BBVA has selected Telefónica Tech to enhance its global cybersecurity measures by integrating advanced artificial intelligence and process automation technologies. As part of this collaboration, a new specialised centre will be established in Mexico, mirroring BBVA's existing Global Cybersecurity Centre in Spain.

This network of centres is designed to offer continuous and comprehensive coverage for the entire banking group. Telefónica Tech will become an important strategic partner in cybersecurity for BBVA, providing nearly 50 services aimed at comprehensive security solutions. These services include threat anticipation, operational tactics, resilience strategies, and protection for Data Processing Centres (DPCs).

The new centre in Mexico, set to be operational by July 2024, will complement the cybersecurity centre in Spain. Together, these hubs will employ approximately 200 cybersecurity professionals from Telefónica Tech, working alongside BBVA’s team to deliver a global and integrated security service. A word from officials Officials from BBVA mentioned that these cybersecurity hubs are unique in the financial industry and represent progress in protecting BBVA's infrastructure with the latest technological advancements.

The objective is to enhance the bank's security and readiness to handle various attacks while ensuring the best possible service to customers. In turn, officials from Telefónica Tech for Spain and the Americas emphasised the need for organisations to continuously update their cybersecurity measures to anticipate threats and respond effectively. They highlighted Telefónica Tech's role in supporting BBVA with its technological capabilities and skilled professionals.

In essence, through this partnership, Telefónica Tech’s capabilities will support BBVA's digital transformation efforts by leveraging advanced technologies to enhance cybersecurity across its operations in over 25 countries. In June 2024, BBVA also announced its plan to start the development of a digital bank for its customers and users in the region of Germany. Following this announcement, BBVA focused on opening a digital customer bank in Germany by leveraging already existing technology to expand at a relatively low cost.

The financial institution was also conducting a study and assembling a team for this new venture. .