Spanish financial services company Banco Bilbao Vizcaya Argentaria (BBVA) has selected Amazon Web Services (AWS) to deliver advanced analytics and data services in the cloud and develop a new data platform.
As part of its transition into a data and artificial intelligence (AI)-driven organisation, BBVA will leverage AWS for analytics and machine learning to transform its internal processes, enhance risk management, drive growth, and offer innovative solutions for its clients.
The company’s new platform, which will be deployed worldwide, is expected to deliver a secure repository of BBVA’s operations and customer data.
Besides, the data platform aims to offer automated business and market insights to internal business stakeholders to power operational efficiencies and attract new customers.
BBVA stated that the data platform will combine AWS Lake Formation and Amazon DataZone to provide business units at the company with a unified view of their data and access for better data processing, analysis, and insights.
Furthermore, the platform seeks to offer enhanced scalability, flexibility, and efficiency in managing vast amounts of data for over 2,800 data engineers and architects.
AWS worldwide financial services managing director Scott Mullins said: “Working with AWS, BBVA can use the most secure cloud computing environment to put data at the centre of every application and process.
“Financial institutions around the world rely on AWS to transform into data-driven companies that make business decisions faster and operate with greater confidence.”
Amazon SageMaker, a cloud machine-learning platform, will allow over 1,000 data scientists at the BBVA AI Factory and other data-specialised units to develop, train, and implement machine-learning models for any use case and to analyse data effectively, said BBVA.
Through the engagement with AWS, BBVA expects to get access to the former’s generative AI capabilities and large language models, including Amazon Bedrock to examine the possibilities of advanced technologies and to develop new financial solutions.
BBVA data engineering global head Ricardo Oliver said: “This collaboration with AWS and the construction of our new data platform represent a significant milestone for BBVA.
“By embracing the power of AWS for our data strategy, we are improving our data management capabilities, making data available for everyone and leveraging AWS analytical capabilities to boost the impact of our data projects.”
