BBVA Compass, US subsidiary of Spain’s BBVA, has launched real-time processing system in the country, which will increase efficiency and provide a new level of banking transparency and ease to customers.
The $362m technology upgrade program has been completed in association with Accenture, which replaces the bank’s core technology infrastructure for all of its 716 branches in seven states across its Sunbelt region.
In the aforesaid project, Accenture offered its Alnova Financial Solutions software to the bank, and assisted it to introduce the new system.
This upgrade will allow the bank to open a new account within five minutes from previous 45 minutes, as well as reduces time to market new products by 75%, claims the lender.
Completely integrated with BBVA Compass branch and ATM networks, call centers and online and mobile banking services, the new system boosts its checking and savings, consumer and business lending, and mortgage capabilities.
The new technology brings all of the bank’s customer account information onto a single platform, thus enabling bank to focus more on customer services.
Allowing customers to have control over their finances, the new system also posts customer transactions in real-time and provides the same information available to the bank through all points of access including branches, online, phone, ATM or mobile device.
BBVA manages more than $750bn in total assets, 48 million clients, 8000 branches and nearly 109,000 employees in over 30 nations, globally.