Connect with us

Global Banking and Finance Review is an online platform offering news, analysis, and opinion on the latest trends, developments, and innovations in the banking and finance industry worldwide. The platform covers a diverse range of topics, including banking, insurance, investment, wealth management, fintech, and regulatory issues. The website publishes news, press releases, opinion and advertorials on various financial organizations, products and services which are commissioned from various Companies, Organizations, PR agencies, Bloggers etc. These commissioned articles are commercial in nature. This is not to be considered as financial advice and should be considered only for information purposes. It does not reflect the views or opinion of our website and is not to be considered an endorsement or a recommendation. We cannot guarantee the accuracy or applicability of any information provided with respect to your individual or personal circumstances. Please seek Professional advice from a qualified professional before making any financial decisions. We link to various third-party websites, affiliate sales networks, and to our advertising partners websites. When you view or click on certain links available on our articles, our partners may compensate us for displaying the content to you or make a purchase or fill a form. This will not incur any additional charges to you. To make things simpler for you to identity or distinguish advertised or sponsored articles or links, you may consider all articles or links hosted on our site as a commercial article placement. We will not be responsible for any loss you may suffer as a result of any omission or inaccuracy on the website. .

Top Stories

BBVA WORKS WITH AMAZON WEB SERVICES TO ACCELERATE THE BBVA GROUP’S TRANSFORMATION

BBVA WORKS WITH AMAZON WEB SERVICES TO ACCELERATE THE BBVA GROUP’S TRANSFORMATION

Madrid – BBVA today announced a global agreement with Amazon Web Services (AWS) that aims to accelerate BBVA’s global transformation through cloud computing. The agreement, which is part of a series of accords that the Group is forging with strategic providers, turns AWS into the preferred cloud infrastructure services provider for BBVA.

Today’s announcement is a new step in the bank’s transformation journey and calls for AWS to execute the migration of workloads to the AWS Cloud. BBVA has been working with AWS to build a secure, flexible and scalable cloud-based solution that will help meet the exponential growth in transactions that the digital age brings. BBVA platforms currently manage more than 542 million transactions a day, compared to 90 million in 2006. In 2017 they will be prepared to manage one billion transactions a day in real time, confirming BBVA’s swift response to changes in customers’ needs and expectations.

“The digital transformation of our business means that our technology platforms must be prepared to face an exponential transactions growth and cloud computing technologies have much to contribute in this direction,” said Ricardo Moreno, Global Head of BBVA Engineering. “Working with AWS and having them accompany us on this journey not just with their products but also with their expertise, will accelerate our transformation.”

For BBVA working with AWS and using their technology allows BBVA to use all the cloud’s potential while working closely with regulators and supervisors in order to comply with their requirements. The Group has been using AWS to run its analytics application for retailers Commerce 360 (currently available in Spain), and plans to keep expanding the use of the AWS.

With today’s agreement, BBVA is set to increase its collaboration with AWS in three areas in order to build next generation cloud banking technologies:

  • An expanded use of AWS cloud ecosystem, providing cloud infrastructure services so BBVA can migrate selected components of its platforms to the cloud.
  • Creation of a ‘Cloud Community’ to improve knowledge sharing and adherence to architectural and security policies and standards, ensuring regulatory compliance.
  • AWS will use feedback from BBVA to better adapt its offers to the banking sector.

“We are thrilled to be working with BBVA, one of the world’s leading innovators in the financial sector,” said Mike Clayville WW VP Commercial Sales at Amazon Web Services. “By using the AWS Cloud, financial organizations can drive innovation while maintaining high levels of security, compliance and data privacy. We are excited to continue helping BBVA on its transformation journey and supporting them to drive innovation for their end customers.”

Global Banking & Finance Review

 

Why waste money on news and opinions when you can access them for free?

Take advantage of our newsletter subscription and stay informed on the go!


By submitting this form, you are consenting to receive marketing emails from: Global Banking & Finance Review │ Banking │ Finance │ Technology. You can revoke your consent to receive emails at any time by using the SafeUnsubscribe® link, found at the bottom of every email. Emails are serviced by Constant Contact

Recent Post