Spain's Banco Bilbao Vizcaya Argentaria (BBVA) has established a digital banking unit in a bid to boost the development of its various technology-led businesses.
The new business area is charged with leading the bank's digital transformation around the world, running its multi-channel strategy and the design of operational and commercial processes.
It will also work on developing new business lines, overseeing internal developments such as the Wizzo app as well as the bank's startup investments made through its $100 million venture fund and Simple, the US firm it bought for $117 million last month.
The unit will be led by Carlos Torres Vila, who joined BBVA in 2008 as head of strategy and corporate development. He will report to COO Angel Cano.
Says Cano: "Customers are changing the way they relate to their banks and BBVA is anticipating this change. The new structure will allow us to respond better to today's customers and to those of tomorrow."
Jaime Saenz de Tejada will move to the strategy and finance unit where he will also take on the responsibilities of CFO Carlos Torres Vila who is becoming an advisor to the chairman's office.
Meanwhile, BBVA is also setting up a new division that includes South America and the global retail business lines, which will be led by Ignacio Deschamps.