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December 24, 2021

BBVA taps Accenture to accelerate digital transformation 

By Shivam Mishra

Spanish bank Banco Bilbao Vizcaya Argentaria (BBVA) has selected Accenture to accelerate its digital transformation and apply analytics and artificial intelligence (AI) for enhancing user experience.

The firms have signed a ten-year collaborative agreement aimed at improving the agility of BBVA’s operations by updating processes and adapting to new ways of working with AI and analytics.

The tie-up will allow the bank to use Accenture’s AI-powered SynOps platform to make data-driven decisions, improve operational cost and simplify services.

Additionally, the partnership is aimed at accelerating the digital transformation across BBVA’s core operations to equip it with deeper insights.

Accenture Operations group chief executive said Manish Sharma said: “The banking industry has a long history of adapting technology in ways that transform how they operate, interact with customers and increase market share. Our collaboration with BBVA aims to create future-readiness while rising above dynamic market conditions and pivoting to new sources of value.”

Last month, the Spanish banking giant joined forces with venture capital firm 500 Global to identify disruptive startups and technologies for financial services.

The firms plan to develop a platform to promote new collaborations and pilot projects between the bank and startups.

Earlier, it announced plans to launch a digital retail banking arm in Italy as part of its expansion plans.

Recently, the lender also launched a $2.25bn takeover bid for the remaining stake in Turkish lender Garanti.

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