BBVA Selects AWS to Accelerate Its Data-Driven Transformation

Gadget Time / Press Releases / AMAZON | Jun 15, 2023

One of the world’s largest financial institutions taps AWS to apply analytics and AI to offer secure, innovative customer solutions and drive efficiencies across its operations

Amazon Web Services, Inc. (AWS), an Amazon.com, Inc. company (NASDAQ: AMZN), today announced that Banco Bilbao Vizcaya Argentaria, S.A. (BBVA), a global banking leader, will use 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.

BBVA will leverage a broad portfolio of AWS analytics and AI services across its operations and create a new data platform that will be deployed globally, delivering a secure repository of BBVA’s operations and customer data. This platform will provide internal business stakeholders with automated business and market insights, increasing operational efficiencies and attracting new customers. AWS Lake Formation and Amazon DataZone will be instrumental in building, managing, and securing access to the data platform, ensuring data governance and compliance while spurring collaboration and information sharing across key business areas. By combining data lakes and data warehouses, the platform will provide business units at BBVA with a unified view of their data and access to more efficient data processing, analysis, and insights.

Amazon SageMaker will enable more than 1,000 data scientists at the BBVA AI Factory, BBVA’s global development center that builds AI capabilities, and other data specialized units to build, train, and deploy machine learning models for any use case and to analyze data more efficiently. In addition, the platform will offer unparalleled scalability, flexibility, and efficiency in managing vast amounts of data for more than 2,800 data engineers and architects. BBVA will gain access to AWS generative AI capabilities and large language models (LLMs), including Amazon Bedrock, a fully managed service that makes foundational models available via an API, to explore the potential of advanced technologies and to help create innovative financial solutions.

“This collaboration with AWS and the construction of our new data platform represent a significant milestone for BBVA,” said Ricardo Oliver, global head of Data Engineering at BBVA. “By embracing the power of AWS for our data strategy, we are improving our data management capabilities, making data available for everyone and leveraging AWS analytical capabilities to boost the impact of our data projects. This strategic collaboration aligns perfectly with our objective of becoming a true data- and AI-driven digital organization.”

“Working with AWS, BBVA can use the most secure cloud computing environment to put data at the center of every application and process,” said Scott Mullins, managing director of Worldwide Financial Services at AWS. “Financial institutions around the world rely on AWS to transform into data-driven companies that make business decisions faster and operate with greater confidence. With AWS, BBVA can harness its data to remain at the forefront of banking innovation, boosting its business insights and developing more compelling and personalized banking services quickly and cost-effectively.”

About Amazon Web Services

Since 2006, Amazon Web Services has been the world’s most comprehensive and broadly adopted cloud. AWS has been continually expanding its services to support virtually any workload, and it now has more than 200 fully featured services for compute, storage, databases, networking, analytics, machine learning and artificial intelligence (AI), Internet of Things (IoT), mobile, security, hybrid, virtual and augmented reality (VR and AR), media, and application development, deployment, and management from 99 Availability Zones within 31 geographic regions, with announced plans for 15 more Availability Zones and five more AWS Regions in Canada, Israel, Malaysia, New Zealand, and Thailand. Millions of customers—including the fastest-growing startups, largest enterprises, and leading government agencies—trust AWS to power their infrastructure, become more agile, and lower costs. To learn more about AWS, visit aws.amazon.com.

About Amazon

Amazon is guided by four principles: customer obsession rather than competitor focus, passion for invention, commitment to operational excellence, and long-term thinking. Amazon strives to be Earth’s Most Customer-Centric Company, Earth’s Best Employer, and Earth’s Safest Place to Work. Customer reviews, 1-Click shopping, personalized recommendations, Prime, Fulfillment by Amazon, AWS, Kindle Direct Publishing, Kindle, Career Choice, Fire tablets, Fire TV, Amazon Echo, Alexa, Just Walk Out technology, Amazon Studios, and The Climate Pledge are some of the things pioneered by Amazon. For more information, visit amazon.com/about and follow @AmazonNews.

About BBVA

BBVA is a customer-centric global financial services group founded in 1857. The Group has a strong leadership position in the Spanish market, is the largest financial institution in Mexico and it has leading franchises in South America. It is also the leading shareholder in Turkey’s Garanti BBVA and has an important investment, transactional and capital markets banking business in the U.S. Its purpose is to bring the age of opportunities to everyone, based on our customers’ real needs: provide the best solutions, helping them make the best financial decisions, through an easy and convenient experience. The institution rests on solid values: Customer comes first, we think big and we are one team. Its responsible banking model aspires to achieve a more inclusive and sustainable society.

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AMAZON
Amazon is guided by four principles: customer obsession rather than competitor focus, passion for invention, commitment to operational excellence, and long-term thinking. Amazon strives to be Earth’s Most Customer-Centric Company, Earth’s Best Employer, and Earth’s Safest Place to Work. Customer reviews, 1-Click shopping, personalized recommendations, Prime, Fulfillment by Amazon, AWS, Kindle Direct Publishing, Kindle, Career Choice, Fire tablets, Fire TV, Amazon Echo, Alexa, Just Walk Out technology, Amazon Studios, and The Climate Pledge are some of the things pioneered by Amazon.
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