BBVA buys UX firm Spring Studio

BBVA buys UX firm Spring Studio

BBVA had bought San Francisco-based user-experience and design outfit Spring Studio as it continues to aggressively pursue its stated aim of becoming the "best digital bank of the 21st century".

The deal - financial terms of which have not been disclosed - will see Spring Studio continue to operate as an independent company, although it will now focus on BBVA projects in the US and South America.

Sanjay Shamdasani, who co-founded Spring Studio in 2001, will continue to lead his 38-employee team as principal UX strategist.

Last month BBVA chairman Fransisco Gonzalez outlined his determination to build "the best digital bank of the 21st century," promising to keep ahead of the technological revolution that is seeing new entrants shake up the market.

Unusually for a bank, BBVA has been busy making fintech acquisitions to help it achieve this aim, setting a venture fund and hoovering up neo-bank Simple and big data outfit Madiva.

The Spring Studio acquisition brings in expertise in another area - user experience design - that banks are fast realising is of critical importance in a world where customers access services through smartphones, computers and tablets. Last year Capital One made a similar play, buying its own San Francisco design outfit, Adaptive Path.

Carlos Torres Vila, head, digital banking, BBVA, says: "The importance of user experience and design is growing exponentially in banking and with Spring Studio we can move into fast-forward mode with our design ambitions."

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