A strategic whole portfolio agreement (WPA) between Cisco and BBVA has been struck, strengthening their strategic relationship, and giving BBVA quicker access to Cisco’s extensive software and customer experience (CX) portfolio.

In Europe and Latin America, BBVA is the first financial services company headquartered in EMEA to sign a WPA with Cisco.

Solutions for cybersecurity, cooperation, data centres, networking, and services are included in the five-year contract. The arrangement with BBVA covers operations in several nations.

It encourages cooperative innovation and offers proactive assistance from a dedicated Cisco team.

The arrangement also streamlines management by combining 3,000 separate contracts into one cohesive one.

This simplifies BBVA’s global IT processes, resulting in increased efficiency.

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José Luis Elechiguerra, global head of engineering at BBVA stated: “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.”

“Additionally, the agreement allows BBVA to achieve significant efficiency and productivity gains,” added Jordi García, global head of strategy & performance of engineering at BBVA.

Oliver Tuszik, president of Cisco’s Europe, Middle East, and Africa region (EMEA) added: “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 digitisation 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.” 

Moreover, since 2016, the committed teams at BBVA and Cisco have worked together to develop the bank of the future by utilising technologies such as networking, security, data centers and communication.

BBVA’s development has advanced due to ties with other notable tech businesses and this vital digital partnership.