BBVA has continued to demonstrate its digital leadership in Latin America. From digital youth banking services to contactless payments at 22,000 Oxxo stores in Mexico, BBVA continues to combine technology, inclusive services and strategic partnerships to promote digital banking excellence across the region.
At the centre of BBVA’s 2024 success is its impressive growth in digital adoption. As of December 2024, BBVA served 56.99 million customers in Latin America, up from 54.37 million the previous year. Mobile penetration reached 75% of active customers, with monthly digital transactions increasing by 2.5x since 2020. This reflects the bank’s technological prowess and its ability to deliver intuitive digital experiences.
“At BBVA, digital transformation has taken place at every level of our institution – from within, by empowering our teams, and outwardly, by placing our clients at the center of everything we do and develop,” says Hugo Nájera, head of retail banking at BBVA Mexico. “Our goal has been to provide digital solutions that help people make better financial decisions. That’s why, from the beginning, our strategy has been clear: to be a truly digital bank.”
BBVA’s global initiative Horizon has continued the bank’s digital transformation. Launched in 2021, Horizon has enabled the development and deployment of scalable, cross-border digital solutions. In 2024, BBVA introduced two major digital channels under Horizon: a next-generation web platform for businesses and a corporate banking app. These tools, now live in Mexico, Peru, Colombia and Argentina, have significantly expanded digital access for enterprise clients, offering real-time transfers, payroll payments, biometric authentication, and contextualised financing.
The bank’s use of generative AI in 2024 exemplifies its forward-thinking approach
Additionally, BBVA’s commitment to operational efficiency and data-driven services is exemplified by ADA, its global cloud-based data platform. Powered by AWS, ADA manages four petabytes of data and 40,000 databases per day, thus significantly improving the accessibility, agility and security of information management. The scalability and processing capability of the cloud has reduced the time required for analytics tasks, meaning the availability time of end users’ analytical work environments on the platform has reduced 94%. Furthermore, ADA allows BBVA to dynamically scale resources to adapt to the demand at each point, optimising costs and performance.
The bank’s use of generative AI in 2024 exemplifies its forward-thinking approach. BBVA was among the first European financial institutions to distribute ChatGPT Enterprise licences to employees in Latin America. With over 3,800 users (11,000 in total across the group) and more than 1,500 identified use cases, AI is now embedded in workflows ranging from legal support to customer insights, enhancing productivity and creativity across the organisation.
BBVA has also made significant strides in financial inclusion and digital onboarding. In Peru, it launched a fully digital account that can be opened in two minutes, with no maintenance fees and a cardless ATM withdrawal feature. Meanwhile, Powerpay, BBVA’s BNPL platform in Peru, allows consumers to finance purchases using any credit card, expanding access to flexible payment options.
The bank’s open banking strategy has strengthened through its API-based distribution channel, now active in five Latin American countries. For example, in Peru, the API Recaudos service has quadrupled BBVA’s payment point network, particularly in underserved areas.
Finally, cybersecurity remains a top priority. In 2024, BBVA partnered with Telefónica Tech to establish a dual-hub cybersecurity infrastructure in Spain and Mexico, staffed by nearly 200 professionals. This initiative ensures 24/7 protection and resilience across BBVA’s global operations.
