MADRID and NEW YORK, March 30,
2011 /PRNewswire/ -- Banco Bilbao Vizcaya Argentaria, S.A.
(NYSE: BBVA Madrid: BBVA) (BBVA) has selected Accenture's (NYSE:
ACN) Alnova Financial Solutions technology platform to help support
the aggressive technology transformation of its U.S. banking
franchise. The agreement with Accenture to deploy the new core
banking solution will position BBVA's U.S. banking subsidiary –
BBVA Compass – as one of the first major U.S. banks with real-time
processing capabilities, allowing immediate posting of deposits and
loan payments for increased efficiencies. The new core technology
platform will also improve product time-to-market allowing the bank
to quickly adapt to evolving customer preferences while at the same
time proactively addressing changing regulations.
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"In this new banking environment, having an efficient and highly
flexible technology system is critical to outperforming the
competition and meeting new regulatory requirements," said
Manolo Sanchez, BBVA U.S. Country
Manager and president and CEO of BBVA Compass. "By bringing this
powerful and flexible technology to the U.S., we can increase our
focus on the rapidly changing needs of our customers, provide them
with more personalized and innovative services, and increase the
efficiency with which we deliver our products and services to
market. This investment represents a significant milestone in the
implementation of the BBVA universal banking model in the U.S. and
embodies our belief that technology will play an important role in
creating a more transparent and efficient banking system."
Accenture's Alnova Financial Solutions, which BBVA currently
uses in nine other countries, will support BBVA Compass' operations
across Texas, New Mexico, Florida, Colorado, California, Arizona and Alabama. It is designed to improve the bank's
cross-selling and customer retention, increase efficiencies and
further align the bank's global operations by integrating its U.S.
banking network into a common IT platform. The solution will
deliver real-time bank processing capabilities and support
increased transaction volumes for BBVA Compass while streamlining
and enhancing the bank's risk management functions.
"The U.S. banking market requires strong service differentiation
and the capacity to quickly and efficiently adapt to changing
customer demands," said Juan Pedro
Moreno, managing director of Accenture Core Banking
Services. "By expanding the Alnova core banking strategy into the
U.S. market, BBVA Compass is set to raise the bar on American bank
customer service and operating efficiencies. We are pleased to
support them in this strategy."
Core banking systems are sophisticated technology applications
that support banks' primary services – from deposit gathering,
lending and mortgages to checking, savings, ATM and credit card
services and online and mobile banking. They also support a wide
range of regulatory reporting and compliance functions for
banks.
"BBVA has long recognized the importance of a truly
customer-centric business model and understands the key role
technology plays," said Colin
Davies, managing director, Accenture Software. "Alnova will
help BBVA offer its customers a seamless banking experience and
help BBVA quickly and efficiently adapt to the changing
requirements of the market, including regulatory requirements."
"BBVA has chosen a system it knows well from its many global
deployments," said Bart Narter,
senior vice president, Celent. "Alnova brings true real time
transactions, a product-factory, and a modern architecture with a
level of flexibility that simply can't be offered through parameter
setting. Accenture offers deep knowledge of the U.S. banking
industry and experience in large U.S. core banking migrations.
Accenture's experience will serve BBVA well as it goes through the
complex process of a migration".
Accenture Core Banking Services, a business service within
Accenture's Financial Services operating group, has helped design
and implement core banking systems for more than 200 institutions
worldwide. Alnova Financial Solutions, part of Accenture Software,
Accenture's dedicated software business, is a leading core banking
solution with more than 100 clients in more than 20 countries,
including many of the world's largest and most successful financial
institutions.
Recognized for its breadth of functionality, the Alnova solution
supports real-time processing, integrated channel delivery and
customer relationship management. Accenture's agreement with BBVA
Compass marks the debut of Alnova in the North American banking
market. Since 2005, Accenture has helped most of the top 25 banks
in North America implement core
banking and lending solutions.
About BBVA
BBVA is a global financial services group with approximately
euro 550 billion in total assets, 47
million clients, 7,400 branches and 107,000 employees in more than
30 countries. BBVA provides its customers with a full range of
innovative financial products and services. The BBVA Group
maintains a leadership position in Spain, Mexico, Latin
America and the Sunbelt Region of the United States. BBVA is also developing
strong operations in Asia,
specifically in China, and
recently entered the Turkish market with a strategic stake in
Turkiye Garanti Bankasi, the leading bank in Turkey.
As of December 2010, BBVA had a
market capitalization of euro 34
billion and is listed on the primary international stock
exchanges including London, NYSE
and Madrid. BBVA reported
recurrent attributable profit of euro 4.6
billion in 2010 and ranks among the leading Euro zone banks
in terms of ROE and efficiency.
About BBVA Compass
BBVA Compass is a Sunbelt-based financial institution that
operates more than 716 branches including 380 in Texas, 93 in Alabama, 65 in California, 77 in Arizona, 45 in Florida, 36 in Colorado and 20 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 (3rd), Texas (4th) and Arizona (5th). BBVA Compass has been
recognized as one of the nation's leading Small Business
Administration (SBA) lenders, earning 'Lender of the Year' honors
in 2009 and 2010. Additional information concerning BBVA Compass
can be found on our website www.bbvacompass.com.
About Accenture
Accenture is a global management consulting, technology services
and outsourcing company, with approximately 211,000 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$21.6
billion for the fiscal year ended Aug. 31, 2010. Its home page is
www.accenture.com.
Accenture Software combines deep technology acumen with industry
knowledge to develop differentiated software products. It offers
innovative software-based solutions to enable organizations to meet
their business goals and achieve high performance. Its home page is
www.accenture.com/software.
Editor's Note:
BBVA Compass is a trade name of Compass Bank. Compass Bank,
member FDIC.
SOURCE BBVA & BBVA Compass