BBVA and Cisco Strengthen its Strategic Partnership to Accelerate Digital Transformation and Foster Innovation
The global financial services group Banco Bilbao Vizcaya Argentaria, S.A. (BBVA) signs a Strategic Whole Portfolio Agreement with Cisco. The agreement gives BBVA access to Cisco’s full software portfolio, world-class technology and Customer Experience (CX) services, supporting the bank’s digitization journey. Five-year agreement enables BBVA to integrate continuous innovation into daily operations, enhancing speed, agility, and offering the latest in digital financial services.
BBVA and Cisco (NASDAQ: CSCO) today announced the companies have deepened their strategic alliance and signed a Strategic Whole Portfolio Agreement (WPA), providing BBVA faster access to Cisco’s comprehensive software and Customer Experience (CX) portfolio. BBVA is the first EMEA-based financial services institution to sign a WPA with Cisco in Europe and Latin America.
The five-year agreement includes solutions in cybersecurity, collaboration, data center, networking and services. The agreement with BBVA spans operations across multiple countries. It includes proactive services provided by a specialized Cisco team and promotes collaborative innovation. Additionally, the deal simplifies management by consolidating 3,000 individual contracts into a single unified agreement. This streamlines BBVA’s global IT operations, significantly improving efficiency.
“BBVA’s alliance with Cisco is more than a supplier-customer relationship. After 8 years of Strategic Partnership working together, BBVA premises and employees worldwide will have access to not only current but future Cisco technological developments.” says José Luis Elechiguerra, Global Head of Engineering de BBVA. “Additionally, the agreement allows BBVA to achieve significant efficiency and productivity gains”, adds Jordi García, Global Head of Strategy & Performance of Engineering at BBVA.
According to Oliver Tuszik, President of Cisco’s Europe, Middle East and Africa region (EMEA), “We are proud to support the continued growth of one of the world's leading financial institutions. For over a decade, BBVA has pioneered the digitization of banking in Spain and globally by putting customer experience at the center. During the next stage of our strategic partnership, together we will leverage the power of Cisco’s whole portfolio, including the latest AI-driven innovations, to accelerate their transformation.”
BBVA is a customer-centric, global financial services group founded in 1857. Winner of Global Finance’s 2023 Best Digital Bank Awards for Spanish businesses, its services include retail banking, private banking, asset management, wholesale banking and other related financial solutions.
Since 2016, BBVA and Cisco have collaborated to accelerate the digital transformation of the bank leveraging technologies like collaboration, networking, data center, and security. This strategic digital partnership, along with alliances with other leading tech companies, has accelerated BBVA’ s transformation. As an early adopter of digitalization, BBVA is now at the forefront of financial services innovation.