19 September 2017
visit www.avoka.com

BBVA board alights in San Francisco

02 December 2016  |  6076 views  |  0 Francisco Gonzalez, BBVA chairman

Reinforcing its commitment to digital transformation, Spain's BBVA is holding a four-day board meeting in San Francisco, connecting with staff, startups and academics as it charts a path for banking in the 21st century.

The Spanish bank opened its office in San Francisco in 2011 with just two staffers. Now 90 people are employed at the hub, which helps guide the executive committee on the latest innovations in technology.

BBVA chairman Francisco Gonzalez says the bank has rolled out 230 new technology initiatives over the past year as part of a group-wide digital programme which is dubbed "the revolution of small things".

"The response from customers has been spectacular, both in terms of growth and in use of channels," he says. "We have 17.2 million digital customers - 20% more than a year ago - 11 million of them use their smartphones for their transactions, an increase of 41%. In the U.S., 19.5% of sales take place on digital channels, compared to 9.3% in 2015. In Spain, this percentage has reached 16.5%, in Mexico it’s 15.4%, 15% in South America and 25.2% in Turkey."

BBVA has shown an aggressive streak in the M&A space, investing in a host of neo-banking startups, including Holvi in Finland, the UK's Atom Bank, and Simple, as well as firms operating on the cutting edge of user experience design and big data, such as Spring Studios and Madiva.

Gonzalez says acquisitions will continue to play a role in its future strategy. "At the end of the day, those investments are options that provide us with knowledge and experience, and we also help those companies," he says. "Change is accelerating everywhere and we gain more knowledge as time goes by, so of course we will continue to be very active in the startup world. Not only with fintechs, but also with companies that can cater to our customers’ needs."

Comments: (0)

Comment on this story (membership required)

Finextra news in your inbox

For Finextra's free daily newsletter, breaking news flashes and weekly jobs board: sign up now

Related stories

BBVA rolls out mobile onboarding; signs Salesforce deal

BBVA rolls out mobile onboarding; signs Salesforce deal

04 November 2016  |  9881 views  |  0 comments | 15 tweets | 29 linkedin
BBVA travels deeper into the cloud

BBVA travels deeper into the cloud

21 October 2016  |  10247 views  |  0 comments | 13 tweets | 16 linkedin
BBVA creates user-experience centre in Dallas

BBVA creates user-experience centre in Dallas

28 September 2016  |  7000 views  |  0 comments | 8 tweets | 12 linkedin
Propel invests in bitcoin-based browser platform Brave Software

Propel invests in bitcoin-based browser platform Brave Software

02 August 2016  |  6053 views  |  0 comments | 6 tweets | 3 linkedin
BBVA in management reshuffle for digital banking push

BBVA in management reshuffle for digital banking push

28 July 2016  |  11465 views  |  0 comments | 15 tweets | 13 linkedin
BBVA explains scrum culture initiative

BBVA explains scrum culture initiative

01 July 2016  |  14602 views  |  0 comments | 18 tweets | 30 linkedin
BBVA bets on the cloud for digital transformation

BBVA bets on the cloud for digital transformation

25 May 2016  |  8325 views  |  0 comments | 14 tweets | 16 linkedin
BBVA acquires hot Finnish startup Holvi

BBVA acquires hot Finnish startup Holvi

07 March 2016  |  16183 views  |  0 comments | 32 tweets | 31 linkedin
Former Simple exec joins BBVA as head of Open API

Former Simple exec joins BBVA as head of Open API

24 February 2016  |  8087 views  |  0 comments | 16 tweets | 8 linkedin
BBVA increases newly independent fintech venture fund to $250m

BBVA increases newly independent fintech venture fund to $250m

11 February 2016  |  13289 views  |  1 comments | 19 tweets | 13 linkedin
Digital transformation driving earnings at BBVA

Digital transformation driving earnings at BBVA

03 February 2016  |  19050 views  |  0 comments | 50 tweets | 46 linkedin
BBVA gets agile as scrum teams tear up the bank IT rule book

BBVA gets agile as scrum teams tear up the bank IT rule book

21 January 2016  |  15229 views  |  0 comments | 33 tweets | 38 linkedin
BBVA hires Barclays digital chief Derek White

BBVA hires Barclays digital chief Derek White

11 January 2016  |  14141 views  |  0 comments | 26 tweets | 16 linkedin
BBVA buys 29.5% stake in Atom for £45 million

BBVA buys 29.5% stake in Atom for £45 million

24 November 2015  |  13796 views  |  1 comments | 34 tweets | 42 linkedin
BBVA launches Wallet app in Turkey as downloads pass the one million mark

BBVA launches Wallet app in Turkey as downloads pass the one million mark

12 November 2015  |  9669 views  |  1 comments | 23 tweets | 13 linkedin
Banks need to develop new core competencies to survive - BBVA COO

Banks need to develop new core competencies to survive - BBVA COO

23 October 2015  |  10999 views  |  0 comments | 27 tweets | 18 linkedin
BBVA rolls out 'remote control' card app

BBVA rolls out 'remote control' card app

27 May 2015  |  10534 views  |  0 comments | 27 tweets | 27 linkedin
BBVA restructures to achieve 'digital transformation'

BBVA restructures to achieve 'digital transformation'

05 May 2015  |  14277 views  |  1 comments | 35 tweets | 24 linkedin
BBVA buys UX firm Spring Studio

BBVA buys UX firm Spring Studio

16 April 2015  |  15988 views  |  0 comments | 39 tweets | 18 linkedin
BBVA: "We are building the best digital bank of the 21st Century"

BBVA: "We are building the best digital bank of the 21st Century"

16 March 2015  |  18159 views  |  2 comments | 24 tweets | 28 linkedin
In the future, BBVA will be a software company - Francisco Gonzalez

In the future, BBVA will be a software company - Francisco Gonzalez

05 March 2015  |  40323 views  |  7 comments | 74 tweets | 64 linkedin
Half of the world's banks set to fall by the digital wayside - BBVA

Half of the world's banks set to fall by the digital wayside - BBVA

04 February 2015  |  45603 views  |  5 comments | 121 tweets | 92 linkedin
BBVA acquires big data startup Madiva

BBVA acquires big data startup Madiva

10 December 2014  |  14759 views  |  1 comments | 25 tweets | 9 linkedin
BBVA Ventures invests in supply chain finance firm Taulia

BBVA Ventures invests in supply chain finance firm Taulia

26 September 2014  |  7134 views  |  0 comments | 4 tweets | 3 linkedin

Related company news

 

Related blogs

Create a blog about this story (membership required)
visit www.temenos.comvisit www.sibos.comvisit www.capgemini.com

Top topics

Most viewed Most shared
JPMorgan Chase chief says he would fire traders dealing in bitcoin for stupidityJPMorgan Chase chief says he would fire tr...
10505 views comments | 16 tweets | 29 linkedin
Equifax hack: Visa and Mastercard flag 200k compromised credit cardsEquifax hack: Visa and Mastercard flag 200...
9923 views comments | 6 tweets | 17 linkedin
Dutch bank sentences teenage DDoS culprit to community serviceDutch bank sentences teenage DDoS culprit...
8896 views comments | 6 tweets | 3 linkedin
HSBC switches on selfie payments in ChinaHSBC switches on selfie payments in China
8819 views comments | 19 tweets | 39 linkedin
ING moves into digital wealth management with Scalable CapitalING moves into digital wealth management w...
7360 views comments | 14 tweets | 15 linkedin

Featured job

A minimum of £200K (not a limiting factor)
London

Find your next job