BBVA expands partnership with Cisco

As per the information detailed in the press release, BBVA signed a Strategic Whole Portfolio Agreement with Cisco, with the move providing the bank with access to the latter’s full software portfolio, technology, and Customer Experience (CX) services. As a customer-centric global financial services group, BBVA’s suite of services includes retail banking, private banking, asset management, wholesale banking, and other related financial solutions. Since 2016, BBVA and Cisco have worked together to accelerate the digital transformation of the bank by leveraging several technologies.

The current announcement is set to further support the bank’s digitisation strategy, with the five-year agreement allowing BBVA to integrate continuous improvements into daily operations, leading to enhanced speed, and agility, and offering modern digital financial services.

As part of their extended collaboration, BBVA receives accelerated access to Cisco’s comprehensive software and CX portfolio, with the bank being one of the first EMEA-based financial services institutions to sign a WPA with Cisco in Europe and Latin America. The agreement includes solutions covering cybersecurity, collaboration, data centre, networking, and services, while also spanning operations across multiple countries. Additionally, it integrates proactive services offered by a specialised Cisco team and promotes collaborative advancement. The deal is also set to simplify management by consolidating 3,000 individual contracts into a single unified agreement, thus streamlining BBVA’s global IT operations and improving efficiency.

According to BBVA’s officials, the partnership with Cisco allows the bank’s premises and employees globally to have access to current and future technological developments, with the agreement enabling BBVA to achieve increased efficiency and productivity. Representatives from Cisco underlined that considering BBVA’s position as a supporter of the digitisation of banking in Spain and worldwide, during the next stage of their strategic collaboration, the company aims to provide the bank with its entire portfolio, including AI-driven capabilities, to accelerate its transformation.

With its operations based in the US, Cisco develops, manufactures, and sells networking hardware, software, telecommunications, equipment, and other technological services and products. The company specialises in specific tech markets, including the Internet of Things (IoT), domain security, videoconferencing, and energy management with products such as Webex, OpenDNS, Jabber, Duo Security, and Jasper. In addition to the expansion of its collaboration with BBVA, Cisco also recently launched Motific, the company’s first SaaS product that enables generative AI (GenAI) deployments in organisations.

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