BBVA, best bank in financial technology in Latin America, according to ‘Global Finance’
Global Finance magazine has chosen BBVA as the best technological bank in Latin America in 2018. Since the outbreak of the financial crisis, the world of fintech and new technologies have become an increasingly pivotal component of financial institutions and transactional security. That’s what’s driven the prestigious publication to pay tribute to the institutions that are doing a great job at harnessing the power of these new technologies.
Global Finance said that BBVA has forged strategic partnerships that have strengthened its technological capabilities in all the countries in which it operates. "We have signed strategic alliances with AWS, Google, Microsoft, Salesforce, IBM and Cisco, and partner with startups such as Datio and Veridas,” says Victor Espinosa, head of strategy of BBVA’s Engineering.
The publication also cited BBVA’s investments in startups such as solarisBank, Atom Bank and Mexico’s Openpay as another unique element of BBVA’s tech strategy. Also, Global Finance noted BBVA’s determination to support the entrepreneur ecosystem, with initiatives such as the Open Talent competition, which aims to find the most disruptive fintech startups. All this bears witness to its commitment to transform the future of financial services, the magazine said.
Global Finance also underscored BBVA’s commitment to security, a field in which more and more specialized entrants keep popping up every day. For this purpose, the bank analyzes the whole life cycle of the information and the services, using data and AI-powered technologies to anticipate potential security risks. According to Álvaro Garrido, head of Information and Security in BBVA’s Engineering: “We are also working with our customers to raise awareness, educate them and provide them with easy-to-use security mechanisms that strike the right balance between security and usability.”
This award is part of Global Finance’s Investment Banking Awards. This year, Global Finance recognized BBVA as leader in investment banking in Spain and Mexico, and best investment bank in Latin America.