“We want to double the number of corporate clients that rely on BBVA Pivot”
BBVA strengthens its offering for multinational companies with BBVA Pivot. Behind the renewal of its global treasury services lies a strategy to conquer a space that still offers great potential for growth. "We want to double the number of corporate clients that have implemented and operate with BBVA Pivot," says Javier Balbin, Global Head of Enterprise Solutions at BBVA.
The SME, business and corporate business (including the wholesale banking area, Corporate & Investment Banking, CIB) accounts for 45% to 50% of the Group's profits. Despite its significant weight in the financial business, BBVA considers that the segment still holds great growth potential.
According to Balbin, among its key goals, with its new BBVA Pivot offering, the unit seeks to double its current customer base to 2,000 business groups in the coming years. As of the end of May, over 1,000 clients were already using BBVA Pivot.
A single contract
"The volume of transactions that we process annually through these services exceeds €370 billion, a figure close to the Ireland’s GDP", said BBVA’s Global Head of Enterprise Solutions. The current challenge to grow in the world of multinational treasury services is to simplify these complex management processes, which involve operations taking place under different currencies, time zones and even regulations. BBVA Pivot's commitment is to offer a better customer experience with a unique global service.
"We want to accompany companies that operate in different countries, or which may be thinking about venturing into new markets, with a renewed proposition, starting from the first point of contact with the client, to make life easier for their financial managers," says Balbin, who underscores that “BBVA Pivot’s distinguishing feature is that it only requires clients to sign a single contract to start benefiting from its treasury services across all the markets where they need them, without having to visit a different branch in Peru, Colombia, Mexico or Spain.”
Javier Balbin, Global Head of Enterprise Solutions at BBVA
BBVA Pivot offers this consistent experience across all countries, with a single point of contact and a new level of service delivered by BBVA's company relationship managers and cash management specialists, while maintaining its innovative drive.
“There are services, such as payroll or vendor payments, where failure is not an option”
In this sense, BBVA believes that it has an edge over up-and-coming fintech competitors. “There are services, such as payroll or vendor payments, where failure is not an option; they are key processes for companies, as they determine its liquidity to face day to day operations. They are complex services where, in order to compete you need to have a global presence and an experience that builds clients’ trust,” said Balbín.
Furthermore, Balbin noted that BBVA is working hand in hand with companies, listening to their pain points to come up with solutions and to keep making progress in the deployment of new innovative services.
BBVA Pivot brings together BBVA’s comprehensive suite of solutions to support companies in their international activity and help them manage their daily activities more efficiently. The solution enables centralizing operations in 15 countries with 24 currencies through direct channels, SWIFT, web or 'app'; with expert and comprehensive support throughout the process.
The service is already available for companies in South America (Argentina, Peru, Colombia, Uruguay, Venezuela and through its partner in Chile), Europe (Spain, Turkey, Belgium, France, Portugal and the United Kingdom) Mexico, the United States and Hong Kong.
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