As part of the deal, IBM will help the bank store, back up and process over 16 terabytes of information.

National Bank of Ukraine head of the IT department Oleksii Bilash said that the company opted for a system capable to handle the growing flow of incoming data in a fast, reliable and secure way.

"The IBM solution outperformed other offerings in four key criteria: performance, fault tolerance, quick recovery and total cost of ownership," Bilash said.

IBM Ukraine Country general manager Penko Dinev said that the new storage platform for the National Bank of Ukraine is scalable and can easily accommodate the bank’s future needs in terms of data storage or implementing new analytical approaches that will help the bank turn the stored data into financial insight.

Last year alone IBM signed 10 different smarter computing agreements with banks from across Central and Eastern Europe.