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Digital banking 27 Mar 2019

BBVA partners with Telefónica for its telecommunications services in Spain

BBVA and Telefónica have signed a strategic agreement that designates the operator as the single telecommunications service provider for the bank and its employees in Spain. The alliance will allow BBVA to optimize its communications systems, increase the capacity of its technology network, and extend its adoption of cloud computing, providing a distinctive advantage to the business’ needs.

The heads of the Spanish units for both companies, Cristina de Parias and Emilio Gayo, signed the agreement today, which consummates in Spain the global agreement signed in October 2017 by Carlos Torres Vila, former CEO and current executive chairman of BBVA, and Telefónica’s CEO, Ángel Vilá.

“Benefiting from a leading company like Telefónica, with this agreement BBVA continues to execute on its strategy to offer its customers and employees the best service. It is the first time a partner is providing all of our telecommunications services together, which allows us to see efficiencies and take full advantage of its technological potential,” Cristina de Parias, BBVA Spain’s country manager said.

Emilio Gayo, CEO of Telefónica Spain, stressed the importance of the agreement, given that “BBVA is an international leader in digital transformation in its sector, and it is a point of pride to be able to join the bank in this process. Telefónica has the ideal solutions to optimize communications and technology processes, and it is delivering them to BBVA where they will be adapted to the bank's needs and for its customers.”

Telefónica thus becomes BBVA's leading partner for communications and digital services, providing voice and data telecommunications, IoT, Contact Center, and audiovisual solutions. In addition, they will guarantee the new broadband requirements dictated by cloud environments and the exponential explosion of transactions that are inherent to digital banking services.

The agreement will also result in improved communications between the offices in the bank’s network, in order to deliver a much more streamlined, secure, and fast experience to its customers across all channels.

One of the most innovative aspects of the alliance is the pilot launch at BBVA’s headquarters in Madrid that will facilitate the deployment of 5G technology. This combination of disruptive solutions with the latest telecommunications capabilities permits more efficient management of external visitors and improves the employees’ experience.

Selecting a single partner to digitize its communications in Spain delivers BBVA advantages such as agility, ease of use, efficiency, and it allows the bank to make the most of technological developments.

The alliance with Telefónica underpins BBVA’s strategy to have an integrated ecosystem delivered by leading international partners, supporting the bank's transformation plan. It accelerates the bank’s ability to adopt innovative technology and continue the digitalization of the business. It also improves the delivery time of upgrading, deploying, and running the bank’s global solutions.