BBVA, Banco Santander and CaixaBank have joined forces to tackle one of the biggest challenges facing the banking sector, financial fraud. The three Spanish banks are working on tools to exchange relevant information and data to help prevent financial crime.

Iberpay, Swift, BBVA and several international banks have successfully completed the first pilot to process, in a real environment, instant payments between different currency areas. Their ultimate goal is to improve these international payments involving currency exchange in terms of speed, transparency, cost, availability and accessibility.

Chatbots have been automating everyday customer service tasks for years: they lighten the workload for employees and help businesses save time and money. The emergence of ChatGPT, however, has widened the scope of the technology, and its potential for streamlining and maximizing business processes, beyond anything we’ve seen before. The new chatbots can even write e-mails and debug computer code. ChatGPT’s instant popularity has prompted well-known app factories to launch a flood of similar artificial intelligence tools, but the benefits it offers for a specific range of communication and analysis tasks also come with limitations in a business setting.

The bank’s Deputy General Manager Işıl Akdemir Evlioğlu recently spoke with the Turkish edition of Fortune magazine to discuss Garanti BBVA's winning digital banking proposition.

The financial institution is launching a new job portal to attract people with technological backgrounds in the different countries where it has a presence. The Group expects to end 2023 with over 2,600 new hires of this type of professionals, 1,000 of which will be in Spain.

With an end-to-end vision firmly focused on prevention and customer protection, BBVA launches a new unit to further strengthen the bank’s financial crime prevention structure. Technology, advanced analytical models and artificial intelligence will be decisive in ensuring the proactive protection of customers, the bank itself and society, and are what underpin this cutting-edge unit within the Spanish banking industry.

The bank offers its data scientists and engineers an extensive and continuous training ecosystem, both in-house and in partnershipwith top international universities and educational institutions,so that they may apply the latest advances in artificialintelligence, machine learning and advanced analytics in thedevelopment of cutting-edge financial products. In addition, italso offers training to other professional profiles so that they canuse data analytics to solve business challenges in their areas.In just 5 years, the BBVA Campus has trained more than50,000 employees, including 900 data scientists, through theData University.

BBVA has now added to its product offering an ETN issued by Fidelity Exchange Traded Products GmbH that tracks the performance of bitcoin. Customers who qualify under the MiFID suitability assessment can sign up for the new product via BBVA's website or smartphone app.

BBVA Chair Carlos Torres Vila concluded the sixth edition of BBVA Open Summit, the annual entrepreneurship event, recalling the bank’s commitment to innovation. “BBVA has 600 million committed to various venture capital funds. The recent focus of these investments is on driving decarbonization and the development of innovative entrepreneurship in our main markets. Both areas make strategic sense for BBVA, to incorporate new knowledge into the Group and to support the companies we want to be our customers,” said Torres Vila at the closing of the event.

BBVA uses AWS to deliver advanced analytics and data services in the cloud, taking a decisive step in its data and artificial intelligence (AI) transformation process. As part of its transformation into a data- and AI-driven organization, BBVA will use AWS to harness analytics and machine learning to transform its internal processes, improve risk management, drive growth, and provide innovative solutions for its customers.