The technology subsidiary of Spanish bank CaixaBank has announced it will hire 500 developers in the first quarter of 2025.

The move means that CaixaBank Tech will surpass 1,600 employees over the period.

CaixaBank Tech aims to bring together the banking group's specialised technology and systems teams to drive projects for technological transformation.

The tech arm expects to reach 2,000 employees within three years.

Many of the new jobs will be based in Seville, where the company is opening a new centre in February that focuses on software development. The team is expected to grow from 40 to 200 people.

The move comes as CaixaBank Tech, which also has physical locations in Barcelona and Madrid, has strengthened its team over the past two years, with over 1,100 professionals specialising in financial services technology.

The capabilities sought by CaixaBank Group's technology subsidiary in new hires include software development in backend and frontend specialties, artificial intelligence, data engineers, cloud experts, and data security, among others.

In November 2024, CaixaBank announced plans to spend over €5 billion on technology over the next three years.

It said that the move, which forms part of a wider strategy for the Spanish bank, 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.

The bank's new 2025-2027 strategic plan aims to ensure sustainable levels of profitability above 15 per cent to boost the growth of loans to companies and households, which is expected to increase by a four per cent compound annual growth rate (CAGR) over the period.

CaixaBank also announced this week that its neobank for young people, imagin, exceeded 3.5 million banking customers last year.

The digital-only bank said that it grew by 11 per cent in 2024, with the proportion of adults directly depositing their salary into the bank growing to 50 per cent.

CaixaBank says that nearly half of all the new customers it recruited over the past year came through imagin.

According to GfK statistics, imagin has a 48 per cent market share among the main neobanks and Fintechs in the 18-34-year-old segment in Spain.

CaixaBank says that the application has an average of 60 million monthly visits and more than 11 million transactions per month, 15 per cent more than in 2023.

In 2020, CaixaBank announced it would "transform" imagin into a digital platform dedicated to the creation of digital services, both of a financial and non-financial nature, for the younger user.

Its goal is to promote the growth and loyalty of the youngest customers, who are especially interested in using new technologies in their day-to-day lives and their future projects.

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