Digital Transformation Consulting

BBVA faced significant challenges in transforming its traditional banking model to meet the demands of modern customers. The bank, with a long history dating back to 1857, needed to adapt to a rapidly changing digital landscape while maintaining its legacy. To address these niche issues, BBVA partnered with Accenture to develop a comprehensive digital sales model that leveraged advanced technologies such as cloud computing, data analytics, and artificial intelligence.

The tailored solution involved a complete overhaul of BBVA's customer onboarding process, which was streamlined to take just minutes compared to the days it typically took at other banks. This was achieved through the implementation of AI-based facial recognition and text analytics, allowing for real-time verification of account applicants via a mobile app. Additionally, BBVA utilized a new global data platform powered by Amazon Web Services, which provided a unified view of customer data across all business units, enhancing data processing and insights.

The results of this transformation were remarkable. In 2023, BBVA acquired 11.1 million new customers, with 65% of these through digital channels. The bank experienced a 100% growth in digital sales over the past four years and achieved a profit of €8.02 billion, marking the highest earnings in its history. The new digital sales model not only improved customer acquisition but also enhanced operational efficiency, reflected in a cost-to-income ratio of 41.7%, one of the best among European banks. In Italy, for instance, BBVA's digital value proposition attracted 130,000 new customers in its first year, a number that has since grown to over 450,000. This strategic reinvention has positioned BBVA as a leader in customer-centric banking, enabling continuous innovation and value creation for its customers.