March 30, 2011

To help support the aggressive technology transformation of its U.S. banking franchise, Banco Bilbao Vizcaya Argentaria, S.A. (BBVA, Madrid) has selected Accenture's (New York) Alnova Financial Solutions technology platform. The agreement with Accenture to deploy the new core banking solution will position BBVA's U.S. banking subsidiary -- BBVA Compass -- as one of the first major U.S. banks with real-time processing capabilities, according to the financial institution. This will allow immediate posting of deposits and loan payments for increased efficiencies. BBVA said it also expects the new core technology platform to improve product time-to-market, allowing the bank to quickly adapt to evolving customer preferences while at the same time proactively addressing changing regulations.

"In this new banking environment, having an efficient and highly flexible technology system is critical to outperforming the competition and meeting new regulatory requirements," said Manolo Sanchez, BBVA U.S. Country Manager and president and CEO of BBVA Compass, in a press release. "By bringing this powerful and flexible technology to the U.S., we can increase our focus on the rapidly changing needs of our customers, provide them with more personalized and innovative services, and increase the efficiency with which we deliver our products and services to market. This investment represents a significant milestone in the implementation of the BBVA universal banking model in the U.S. and embodies our belief that technology will play an important role in creating a more transparent and efficient banking system."

Accenture's Alnova Financial Solutions, which BBVA currently uses in nine other countries, will support BBVA Compass' operations across Texas, New Mexico, Florida, Colorado, California, Arizona and Alabama. It is designed to improve the bank's cross-selling and customer retention, increase efficiencies and further align the bank's global operations by integrating its U.S. banking network into a common IT platform. According to BBVA, the solution will deliver real-time bank processing capabilities and support increased transaction volumes for BBVA Compass, while streamlining and enhancing the bank's risk management functions.

The Alnova Financial Solutions core banking solution, part of Accenture Software, Accenture's dedicated software business, has more than 100 clients in more than 20 countries. The Alnova solution supports real-time processing, integrated channel delivery and customer relationship management. Accenture's agreement with BBVA Compass marks the debut of Alnova in the North American banking market.

"The U.S. banking market requires strong service differentiation and the capacity to quickly and efficiently adapt to changing customer demands," said Juan Pedro Moreno, managing director of Accenture Core Banking Services, in the press release. Added Colin Davies, managing director, Accenture Software, "BBVA has long recognized the importance of a truly customer-centric business model and understands the key role technology plays. Alnova will help BBVA offer its customers a seamless banking experience and help BBVA quickly and efficiently adapt to the changing requirements of the market, including regulatory requirements."

The BBVA Group maintains a leadership position in Spain, Mexico, Latin America and the Sunbelt Region of the United States. BBVA is also developing strong operations in Asia, specifically in China, and recently entered the Turkish market with a strategic stake in Turkiye Garanti Bankasi, the leading bank in Turkey.

ABOUT THE AUTHOR
Katherine Burger is Editorial Director of Bank Systems & Technology and Insurance & Technology, members of UBM TechWeb's InformationWeek Financial Services. She assumed leadership of Bank Systems & Technology in 2003 and of Insurance & ...