BBVA merges its three tech subsidiaries to form BBVA Technology
Spanish banking giant BBVA is merging its three tech subsidiaries – BBVA Next Technologies, BBVA IT España and Datio – into one united company, which is due to start operating from next year.
BBVA merges three tech firms into BBVA Technology
The bank says the new company, named BBVA Technology, will have “a more strategic focus” on software development transformation, with current BBVA Next Technologies CEO Ricardo Jurado set to lead the firm’s 3,000 employees once the integration is completed.
BBVA Next Technologies was founded in 2018 with the aim of facilitating digital transformation for the bank and its third-party clients through fintech innovation and strategy and governance services.
BBVA IT España began operating in 2017 to support the bank’s business functions and product environments as its main IT provider, while Datio manages and analyses banking industry data to create tailored products for end consumers and specialises in data integration and visualisation services. It was created in 2016 as part of a joint venture between BBVA and big data start-up Stratio.
The coming together of the three subsidiaries and their specialist technical expertise is, according to the bank, expected to promote a “new value proposition”, aiming to “reinforce satisfaction and loyalty of current teams”.
The bank’s statement on the merge makes specific reference to career development opportunities and its intention to attract new talent. This is notable as it aligns with a previous statement it released in June to promote the launch of a new job portal, in which it expressed its desire to hire over 2,600 technology professionals by the end of 2023, of which 1,000 will be based across offices in Madrid, Barcelona and Bilbao.
