BBVA, the most innovative bank in Europe according to "The Banker"

The British magazine The Banker, part of the Financial Times group, granted BBVA the award for "Best bank in Europe and the world for Innovation in Digital Banking" in 2020.
Among the main digital banking initiatives evaluated for the granting of this award are the fact that: it is the first bank that allows its corporate clients to measure their carbon footprint, that helps clients to make the best decisions for their financial well-being, and that has a bitcoin trading and custody service that was launched in Switzerland for private banking clients.

In conferring the award, The Banker emphasizes that BBVA is a bank at the forefront, in terms of innovation, in all the countries in which it operates, but especially in its territory of origin, Europe. “BBVA's digital transformation effort in recent years has paid off during the COVID-19 pandemic. Not only has it remained operational and continued to support its customers, but it has also maintained its pace of innovation."

BBVA's digital transformation effort in recent years has translated into a significant advantage within the context of the situation caused by the global COVID-19 pandemic. Thanks to its digital capabilities, the bank was able to remain operational and continue to support customers during the most difficult times of the pandemic, as well as implement an effective smart-working strategy throughout its organization, increasing digital sales and customer onboarding rates, and maintaining its innovative spirit.

“Despite the difficult circumstances, BBVA has continued to bet on innovation to help its clients face major challenges, such as being more sustainable or achieving financial well-being. In addition, this year, we have continued to build value propositions on blockchain technology with the launch of the first bitcoin custody service offered by a bank in the euro zone,” says David Puente, Global Head of Client Solutions at BBVA. The director received The Banker's award, considering it the recognition “of a strategy that dates back more than 10 years and that is increasingly present in innovative and distinctive services aimed at making the opportunities of the new era accessible to all."

The major, pioneering initiatives that led The Banker to award BBVA as the most innovative bank in digital banking in Europe were the following:

• Being the first bank in the world to allow its corporate clients to measure their carbon footprint, based on an advanced analysis of their financial data corresponding to their bank accounts with BBVA or any other bank.
• Renewing the package of financial management tools (PFM) integrated into its app, to provide clients with a global and integrated view of their financial situation, thereby helping them to better manage their finances.
• Being one of the first major banks to implement a commercial cryptocurrency service through its franchise in Switzerland, as it is the only country that currently regulates cryptoassets.