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Cybersecurity 23 Feb 2021

BBVA and Google Cloud Form Strategic Partnership to Drive Security Innovation in Financial Services

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BBVA and Google Cloud today announced a new strategic partnership to transform the bank’s security strategy by optimizing and improving its security infrastructure. As part of this global agreement, BBVA will collaborate with Google Cloud in the development of groundbreaking new artificial intelligence (AI) and machine learning (ML) models to predict and prevent cyberattacks against its banking infrastructure, providing a more secure experience for the bank and its customers.

BBVA is the first bank in Europe to deploy Chronicle, Google Cloud’s security analytics platform that allows teams to store and analyze all their security data in one place to detect and investigate threats at scale. BBVA will incorporate Google Cloud´s innovative artificial intelligence capabilities into its security strategy and shape its “Security Operations Center (SOC) of the Future.”

In this center, Google Cloud and BBVA will work to jointly develop a new platform that will allow the bank to adopt a more advanced technology by placing it in a more cost-effective environment, and with greater scalability. The use of Google Cloud’s Chronicle, combined with the expertise of BBVA’s security operations departments, will enable the bank to leverage best-in-class AI capabilities to prevent cyberattacks.

A leap forward on cybersecurity

“This partnership represents a leap forward for the bank, and allows us to be at the forefront in preventing threats to the security of our financial infrastructure and our clients,” said Álvaro Garrido, Chief Security Officer, BBVA. “The platform surprised us in its ability to quickly and accurately mitigate possible threats. Google Cloud’s Chronicle meets our expectations and will be a magnificent partner in this transformation of our security posture, just as Google Cloud has been in other areas of the bank.”

“The Chronicle platform was built to help companies like BBVA improve its security infrastructure, leveraging the speed and scalability of Google Cloud’s technology,” said Derek White, VP Global Financial Services industry, Google Cloud. “This collaboration will solidify Chronicle as one of the key pillars of BBVA’s security infrastructure and will support its strategy in offering its customers a trusted approach to products and services.“.

BBVA has collaborated with Google Cloud to digitally transform its operations since 2011. BBVA is using Google Workspace along with other services from Google Cloud, to promote a new, safe, and more agile collaborative way of working among its employees. These tools allowed for global collaboration, without putting the information and documentation generated at risk.

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