BBVA’s ADA Platform: A Revolutionary Leap in Banking Technology
A Pioneering Milestone in Digital Transformation
The ADA platform, which stands for Analytics + Data + AI, is named in honor of the brilliant consumer scientist Ada Lovelace. This groundbreaking initiative marks a significant step forward in BBVA’s journey of digital transformation. The ADA platform consolidates the bank’s data management systems into a single global infrastructure, heralding a new era of efficiency and scalability that is leading the way in the financial services sector. For its forward-thinking approach, BBVA’s innovation was recognized with Global Finance’s ‘The Innovators’ award.
Elevating Data Management to New Heights
Thanks to the advent of the ADA platform, BBVA now manages an astounding four petabytes of data and 40,000 databases daily. This remarkable capacity vastly improves the accessibility, agility, and security of information management across the organization. Cloud technology has transformed the landscape; notably, the time required for end-users to access analytical work environments on the platform has decreased by an impressive 94 percent. Furthermore, ADA empowers the bank to dynamically scale resources, adapting effortlessly to fluctuating demand—a boon for cost optimization and performance enhancement.
The Transition to a Global Cloud Data Platform
In 2023, BBVA made a strategic decision to partner with Amazon Web Services (AWS) to expedite its transition to a data-driven paradigm. Fast-forward a year later, and the bank’s global cloud data platform has officially materialized. This complex initiative required the migration of tens of thousands of processes and thousands of users—all accomplished without service interruptions. Having achieved this success in Europe and Uruguay, BBVA is set for expansion. By 2025, ADA will be rolled out to additional markets, including Mexico, Colombia, Peru, and Argentina.
Completing the Migration Journey
By 2024, BBVA accomplished the migration of critical data from Spain, Uruguay, corporate banking, and central services. This intricate process did not result in any service interruptions, ensuring a seamless transition for users. The bank aims to finalize its data integration efforts in Latin America by 2025, ensuring a cohesive approach across all operations.
A Commitment to Advanced Technology
“This recognition underscores BBVA’s strategic commitment to a global data platform on a public cloud powered by AWS technology,” stated Federico Esteban, the Global Head of Data Architecture at BBVA. He emphasized how ADA enables the bank to effectively process both structured and unstructured data while supporting real-time artificial intelligence capabilities. This evolution reinforces the bank’s ability to innovate and respond swiftly to business demands in a fast-paced digital landscape.
Innovation Meets Empathy in Debt Management
BBVA Mexico was also acknowledged by Global Finance for its innovative use of behavioral economics in handling credit card delinquencies. Understanding that customers perceive debt as a source of stress and loss of control, BBVA’s Behavioral Economics unit developed a negotiation guide for its agents. This guide is based on behavioral principles aimed at providing empathetic phone conversations regarding debt repayment.
Prioritizing Emotional Needs
By prioritizing customers’ emotional needs, BBVA endeavors to help individuals regain control over their finances while minimizing emotional distress. The bank intervenes early in the delinquency process to prevent debts from spiraling out of control. As a result, BBVA has experienced significant increases in the recovery of delinquent debts.
Changing the Conversation Around Debt
“Identifying and addressing behavioral elements that contribute to negative customer experiences is vital,” commented Nuria Pesquera, Global Head of Behavioral Economics at BBVA. By reframing discussions around payments to emphasize relief, the bank effectively improves recovery rates, ensuring that customers feel understood and supported. This initiative began as a pilot in one country but has since expanded to other channels and regions.
The AI Factory: A Hub of Innovation
BBVA’s AI Factory, the bank’s dedicated artificial intelligence hub, has also gained recognition for its excellence in innovation. For the third consecutive year, Global Finance named AI Factory one of the leading innovation labs in the financial industry. As the only Spanish bank to feature on this esteemed list, BBVA is at the forefront of addressing pressing challenges with cutting-edge technology.
Transforming Financial Services with AI
Recognized for its contributions to the financial sector, BBVA’s AI Factory continues to push the envelope with AI-based solutions. Established in 2019, the lab conducts extensive research on global AI trends, creating analytical components that enhance products and services, including features within the BBVA app for financial health and personalized product recommendations.
Expansion of AI Solutions
In 2024, the AI Factory plans to expand its reach to Mexico and Turkey, regions with a substantial customer base. This expansion aims to implement AI-driven data products globally while enhancing internal processes within the bank.
Building a Team of Innovators
With a robust workforce of over 400 professionals, the AI Factory is home to data scientists, machine learning engineers, and digital product experts dedicated to revolutionary changes in banking. This talent pool plays a crucial role in the development of innovative solutions that improve customer experience and operational efficiency.
Streamlining Development with Code Reuse
One of the key principles guiding the AI Factory’s operations is code reuse. By repurposing existing code, the bank can significantly reduce product development times and accelerate delivery, enhancing user experiences across all markets.
Sharing Innovation with the Community
The AI Factory’s analytical components are stored in the Mercury library, a portion of which is open-source and available on GitHub. This initiative encourages collaboration and innovation within the fintech community, demonstrating BBVA’s commitment to driving progress in the industry.
Integrating Innovation into Daily Banking
“Financial innovation labs are essential in bridging the gap between theoretical concepts and real-world applications in today’s digital landscape,” affirmed Joseph Giarraputo, Publisher and Editorial Director at Global Finance.
Conclusion: BBVA’s Vision for the Future
BBVA’s ADA platform and AI Factory symbolize a transformative era for the bank, showcasing its commitment to integrating innovative technology in finance. By harnessing the power of data, AI, and behavioral economics, BBVA stands poised to revolutionize banking for its clients, paving the way for a more connected, efficient, and empathetic financial future. As BBVA continues to expand its digital footprint, it sets a compelling example for the financial industry, blending technological advancement with a human touch.
