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With 47 million customers in more than 30 countries, BBVA is one of the eurozone’s 10 largest banks. When BBVA decided it needed to unify new subsidiaries, it came to Accenture for a technology strategy and platform to transform and integrate the new units.
From its Spanish origins, BBVA expanded to Latin America and the United States, where it is now the 24th largest bank in terms of assets. In addition, BBVA has a strategic agreement with China Citic Bank, providing a strong Asian focus. Today, BBVA has 8,000 branches and employs approximately 112,000 people worldwide.
BBVA’s operating model, built on the accumulated experience of 150 entities that have come together over time, is a key to its ability to successfully expand. This strength and differentiating characteristic has made BBVA an undisputed leader in efficiency through economic cycles.
BBVA has achieved world-class efficiency and value creation through continuous improvement and innovation founded on a solid, standardized technological platform.
However, historically, integrating Latin American banks has proven difficult because of the specific characteristics of each market, the socioeconomic diversity of the various countries and the size of each financial institution involved.
The challenge was to transform BBVA's institutions into more efficient organizations devoted to universal banking.
Accenture helped BBVA develop a technology strategy and platform based on Alnova Financial Solutions to transform and seamlessly integrate newly acquired BBVA subsidiaries under a unified scheme.
Over 10 years Accenture and BBVA implemented the solution at subsidiaries in eight countries. The new platform allowed BBVA to standardize its global operations, consolidate its management information and achieve efficiency in its Latin American subsidiaries. The U.S., with BBVA Compass, is the latest country to be added to this strategy.
The program enabled BBVA to achieve a LatAm average efficiency ratio of 43 percent and a LatAm average ROE of 38.2 percent—representing up to a 10 percent efficiency improvement in these subsidiaries.
The transformation projects enabled a range of business benefits. Broad and normalized functional coverage has enabled the banks to devote themselves to universal banking. Process automation has delivered significant operational efficiencies. The introduction of processes and technologies allowing customer segmentation, unique customer points of view and better customer experiences has enabled the banks to achieve true customer focus.
In turn, this has led to commercial efficiency through cross-selling, CRM and communication tools. And there is also built-in, standardized and consolidated management information for the entire enterprise.
The use of a standard international platform means that BBVA has been able to standardize its international operations and achieve greater efficiency in its subsidiaries. Its flexibility allows the BBVA model to be exported but modified for local requirements. Rationalization and automation of the operating procedures of each of its banks has produced reductions of approximately 30 percent in the tasks of central back offices, and 13 percent in branch back offices.
Centralization of IT services has produced economies of scale and reduced costs. And, overall, subsidiaries have been modernized, and are equipped to cope with growth and the challenges of scalability.
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