BBVA has selected Amazon Web Services (AWS) to deliver advanced analytics and data services in the cloud, as part of its data and artificial intelligence (AI) transformation process.
The Spanish lender to upgrade its internal processes, improve risk management, drive growth, and provide advanced solutions to customers.
BBVA will use AWS’s broad portfolio of analytics, AI, and machine learning (ML) services across its operations and create a new data platform.
The new platform will be deployed worldwide, to deliver a secure repository of BBVA’s operations and customer data.
It is expected to provide automated business and market insights to internal business stakeholders, increase operational efficiency and attract new customers, said BBVA.
BBVA data engineering global head Ricardo Oliver said: “This collaboration with AWS and the construction of our new data platform represent a significant milestone for BBVA.
“By embracing the power of AWS for our data strategy, we are improving our data management capabilities, making data available for everyone and leveraging AWS analytical capabilities to boost the impact of our data projects.
“This strategic collaboration aligns perfectly with our objective of becoming a true data- and AI-driven digital organization.”
The Spanish bank will use AWS Lake Formation and Amazon DataZone tools for building, managing, and securing access to the data platform.
With data lakes and data warehouses, the platform will provide BBVA business units with a unified view of their data and access to data processing, analysis, and insights.
BBVA will also use Amazon SageMaker, which will deploy more than 1,000 data scientists at the BBVA AI Factory, the bank’s global development centre.
BBVA AI Factory builds AI capabilities, and other data specialised units to build, train, and deploy machine learning models and data analysis.
In addition, the platform will offer superior scalability, flexibility, and effectiveness in managing large volumes of data for more than 2,800 data engineers and architects.
BBVA will obtain access to AWS generative AI capabilities and large language models (LLMs), to explore advanced technologies and to help create new financial solutions.
AWS worldwide financial services managing director Scott Mullins said: “Working with AWS, BBVA can use the most secure cloud computing environment to put data at the center of every application and process.
“Financial institutions around the world rely on AWS to transform into data-driven companies that make business decisions faster and operate with greater confidence.
