CaixaBank has launched its $5 billion technology investment plan.

The bank said the plan, dubbed ‘Cosmos’, will see it apply generative AI to its business network to boost customer service, revamp current channels, and develop new business, service and operational capabilities.

It first announced the three-year investment scheme, which form part of the Spanish bank’s wider 2025-2027 strategy, last November.

At the time, it said that the move would enable the organisation to improve commercial and service capabilities through generative AI (genAI), while its channels and infrastructure will also be upgraded as part of the plans.

This week the bank said that as part of the investment it will roll out AI to faciliate conversational and operational services to assist employees and customers.

As part of the project, the financial group also announced plans to add 3,000 new employees over the next three years, including 1,000 in IT.

CaixaBank added that the initiative will help speed up transactions and provide a new approach to the customer service model in branches which will offer more customer-centric rather than transaction-centric services.

The scheme will also use AI to automate business processes and transactions, integrating physical, remote and digital channels.

The bank is also considering the development of an AI agent platform to improve business intelligence and efficiency.

“Thanks to this project, the commercial service capability of banking professionals will increase,” it said in a statement. “In addition, customers' digital self-service options will increase, providing them with tools that will allow them to streamline their finances.”

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