply for LEED certification from the Green Building Certification Institute, classifying it as a sustainable building. This center also boasts dynamic uninterrupted supply systems that do not require batteries.
At branch level, work continued during 2011 to develop the Financial Terminal, introducing new functionalities and transforming existing ones in order to optimize branch processes: the platform to achieving commercial efficiency. Work stations (PC, screen and operating system) were also replaced. This is a technological advance which allows us to keep up with new developments in the market and boost the mobility of work stations and virtualization of applications. Pursuant to our energy efficiency policy, this change will give rise to more than 15% energy savings compared to the previous equipment.
Other innovative projects include the roll-out of the management mobility platform using iPad tablets and the development of an internal social network to facilitate transversal collaboration, boost the implication of and foster participative innovation by all employees in the organization. Other social networking innovations include the effort to develop the Personal Banking service model to ensure the value proposal reaches all customers efficiently and effectively, uniting the personalization of the direct customer service with the efficiency and effectiveness of the multi-channel approach.
Another key aspect related to technological leadership and of vital importance is information security. In this regard, CaixaBank has introduced pioneering solutions to mitigate the risk of information leaks, thereby protecting its customers’ data and that of its business. Systems and methodologies were also awarded international certification, and all employees received training and information on information security best practices.
Finally, CaixaBank obtained BS 25999 certification for its business continuity system from the British Standards Institution. This certification provides assurance to stakeholders that CaixaBank is able to respond to events that could affect business operations.
Welfare projects
”la Caixa”‘s commitment to the underprivileged—one of its hallmark traits—has taken on, if possible, and even more prominent role under the current circumstances. Despite the difficult economic climate, the institution will maintain its budget for welfare projects at €500 million for 2012, the same amount as was allocated the four preceding years. This expenditure level on welfare projects makes ”la Caixa” the leading private foundation in Spain and one of the most important in the world.
This year, once again, the institution’s priority will be addressing citizens’ needs. Thus, 66.3% of this expenditure (€331.5 million) will be allocated to programs to meet the needs of society. Cultural activities will be the focus of 13.8% of the investment (€69 million); science, research and development and environmental programs will account for 13.52% (€67.6 million); and support for education and training, 6.38% (€31.9 million).
Job creation, efforts to fight poverty and social marginalization, decent housing for groups that have difficulties accessing the housing market, and active and healthy aging of senior citizens continue to be some of the most important strategic lines of actions of ”la Caixa”‘s welfare projects.
These priorities confirm the importance of the work carried out in 2011. The figures for the achievements through this work are given below.
Under job creation, 9,889 persons found employment through theIncorporaprogram last year, bringing to 42,629 the number of employment opportunities created through the welfare project at close to 18,000 ordinary companies since 2006.
TheCaixaProinfanciaprogram, designed to help children in poverty and social exclusion, granted €48 million in 2011 for assistance for struggling families. Since 2007, the welfare project fund has been working to break the circle of hereditary poverty in Spain as part of a project to which it has earmarked nearly €250 million, to the benefit of 185,000 children and their families.
The “Solidarity Rental Program” was recently launched to guarantee access to housing. Under that program, the institution has made 3,000 apartments throughout Spain available to the lowest-income earners for a monthly rent of between €85 and €150. The institution has thus strengthened its commitment to its Habitatge Assequible program, which in 2012 completed 4,100 housing units planned in 2004, at the beginning of the project.
In 2011, the welfare project also focused its efforts on support for active aging and the full integration of the elderly into society (through the newGente 3.0 project), care for persons with advanced illnesses and their relatives (with 25,545 patients and 40,634 relatives benefiting from this project), the reincorporation of inmates into society and the job market and drug prevention.
The institution’s development of its own program has been rounded off with support, through Calls for Assistance for Social Projects, for 1,198 initiatives promoted by NGOs throughout Spain for at-risk groups. In addition, 21,285 actions have been supported by CaixaBank’s branch office network to meet the needs closest to them in their geographic areas through local social welfare efforts.
On the international front, welfare projects of ”la Caixa” continued efforts on child vaccination in developing nations (1.8 million children vaccinated), on sustainable development through 80 ongoing projects in 35 countries and, especially, on reconstruction in Haiti and assistance to address hunger in Africa.
The institution’s decisive support for training became clear in 2011 with the launch of eduCaixa, a new platform for students between 3 and 18 years of age, teachers and parents associations, which is rooted in the ”la Caixa”‘s more than 35 years’ experience with and commitment to education.
The awarding of scholarships for graduate studies at Spanish universities (100 scholarships) and aboard (125) and for doctorates in biomedicine at the leading educational institutions in Spain (the Centro de Regulación Genómica and the Instituto de Investigación Biomédica, in Barcelona, and the Centro Nacional de Investigaciones Oncológicas Carlos III and Centro Nacional de Biotecnología, in Madrid) underscores this commitment.
In the sphere of academic ideas, in 2011 Social Welfare added two new volumes to the Social Studies Collection. A report titled “Inmigración y Estado del Bienestar en España” (“Immigration and welfare in Spain”) shows that, although more than half of Spaniards view immigrants as competing for access to services and social benefits, they in fact contribute more to government welfare programs than they receive from them. In turn, “Individualización y solidaridad familiar” (“Individualization and family solidarity”) posits that the economic crisis has strengthened intergenerational cooperation among members of Spanish families.
As for the environment, efforts were stepped up in the area of conservation and improvement of natural spaces across Spain. In 2011, 316 projects were promoted that stressed hiring persons at risk of social exclusion in order to carry out conservation efforts. In 2011, 2,080 beneficiaries found work through these projects (bringing the total since 2005 to 8,161).
In the area of research, ”la Caixa” welfare projects continued to promote the advancement of learning through university studies (RecerCaixaprogram), as well as regarding AIDS (irsiCaixa), cancer (the ”la Caixa” molecular therapy unit at the Vall d’Hebron hospital) and neurodegenerative (BarcelonaBetaproject) or cardiovascular (CNIC) illnesses, among others.
Disseminating culture for people to grow is another cornerstone of the Group’s welfare projects. In this domain, and as part of its policy of establishing board partnerships with the best institutions in the world, ”la Caixa” became a benefactor of the Prado Museum, with which it is now developing a learning program called “The Art of Educating”. The exhibits titled “Delacroix”, “Retratos de la Belle Epoque”, “Impresionistas: Obras maestras de la Colección Clark”, inaugurated in 2011, were three of the highlights during the year. The presentation of “Volumen!”, the first contemporary art exhibit organized by ”la Caixa” and MACBA, also drew attention. The Mesías and Carmina Burana concerts, among others; the humanities program; the promotion of the Classic Library Collection, published by the Royal Spanish Academy; and the assistance for cultural projects with a social impact buttress the commitment of ”la Caixa”‘s welfare projects in this domain.
In 2011, once again, the public supported the programs at the CosmoCaixa Science Museums and the CaixaForum centers. During the year, 3.5 million visitors enjoyed the exhibits, all of which were put together with the intention of bringing knowledge to persons of all ages and with varying educational levels.
In short, this year ”la Caixa” again showcased its real reason for existing: its commitment to people and the well-being of the society in which it carries out its financial activity.