As part of its transformation into a data- and AI-driven organisation, BBVA is set to leverage AWS to harness analytics and machine learning to change its internal processes, better risk management, drive growth and provide customers with innovative solutions.
Per the announcement, BBVA is set to use an extensive portfolio of AWS analytics and AI services across its operations and create a new data platform that will be deployed worldwide, providing a secure repository of BBVA’s operations and customer data. The platform will offer internal business stakeholders automated business and market insights, bettering operational efficiencies and attracting new customers.
AWS Lake Formation and Amazon DataZone are to be instrumental in building, managing, and securing access to the data platform, helping ensure data governance and compliance while enabling collaboration and information sharing across key business areas. Through a combination of data lakes and data warehouses, the platform will offer business units at BBVA a unified view of their data, together with access to increasingly efficient data processing, analysis, and insights.
Amazon SageMaker will enable over 1,000 data scientists at the BBVA AI Factory, BBVA’s global development centre that builds AI capabilities, and other data-specialised units to build, train, and deploy machine learning models for any use case, and to analyse data more efficiently. Additionally, the platform will provide scalability, flexibility, and efficiency in managing extensive data amounts for over 2,800 data engineers and architects.
BBVA will be enabled access to AWS’ generative AI capabilities and large language models (LLMs), including Amazon Bedrock, a fully managed service making foundational models available via an API, to explore advanced technologies’ potential and help create innovative financial solutions.
Commenting on the announcement, Ricardo Oliver, global head of Data Engineering at BBVA advised that the collaboration with AWS and construction of the new data platform marks a significant milestone for BBVA. Per their statement, by leveraging AWS for its data strategy, BBVA is bettering its data management capabilities, making data available for everyone, and using AWS analytical capabilities to increase the impact of its data projects. The spokesperson believes the strategic partnership to be in alignment with its goal of becoming a true data- and AI-driven digital organisation.
Scott Mullins, managing director of Worldwide Financial Services at AWS added that by working with AWS, BBVA can leverage an increasingly secure cloud computing environment to place data at the centre of each application and process. The company official advised that financial institutions worldwide rely on AWS to change into data-driven companies that make business decisions faster and operate with increased confidence, and BBVA is enabled to harness its data to remain at the forefront of banking innovation, boosting its business insights, and developing increasingly compelling and personalised services in a quick and cost-effective manner.
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