Spanish banking group BBVA has signed a partnership deal with technology provider Cisco, under which Cisco will become the bank’s priority technology partner and support its digital transformation process.

BBVA in a statement that the partnership will enable the bank to reach alliances that will help speed up adoption of innovative technologies, digitisation of its business as well as the global upgrading, deployment and operation of solutions.

The two companies will also collaborate technologically to develop the products and services.

The agreement will streamline collaboration along three major lines, namely networking, unified collaboration solutions, and connectivity, the Spanish lender added.

BBVA CEO Carlos Torres Vila said: "This agreement with Cisco is part of our strategy of partnering with global solutions providers and create a new ecosystem with large partners, capable of supporting our transformation process."