BBVA Compass was named Best Digital Bank in North America by global financial magazine Euromoney during a July 6 ceremony at the Tower of London.
The Euromoney 2016 Award for Excellence caps off a journey the U.S. subsidiary of BBVA began in late 2012 when it completed the overhaul of its core technology system into a real-time platform. The project totaled more than $360 million and made BBVA Compass one of the first financial institutions in the U.S. to implement real-time processing. The new core system also allowed the bank to open its platform to digital innovators, like Dwolla and eCredable, becoming the first major bank to do so to such an extent.
“This award is evidence of what BBVA Compass has accomplished in a relatively short amount of time,” said BBVA Compass Chairman and CEO Manolo Sánchez. “Our drive and ambition to be an agent of change in banking has been recognized on a global scale, which would not have been possible without the many hours of hard work and singular ambition of our employees.”
“This award is evidence of what BBVA Compass has accomplished in a relatively short amount of time,” said BBVA Compass Chairman and CEO Manolo Sánchez.
In recognizing the bank, Euromoney noted, “Whereas large North American banks have pushed back against disruptors, BBVA Compass exemplifies what can happen when a bank embraces them.” As evidence, the publication cited the bank’s collaborations with Dwolla, FutureAdvisor and eCredable.
The strides the bank has made in mobile were also recognized, with its focus on mobile technology notching big wins in 2015, including Money magazine naming it the Best Mobile Banking App on the market. Javelin Strategy & Research also recognized it with the 2015 Javelin Mobile Banking Leader award for Functionality for the second year in 2015, an honor which it recently won a third time, along with being named a Leader in the Most Comprehensive Alerts.
The recognition for BBVA Compass was among the cadre of awards BBVA and its subsidiaries collected, including Banker of the Year for BBVA Global Executive Chairman Francisco González.
A complete listing of the awards can be found here.