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BBVA inks strategic agreement with Red Hat

As per the global agreement, Red Hat will serve as a priority partner for BBVA, while also improving the banking group’s technology-driven processes.

BBVA inks strategic agreement with Red Hat
Ricardo Moreno, head of engineering at BBVA.

Red Hat has announced the signing of a strategic partnership with Banco Bilbao Vizcaya Argentaria (BBVA).

As per the agreement, the global provider of enterprise open source software will aid in accelerating BBVA's global transformation and technology-driven processes.

BBVA aims to improve its technological capabilities, particularly in managing the recent growth of financial transactions on digital devices, while also delivering digital banking services globally.

Ricardo Moreno, head of engineering at BBVA, shared: "We are facing a new scenario that requires keeping the customer at the centre of everything we do, and technology is one of the key levers to tackle this transformation process."

"This collaboration agreement with Red Hat will help us to capitalise on the opportunities offered by cloud computing technologies, in order to continue making strides in our process of becoming a more flexible and scalable digital bank."

To tackle the demands of the global market, Red Hat will be deploying IaaS and PaaS-based platforms designed specifically for BBVA's IT infrastructure. Additionally, the banking group's cloud management platform will be based off of RedHat's CloudForms, enabling operational flexibility within a multi-cloud environment.

Red Hat is the latest company to join BBVA's alliance of strategic collaborators, serving as priority partner for the Spanish banking group.

Jim Whitehurst, president and CEO, Red Hat, said: "With a modern and flexible IaaS and PaaS-based platform, BBVA will be well-poised to take advantage of the opportunities presented by the fast-evolving digital economy and help meet growing customer expectations in these areas."

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