BBVA, Accenture Roll Out Major Banking Technology Upgrade in United States
BBVA Compass debuts real-time processing in U.S., boosting efficiency and
giving a new level of banking transparency and simplicity to customers
MADRID and NEW YORK, Nov. 27, 2012
MADRID and NEW YORK, Nov. 27, 2012 /PRNewswire/ -- BBVA and Accenture
announced on Tuesday a landmark technology systems upgrade at BBVA Compass,
giving the Spanish bank's U.S. subsidiary one of the first real-time
processing systems in the U.S. banking industry.
The $362 million project replaces the bank's core technology infrastructure
for all of the bank's 716 branches in seven states across its Sunbelt
footprint. It cuts the time it takes to open a new deposit account to as
little as five minutes from more than 40, and reduces time to market for new
products by up to 75 percent.
"The core platform makes BBVA Compass significantly more competitive," said
Manolo Sanchez, BBVA Compass chief executive and BBVA country manager. "We're
more efficient, but equally important, we can offer a virtually unmatched
level of transparency and simplicity to our customers giving us a unique
position among U.S. banks."
Accenture provided its Alnova Financial Solutions™ software to BBVA Compass
and helped the bank implement the new system.
"Technology transformations of this kind can have a major impact on the market
position of banks –particularly in the U.S. where aging systems are
prevalent," said Juan Pedro Moreno, global managing director of banking at
Accenture. "Again and again around the world, BBVA has shown a unique
client-centric focus and command of operational excellence and technology
The project marks one of the first successful core banking infrastructure
replacements for a major U.S. bank in more than a decade. The new system
powers BBVA Compass' checking and savings deposit platform and will soon
provide the engine for its consumer and business lending, including mortgage,
capabilities. The new infrastructure also will be fully integrated with BBVA
Compass' branch and ATM networks, call centers and online and mobile banking
"Our core system transforms the banking experience for our customers and for
our employees," said Sergio Fidalgo, BBVA Compass chief information officer.
"Our customers save time, and our branch employees have more time to spend
meeting their clients' needs. In short, the Alnova technology allows for more
By centralizing all of the bank's customer account information onto a single
platform, BBVA Compass employees can provide faster, more comprehensive
service to its customers. The new system will provide the bank's customers
with the same information available to the bank through all points of access:
branches, online, phone, ATM or mobile device. That transparency is expected
to provide customers more timely information about their accounts, which
offers greater control over their finances.
The system allows BBVA Compass to post many customer transactions in
real-time, which significantly lowers back-office processing costs. Real-time
processing is a capability generally unavailable among U.S. banks.
"By eliminating most of the coding needed to develop new products, we have
also vastly reduced our time to market," said Fidalgo. "When we do custom
development work, Alnova allows us to leverage that work on future
developments as well."
BBVA Compass was supported by Accenture Core Banking Services, which has
helped design and implement core banking systems for more than 200
institutions globally. Its Alnova software platform is an award-winning core
banking solution, with more than 100 clients in more than 20 countries. BBVA
uses Alnova in nine other countries.
Accenture is a global management consulting, technology services and
outsourcing company, with 257,000 people serving clients in more than 120
countries. Combining unparalleled experience, comprehensive capabilities
across all industries and business functions, and extensive research on the
world's most successful companies, Accenture collaborates with clients to help
them become high-performance businesses and governments. The company
generated net revenues of US$27.9 billion for the fiscal year ended Aug. 31,
2012. Its home page is www.accenture.com.
About BBVA Group
BBVA Compass is a subsidiary of BBVA Compass Bancshares Inc., a wholly owned
subsidiary of BBVA (NYSE: BBVA) (MAD: BBVA). BBVA is a customer-centric global
financial services group founded in 1857. The Group has a solid position in
Spain, is the largest financial institution in Mexico, and has leading
franchises in South America and the Sunbelt region of the United States. Its
diversified business is geared toward high-growth markets and relies on
technology as a key sustainable competitive advantage. BBVA ranks among the
leading eurozone banks in terms of return on equity and efficiency. Corporate
responsibility is at the core of its business model. BBVA fosters financial
education and inclusion, and supports scientific research and culture. It
operates with the highest integrity, a long-term vision and applies best
practices. More information about the BBVA Group can be found at www.bbva.com.
About BBVA Compass
BBVA Compass is a Sunbelt-based financial institution that operates 709
branches, including 368 in Texas, 93 in Alabama, 79 in Arizona, 65 in
California, 45 in Florida, 38 in Colorado and 21 in New Mexico. BBVA Compass
ranks among the top 20 largest U.S. commercial banks based on deposit market
share and ranks among the largest banks in Alabama (2nd), Texas (4th) and
Arizona (5th). BBVA Compass has been recognized as one of the leading Small
Business Administration lenders and ranked third in American Banker's 2012
reputation study of the leading 30 banks in the U.S. Additional information
about BBVA Compass can be found at www.bbvacompass.com.
BBVA Compass is a trade name of Compass Bank.
SOURCE BBVA Compass
Contact: Thaddeus Herrick, Corporate Communications, +1-713-831-5609,
email@example.com, or Lori Moore, Corporate Communications,
+1-713-831-5623, Cell +1-205-617-5260, firstname.lastname@example.org
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