Cisco and BBVA have Signed a Whole Portfolio Agreement (WPA)

• The agreement gives BBVA access to Cisco’s full software portfolio, world-class technology, and Customer Experience (CX) services, supporting the bank’s digitization journey. 

• Five-year agreement enables BBVA to integrate continuous innovation into daily operations, enhancing speed, and agility, and offering the latest in digital financial services.

Cisco and BBVA announced the companies have deepened their strategic alliance and signed a Strategic Whole Portfolio Agreement (WPA), providing BBVA faster access to Cisco’s comprehensive software and Customer Experience (CX) portfolio. BBVA is the first EMEA-based financial services institution to sign a WPA with Cisco in Europe and Latin America.

The five-year agreement includes solutions in cybersecurity, collaboration, data center, networking, and services. The agreement with BBVA spans operations across multiple countries. It includes proactive services provided by a specialized Cisco team and promotes collaborative innovation. Additionally, the deal simplifies management by consolidating 3,000 individual contracts into a single unified agreement. This streamlines BBVA’s global IT operations, significantly improving efficiency.

“BBVA’s alliance with Cisco is more than a supplier-customer relationship. After eight years of Strategic Partnership working together, BBVA premises and employees worldwide will have access to not only current but future Cisco technological developments,” says José Luis Elechiguerra, Global Head of Engineering at BBVA. “Additionally, the agreement allows BBVA to achieve significant efficiency and productivity gains,” adds Jordi García, Global Head of Strategy & Performance of Engineering at BBVA.

Read More about Fintech : What Are The Fintech Lending Benefits?

According to Oliver Tuszik, President of Cisco’s Europe, Middle East, and Africa region (EMEA), “We are proud to support the continued growth of one of the world’s leading financial institutions. For over a decade, BBVA has pioneered the digitization of banking in Spain and globally by putting customer experience at the center. During the next stage of our strategic partnership, together we will leverage the power of Cisco’s whole portfolio, including the latest AI-driven innovations, to accelerate their transformation.”  

Since 2016, BBVA and Cisco’s dedicated team have collaborated to create the bank of the future, leveraging technologies like collaboration, networking, data center and security. This strategic digital partnership, along with alliances with other leading tech companies, has accelerated BBVA’s transformation. As an early adopter of digitalization, BBVA is now at the forefront of financial services innovation.

 Latest Fintech Insights : How Does Fintech Makes Money?

 [To share your insights with us, please write to  pghosh@itechseries.com ]