The agreement with Red Hat is part of a series of alliances that BBVA is aiming to forge with strategic partners.
In February, BBVA signed a strategic alliance with Cisco for digital transformation process.
The partnership will support BBVA to accelerate innovation, manage the growth of financial transactions on digital devices and deliver digital banking services to its global customers
BBVA Head of Engineering Ricardo Moreno said: "We are facing a new scenario that requires keeping the customer at the center of everything we do, and technology is one of the key levers to tackle this transformation process.
"This collaboration agreement with Red Hat will help us to capitalize on the opportunities offered by cloud computing technologies, in order to continue making strides in our process of becoming a more flexible and scalable digital bank."
Under the partnership, Red Hat will offer its new Infrastructure-as-a-Service (IaaS) and Platform-as-a-Service (PaaS)-based platform which will allow BBVA to develop applications that can support the heavy demands of global digital bank services.
Red Hat president and CEO Jim Whitehurst said: "BBVA is a fantastic example of a global enterprise that has turned to an open source-based cloud to drive business innovation through technology.
"With a modern and flexible IaaS and PaaS-based platform, BBVA will be well-poised to take advantage of the opportunities presented by the fast-evolving digital economy and help meet growing customer expectations in these areas."
Both the companies plan to work together on training and enablement initiatives designed to help BBVA manage its transformation and adopt new technologies, enable knowledge transfer and offer support.
In March, BBVA said that it was upgrading its ATM network with Wincor Nixdorf’s CINEO cash recycling systems to enable banknotes deposited by customers to be reused for cash withdrawals.
