BBVA Compass is focused on leading the transformation of the banking industry by being a pioneer in the evolving digital landscape and spurring innovation from within and without.
The future of banking is here, where technological developments - big data, blockchain, biometrics, artificial intelligence - and disruptors seeking to take pieces of traditional bankings’ value chain are playing increasingly large roles. And just as banks are facing these new competitors, they're also trying to keep up with the demand for a new type of banking, specifically among millennials, by updating their technology platforms and their workforces for the 21st century.
BBVA and BBVA Compass are at the fore of the banking industry’s transformation, developing new businesses to help meet the demands of today’s consumers, adopting new ways of working, opening digital platforms and establishing key relationships with innovative players.
In late 2012, BBVA Compass debuted its new core technology platform. The more than $360 million project made the bank one of the first financial institutions in the U.S. to implement real-time processing and also allowed BBVA Compass to become the first major bank to open its platform to digital innovators such as Simple.
When Celent, a financial technology analyst firm, recognized BBVA Compass as its Model Bank of the Year in 2013, it noted the core system as the largest U.S. bank transformation in the ten years leading up to the technology milestone.
Beyond the new core technology platform, the bank continued its foundational efforts around digital, choosing to build the code in-house for its mobile and online banking platforms so that it could have complete say over these all-important services. That allowed BBVA Compass to plot its own course in design and functionality, and respond to evolving customer needs quickly. The benefits have been clear, with the mobile banking app winning multiple awards from Money magazine, Global Finance and Javelin Strategy & Research, the latter naming it the best app for functionality three years in a row. BBVA Compass Online Banking has seen similar success as last year it received top nods for Financial Management and Money Movement capabilities in Javelin Strategy & Research’s inaugural Online Banking Scorecard.
At the @BBVA Creation Center in #Dallas, employees create solutions that minimize technological roadblocks and maximize the #userexperience.
