BBVA Compass named 'Model Bank of the Year' by Celent
BBVA Compass wins 2012 Celent Model Bank Award
BIRMINGHAM, Ala., Feb. 28, 2013
BIRMINGHAM, Ala., Feb. 28, 2013 /PRNewswire/ --BBVA Compass won the Celent
Model Bank award on Wednesday for its core banking transformation, lauded in
the business press as a "game changer" when it debuted last fall.
The bank's technology upgrade marks one of the first successful core
infrastructure replacements for a major U.S. bank in more than a decade.
Celent honored the achievement with its award, which recognizes the use of
technology that has a clear and sustainable impact on business, improves
sales, reduces risk, improves processes and performance, or meets market
demands. Previous award winners include Citibank, Wells Fargo, JPMorgan Chase,
and Umpqua Bank.
"The implementation of our new core system was a huge milestone for us," said
Manolo Sanchez, BBVA Compass president and CEO. "By introducing this powerful
and flexible technology, we're able to increase our focus on the rapidly
changing needs of our customers and provide them with more personalized and
The new system powers BBVA Compass' checking and savings, consumer and
business lending, and mortgage capabilities – and is fully integrated with its
branch and ATM networks, call centers and online and mobile banking services.
The $362 million project cut the time it takes to open a new deposit account
to as little as five minutes from more than 40, and reduced time to market for
new products by up to 75 percent.
The system also allows the bank to support its first wholly digital banking
product: NBA Banking, which launched this month and is maintained entirely
online. It allows BBVA Compass to expand beyond its Sunbelt footprint and
capitalize on its role as the official bank of the NBA in the U.S.
The new core platform is now being used in the bank's more than 700 branches
in seven states. The system is based upon Alnova Financial Solutions,
Accenture's core banking software platform. Accenture also helped BBVA Compass
implement the platform.
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 708
branches, including 367 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: Lori Moore, Corporate Communications, +1-713-831-5623,
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