In a move poised to accelerate its digital transformation journey, Banco Bilbao Vizcaya Argentaria, S.A. (BBVA), a leading global financial services group, has signed a Strategic Whole Portfolio Agreement (WPA) with Cisco. This five-year agreement marks a significant expansion of their existing strategic partnership, initiated in 2016.
Enhanced Access to Cutting-Edge Technology
The WPA grants BBVA faster access to Cisco’s comprehensive suite of software, world-class technology solutions, and Customer Experience (CX) services. This expanded access will empower BBVA to:
- Embrace Continuous Innovation: By readily integrating the latest advancements from Cisco, BBVA can foster a culture of continuous innovation within its day-to-day operations. This translates to increased agility and the ability to deliver the most up-to-date digital financial services to its customers.
- Boost Speed and Efficiency: The agreement streamlines BBVA’s global IT infrastructure by consolidating over 3,000 individual contracts into a single unified agreement. This simplification enhances overall efficiency and reduces administrative burdens.
Broad Spectrum of Solutions for a Holistic Transformation
The agreement encompasses a wide range of Cisco’s solutions, including:
- Cybersecurity: Robust security solutions are crucial for protecting sensitive financial data in today’s digital landscape. Cisco’s offerings will fortify BBVA’s defenses against cyber threats.
- Collaboration: Enhanced collaboration tools will foster seamless communication and teamwork within BBVA, leading to improved productivity and innovation.
- Data Center and Networking: Cutting-edge data center and networking solutions will provide BBVA with a strong foundation for its digital infrastructure, ensuring scalability and reliability.
A Pioneering Partnership for the Future of Finance
This strengthened partnership positions BBVA at the forefront of digital transformation within the financial services industry. As José Luis Elechiguerra, Global Head of Engineering at BBVA, stated, the alliance “is more than a supplier-customer relationship.” It fosters collaborative innovation and empowers BBVA to leverage not only current technologies but also future advancements from Cisco.
Benefits Beyond Technology
The agreement extends beyond mere technological solutions. According to Jordi García, Global Head of Strategy & Performance of Engineering at BBVA, the partnership will also lead to “significant efficiency and productivity gains.” This translates to cost savings and a more streamlined operational structure for BBVA.
A Testament to Cisco’s Expertise
Oliver Tuszik, President of Cisco’s Europe region, highlighted BBVA’s role as a pioneer in digitalization. By choosing Cisco as a strategic partner, BBVA underscores its commitment to remaining at the forefront of financial services innovation.
A Tech Futurist take on Looking Ahead: A Collaborative Future
This expanded partnership between BBVA and Cisco signifies a significant development in the digital transformation landscape. With BBVA armed with Cisco’s advanced technology solutions and expertise, both companies are poised to shape the future of digital finance through continuous innovation and a commitment to excellence.
