Kyndryl to lead The Co-operative Bank’s migration to a brand new IT infrastructure

• Moving to AWS Cloud will enable The Co-operative Bank to adopt cutting-edge IT Infrastructure
• The announcement comes at a time when many banks are struggling to overcome tech debt and meet customer expectations

LONDON, December 10, 2024 - Kyndryl (NYSE: KD), the world's largest IT infrastructure services provider, and The Co-operative Bank today announced a strategic agreement to move The Co-operative Bank's existing applications from on-premise environments to AWS Cloud. This move will enable The Co-operative Bank to adopt a flexible IT infrastructure model, which will reduce ongoing costs and enhance service delivery for The Co-operative Bank colleagues and customers.

This collaboration marks an extension of the long-standing relationship between Kyndryl and The Co-operative Bank.

Amid a rapidly changing IT landscape, The Co-operative Bank recognized the opportunity to enhance its operational efficiency and agility. By partnering with Kyndryl to migrate to AWS Cloud, The Co-operative Bank is evolving strategically from a data center model toward a modernized infrastructure, bettering The Co-operative Bank's position for growth.

"We are committed to providing the best possible service to our customers, and our decision to migrate to AWS Cloud reflects that commitment," said Mike Errington, Chief Information Officer at The Co-operative Bank. "This cloud transition will not only drive innovation in our IT strategy but also serve as a foundation for developing new capabilities and services that align with our key business objectives."

This transition also offers greater flexibility in leveraging Kyndryl's cloud services and consulting capabilities, utilizing both AWS Cloud and Kyndryl's zCloud managed mainframe services in a hybrid environment for Production and Disaster Recovery. Additionally, the partnership will draw on Kyndryl Consult, which combines extensive advisory services with advanced technology integration solutions to support the design, build and migration to The Co-operative Bank's new AWS landing zone.

John Chambers, President of Kyndryl UK and Ireland, added, "We are proud to extend our partnership with The Co-operative Bank and play a pivotal role in its digital transformation journey. With decades of experience managing mission-critical IT systems for global financial institutions, Kyndryl is well-positioned to deliver security-rich and resilient infrastructure that supports The Co-operative Bank's strategic ambitions and move to AWS Cloud."

The Co-operative Bank selected Kyndryl for its deep expertise in digital transformation projects and its thorough understanding of The Co-operative Bank's infrastructure and strategic goals. A key element of this collaboration is Kyndryl's cloud proficiency as an AWS Premier Tier Services and Consulting Partner, which will enable The Co-operative Bank to develop secure, scalable services and solutions tailored to the evolving needs of its customers.

The banking industry faces increasing pressure to keep up with market demands. As customers become less loyal to single institutions, switching more frequently for better service, lower fees and higher rates, banks must innovate to stay competitive. Through this collaboration, Kyndryl will support The Co-operative Bank in modernizing its services to better meet customer expectations.

About The Co-operative Bank
The Co-operative Bank p.l.c. provides a full range of banking products and services to retail and SME (Small and Medium Sized Enterprises) customers and is committed to values and ethics in line with the principles of the co-operative movement. In 1992, The Co-operative Bank took the pioneering step to become the first UK bank to launch a customer-led Ethical Policy, which gives the Bank's customers a say on the ethical issues that are important to them, and how the Bank could help. These answers form the basis of our Ethical Policy, shaping the Bank's ethical commitments, the way in which it will use customer's money and the issues it will campaign for. Since 1992, the Ethical Policy remains unique in the UK and has been updated six times in consultation with the Bank's customers, to reflect their changing priorities. Visit The Co-operative Bank's website for more details on its products and services.

About Kyndryl
Kyndryl (NYSE: KD) is the world's largest IT infrastructure services provider, serving thousands of enterprise customers in more than 60 countries. The company designs, builds, manages and modernizes the complex, mission-critical information systems that the world depends on every day. For more information, visit www.kyndryl.com.

The Co-operative Bank Press Office
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Kyndryl press contact
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