Carlos Torres Vila

Carlos Torres Vila, CEO of BBVA, last week participated in the World Economic Forum (WEF) at Davos, Switzerland. In this article, he explains how artificial intelligence and the global debate over the use of data took up a good part of the debates and discussions at this year’s meeting.

In April 2010, when smartphone penetration was still very low in Argentina, BBVA Francés launched an innovative communication channel to be closer to its customers. FrancésGo was the first mobile channel in the financial sector. It allowed customers to obtain information about BBVA Francés card promotions by text message (SMS that all types of devices could receive), segmented by area, type and brand. At the time, customers had to send the word “GO” to a four-digit number. And that's how it all started.

You have to move quickly to bring the future within reach. That’s why I am at Money 20/20 in Las Vegas. It’s an event full of young startups and transformative ideas that will change and evolve rapidly. They discover and understand what needs to change in the world of financial services and use technology to innovate. This is where what will be the next big thing in banking is being discussed.

Although BBVA opened its first U.S. branch in New York City in 1988, it wasn’t until 2004, with the acquisition of a small Southern California bank, Valley Bank, that it rolled out its first retail banking operations in the U.S. Over the next two years, the acquisition of three more banks – Laredo National Bank, Texas State Bank and State National Bank – allowed BBVA to become a leading bank in Texas. By then, it was clear that BBVA was targeting the U.S. market as a pivotal element in its strategy to become a relevant global player. A reality that crystalized 10 years ago, with BBVA’s acquisition of Compass Bank in 2007.

Since the acquisition of Credit Uruguay in 2011, BBVA has established itself as the second private financial institution in the country. In this position, our goal is to help our customers make better financial decisions, offering unique products and services for everyone. An effort our customers have recognized, making us the top bank in Uruguay in the net promoter score.

This year we are celebrating the 55th anniversary of BBVA in Paraguay, a source of great price for the entire BBVA Group and a demonstration of our commitment to the country.

Mexico is celebrating its national holiday this Thursday. An important day, and we want to humbly join in the celebrations by offering a special selection of content focusing on Mexico and BBVA Bancomer on our website, bbva.com.