BBVA – Digital Transformation Strategies

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Published: August 29, 2024 Report Code: GDDT0849ES-ST

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BBVA Digital Transformation Strategies Overview

BBVA is investing in emerging technologies to accelerate its digital transformation strategy. AI, big data, cloud, and payments are among the key technologies under focus for the company. The annual ICT spending of BBVA was estimated at $2.3 billion in 2024. A major share of this spending is earmarked for acquiring software, ICT services, and network and communications from vendors.

BBVA is a provider of retail banking, private banking, asset management, wholesale banking, and other related financial solutions. Retail banking comprises accounts, cards, loans, mortgages, investments, and digital programs. It offers private banking solutions such as investment and advisory services, mortgage solutions, and small business solutions. Asset management contains asset monitoring, credit oversight, asset investment strategy establishment, and bespoke asset allocation. Wholesale Banking includes business lending, merchant services, liquidity management, treasury management, and business-related solutions. BBVA also operates in other non-core sectors such as real estate, operational leasing, and insurance. The group offers its services through a network of branch offices, ATMs, and online portals in Asia-Pacific, Latin America, Europe, and North America.

The BBVA digital transformation strategies report will act as a reference point to understand a company/competitor’s digital strategy. It will also help in understanding the digital preparedness of the company against its peers. The information included in these reports is sourced from a mix of our very own internal database and authentic secondary research links such as the company’s annual report, presentations, press releases, etc. The report covers an overview of the company, its digital transformation strategies, technology focus areas, technology initiatives, technology introductions, partnerships, investments, acquisitions, and ICT spending among others.

Total ICT Spending 2024 $2.3 billion
ICT Spend by Function Network, Application, Data Center, Management, End-User Computing, Communications, and ICT Service Desk
ICT Spend by Channel Internal Development and Maintenance, Technology Vendors (Direct), ICT Services Providers/Consulting Firms, Local Resellers, Telcos, Specialist Outsourcers, and Systems Integrators
External ICT Spend by Segment Software (including Cloud SaaS), ICT services, Network and communications, Hardware (including Cloud Iaas), Consulting, and Others
Technology Theme Focus Artificial Intelligence, Big Data, Blockchain, Cloud, and Cybersecurity
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Digital Transformation Strategies

BBVA is utilizing artificial intelligence and machine learning technologies to automate repetitive tasks and enhance customer experiences. BBVA established an in-house AI Factory to explore potential opportunities around AI and develop solutions that help streamline internal processes. BBVA has also collaborated with tech companies to provide innovative products and services to its customers. In 2024, BBVA signed a strategic agreement with OpenAI to start deploying its advanced tools among its employees. It aims to explore the use cases of generative AI in its business processes, to improve productivity, and foster innovation.

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BBVA Technology Theme Focus

BBVA is tapping the power of key disruptive technologies to enhance its operational and service capabilities. AI, ML, big data, blockchain, cloud, robotic process automation, fintech, open banking, payments, and cybersecurity are among the key technologies that the company is focusing on.

BBVA Technology Theme Focus

BBVA Technology Theme Focus

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BBVA Technology Initiatives

BBVA has been involved in several strategic technology partnerships and collaborations, technology rollouts, and acquisitions over the past few years. For instance, Garanti BBVA introduced the GIA chatbot, designed to enhance customer experience and simplify support services. The GIA virtual assistant, available on all devices can respond to customer inquiries in two languages, Romanian and English, providing answers to frequently asked questions and assistance for complex customer needs. Customers can engage with the virtual assistant by visiting the bank’s website and accessing the chat window on the homepage.

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BBVA ICT Spend by Function

  • Network
  • Application
  • Data center
  • Management
  • End-user computing
  • Communications
  • ICT service desk

BBVA ICT Spend by Function, 2024(%)

BBVA ICT Spend by Function, 2024(%)

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BBVA ICT Spend by Channel

  • Internal development and maintenance
  • Technology vendors (direct)
  • ICT services providers/Consulting firms
  • Local resellers
  • Telcos
  • Specialist outsourcers
  • Systems integrators

BBVA ICT Spend by Channel, 2024(%)

BBVA ICT Spend by Channel, 2024(%)

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BBVA External ICT Spend by Segment

  • Software (including Cloud SaaS)
  • ICT services
  • Network and communications
  • Hardware (including Cloud Iaas)
  • Consulting
  • Others

BBVA External ICT Spend by Segment, 2024(%)

BBVA External ICT Spend by Segment, 2024(%)

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Scope

This report provides:

  • Insight into BBVA’s technology activities.

  • Overview of technology initiatives covering product launches, partnerships, investments, and acquisitions.

  • Insights on each technology initiative including technology theme, objective, and benefits.

  • Details of estimated ICT budgets.

Reasons to Buy

  • Gain insights into BBVA’s technology operations.

  • Gain insights into its technology strategies and innovation initiatives.

  • Gain insights into its technology themes under focus.

  • Gain insights into its various product launches, partnerships, investments, and acquisitions.

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Table of Contents

  • Overview

  • – Brief information about the company, its business divisions, and its financials

  • Digital Transformation Strategy

  • – A summary of key digital strategies/implementation efforts of the company

  • Accelerators, Incubators, and Other Innovation Programs

  • – Discusses the company’s key strategic units, innovation labs, incubation and accelerator programs dedicated to technology innovation

  • Technology Focus

  • – Lists the technology themes pertinent to the industry the company operates in and highlights the themes adopted by the company

  • Technology Initiatives

  • – Discussion about all the technology introductions & partnerships the company has entered

  • Investment

  • – Brief discussion about the investments made by the company to acquire new technologies

  • Acquisitions

  • – Brief discussion about the acquisitions by the company

  • Partnership, Investment, & Acquisition Network Map

  • – A bird’s eye view of all the partnerships/investments/acquisitions that the company has made in the last 3-5 years

  • ICT Budget and Contracts

  • – The company’s ICT budget segregated into hardware, software, and managed IT services

  • Key Executives

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