BBVA clinched the title of the best digital bank for businesses in Spain in 2023, according to Global Finance magazine, a US publication specializing in financial markets and investment banking. This recognition was part of the '2023 Best Digital Bank Awards,' where BBVA not only claimed the top spot for digital banking but also received accolades for having the premier mobile banking app for businesses in Spain and Western Europe.
BBVA emerged as the sole Spanish bank to be lauded in two distinct categories in this year's edition of the prestigious awards, an annual tradition upheld by Global Finance since 1987. The awards aim to spotlight innovation within the services offered by diverse financial institutions.
The panel of judges, consisting of editors from Global Finance and experts from the technology consulting firm Infosys, commended BBVA for its robust client acquisition strategy, the quality of services extended to its digital customers, and its prowess in encouraging their active utilization. Mention was also made of the design and functionalities embedded in BBVA's websites and mobile applications dedicated to financial management.
Joseph Giarraputo, the founder and editorial director of Global Finance, underscored the significance of these awards, emphasizing their recognition of institutions leading the charge in digital transformation. He acknowledged the ongoing evolution of offerings driven by the rapid advancements in artificial intelligence and machine learning. The award ceremony is slated for October 17 in London.
BBVA also clinched the title of the best bank for corporate clients in 2023 by Global Finance for the third consecutive time. This recognition stems from BBVA's commitment to furnishing businesses with solutions designed to elevate sales, curtail costs, manage financial risks, and reinforce relationships with employees, suppliers, and customers.
David Arias Tobalina, Head of Business Development for BBVA in Spain, emphasized the bank’s pledge to provide business clients with solutions that enhance their daily operations and aid in making optimal decisions for sustainable business growth. He attributed these recognitions to the collaborative efforts of the business transformation team and managers closely engaged with clients. He underscored their ability to listen to client needs and deliver effective solutions.
New digital capabilities for businesses
BBVA's dedication to delivering cutting-edge financial services and digital solutions that enhance the customer experience has consistently earned accolades from Global Finance in recent years.
Pioneering the introduction of the first business app in Spain, BBVA continues to push boundaries, expanding its suite of digital services tailored for corporate clients. Global Finance specifically highlighted the enhanced digital capabilities of BBVA's app, now boasting an impressive repertoire of over 180 functionalities. Notable features contributing to this accolade include the app's versatility in handling over 50 currencies, offering personalized real-time exchange rates, and facilitating urgent international payments or currency hedges. Furthermore, BBVA's digital solution streamlines online working capital financing, with a specific focus on improving the online management of reverse factoring.
Businesses can group invoices based on due dates, clients, or payment orders on BBVA's website, enabling simultaneous anticipation of multiple invoices, collaboration with diverse clients, and even accessing advances beyond the scheduled period. These digital innovations serve to speed up day-to-day operations and decision-making, contributing significantly to the overall financial health of enterprise users.