Spanish banking group BBVA has entered into a strategic alliance with technology firm Intel to further accelerate its digital transformation.

The collaboration will enable BBVA to optimise its data storage and processing systems leveraging Intel’s capabilities.

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The move will also support the development of AI-driven digital banking services.

Furthermore, BBVA plans to utilise Intel’s expertise to deploy data-mining architectures.

BBVA global head of architecture engineering said: “This agreement will support our efforts to provide the bank with the technological infrastructures and capabilities necessary to continue leading the financial sector’s digital transformation.”

Intel Spain country lead Norberto Mateos Carrascal said: “The financial sector continues to lead technological adoption and is a key player in the digital transformation process that our society is undergoing.

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“This collaboration with BBVA demonstrates Intel’s commitment to accelerate business leaders’ integration of the latest technological advances in the fields of infrastructures, hybrid cloud and artificial intelligence in order to translate them into more efficient services and personalized services.”

In the recent years, BBVA has signed several technological partnerships in a bid to transform into a scalable digital entity.

Since 2016, the company partnered with Cisco, Amazon Web Services and IBM, among others, as part of the initiative.

In June, BBVA opened an AI Factory near Madrid to support further exploration how AI solutions can support its business.

The Spanish lender also revealed plans to make digital customer on-boarding available across all its operating territories by the end of this year.