BBVA wins The Banker Award for tech initiatives

This is for the second time that it has won the 'Best Bank in Spain' Award:

- mohan@bankingfrontiers.​com

BBVA, or Banco Bilbao Vizcaya Argentaria, the Spanish multinational financial services company based in Bilbao, has been named recently by British financial affairs publication The Banker as the 'Global Bank of the Year' and the 'Best Bank in Western Europe, Spain, Peru, and Colombia'. The magazine also recognized the bank for its innovation in digital banking, blockchain technology and open banking initiatives. The bank's blockchain corporate lending platform was uniquely praised for its ability to improve efficiency and transparency.

This is for the second time that the bank has been named 'Best Bank in Spain' by The Banker. It had won the award in 2022.

The bank has also won a global award for financial inclusion for its work through the BBVA Microfinance Foundation.

JOINS HANDS WITH OPENAI

One of BBVA's recent digital initiatives has been its collaboration with OpenAI to integrate generative AI into its employees' day-to-day work. The bank had made AI one of the core drivers of its innovation strategy and stayed ahead of the industry by implementing more than 1100 AI models, enabling customers to interact with tools that predict their financial needs and suggest personalized solutions. It has also automated internal processes, achieving significant gains like streamlined document management and agile creation of marketing campaigns.