MADRID, November 8, 2024 — BBVA (NYSE: BBVA) has signed an agreement with Kyndryl (NYSE: KD), the world’s largest IT infrastructure services provider, to create two joint ventures, one in Mexico and another one in Spain to run its mission-critical systems. Thanks to this collaboration, the bank will improve the user experience of its clients and will maximize the stability, security, resiliency and robustness of its IT operations.
This collaboration combines BBVA’s experience and expertise with the latest innovative technologies and operational practices offered by Kyndryl and its advisory services, Kyndryl Consult.
The main objective of this collaboration is to optimize the management of the bank’s mission-critical systems using the highest standards of quality, service and security, while helping the bank to respond to new regulatory developments such as DORA (Digital Operational Resilience Act) in Europe, and new market trends such as artificial intelligence applied to operations.
"We are very proud that a firm with BBVA's international prestige is entrusting Kyndryl and its advisory services, Kyndryl Consult, to work side-by-side with its team to support the continued transformation of its mission-critical systems,” said David Soto, president of Kyndryl Spain and Portugal. "We are committed to driving the bank’s innovation and expanding its ecosystem with the best technology providers in the world to create greater value for customers."
The new joint ventures will allow BBVA to focus on improving the user experience, while also offering customers a continuous, reliable service powered by stable, robust technological operations. This collaboration model positions BBVA to lead, enhance and accelerate the transformation of the financial sector, leveraging the latest technologies and operational practices to remain at the forefront of innovation.
IT Consultancy and Automation
Kyndryl has a long tradition of working with BBVA. Under this new agreement Kyndryl will extend its expertise by adding its advisory services, Kyndryl Consult, as well as Kyndryl Bridge, our AI-powered, open integration digital business platform that offers greater observability across an entire IT estate.
