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Madrid, Spain – BBVA has been recognized as the leading bank in Spain for its innovative use of artificial intelligence (AI) in the financial sector, according to the inaugural Global Finance AI in Finance Awards. This prestigious accolade underscores BBVA's commitment to leveraging AI to enhance customer experience, drive operational efficiency, and maintain a competitive edge in the rapidly evolving financial landscape.

The Global Finance AI in Finance Awards, a newly established benchmark for excellence in AI adoption within the banking industry, evaluated institutions across various criteria, including the breadth of AI applications, the impact on business outcomes, and the strategic vision for future AI integration. BBVA's comprehensive AI strategy, which spans across numerous areas of its operations, impressed the judging panel.

A Pioneer in AI Integration

BBVA’s journey with AI has been marked by a proactive and ambitious approach. The bank has invested heavily in developing and deploying AI-powered solutions across its retail, commercial, and investment banking divisions. Some key areas where BBVA is utilizing AI include:

• Customer Service: AI-powered chatbots and virtual assistants provide 24/7 support, resolving customer queries quickly and efficiently. These tools are constantly learning and improving, offering increasingly personalized interactions.
• Risk Management: Advanced AI algorithms analyze vast datasets to identify and mitigate potential risks, safeguarding the bank and its customers from fraud and financial losses.
• Personalized Financial Advice: BBVA utilizes AI to analyze customer data and provide tailored financial advice, helping customers make informed decisions about their investments and savings.
• Process Automation: AI is streamlining internal processes, reducing operational costs, and improving efficiency across various departments.
• Fraud Detection: BBVA employs sophisticated AI models to detect and prevent fraudulent transactions in real-time, protecting customers' accounts and assets.

Beyond Technology: A Strategic Vision

What sets BBVA apart is not just its technological prowess, but also its clear strategic vision for AI. The bank views AI not merely as a tool to automate tasks, but as a fundamental driver of innovation and growth. BBVA’s leadership team is committed to fostering a culture of AI experimentation and collaboration, ensuring that the bank remains at the forefront of the financial technology revolution.

“We are delighted to receive this recognition from Global Finance,” said a BBVA spokesperson. “It validates our unwavering commitment to leveraging AI to create value for our customers and shareholders. We believe that AI will play an increasingly important role in the future of banking, and we are excited to continue leading the way in this space.”

Looking Ahead

BBVA’s success in the Global Finance AI in Finance Awards serves as an inspiration to other financial institutions seeking to embrace the transformative power of AI. As AI technology continues to evolve, BBVA is well-positioned to capitalize on new opportunities and further solidify its position as a leader in the global financial industry. The bank plans to continue investing in AI research and development, expanding its AI capabilities, and exploring new applications for this powerful technology. The future of banking is here, and BBVA is leading the charge.