Digital Transformation Consulting

BBVA faced significant challenges in transforming itself into a customer-centric bank while maintaining its historical legacy. The bank recognized the need to modernize its operations and enhance customer engagement through digital technology. To address these challenges, BBVA partnered with Accenture to develop a comprehensive digital sales model that would streamline customer interactions and improve efficiency.

The tailored solution involved leveraging advanced technologies such as cloud computing, data analytics, and artificial intelligence. This approach enabled BBVA to create a seamless onboarding process that reduced the time taken to open an account from several days to just minutes. The use of AI-based facial recognition and text analytics allowed for real-time verification of account applicants, significantly enhancing security and reducing fraud.

As a result of these initiatives, BBVA achieved remarkable outcomes. In 2023, the bank welcomed 11.1 million new customers, with 65% acquired through digital channels. The digital sales model contributed to a 100% growth in digital sales over four years, and nearly 50 million customers now engage with the bank digitally. Additionally, BBVA reported a profit of €8.02 billion in 2023, marking the highest earnings in its history. The bank's cost-to-income ratio improved to 41.7%, one of the best among European banks, demonstrating the effectiveness of its reinvention strategy. In Italy, BBVA's full digital value proposition attracted 130,000 new customers in its first year, a number that has since grown to over 450,000, showcasing the successful expansion of its digital footprint.