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BBVA signs strategic collaboration with Red Hat to accelerate the Group’s global transformation

RALEIGH and MADRID

BBVA today announced a global strategic collaboration with global provider of enterprise open source solutions Red Hat, Inc. (NYSE: RHT) aimed at helping accelerate BBVA's global transformation and technology-driven innovation processes. The agreement, which turns Red Hat into a priority partner for BBVA, is part of a series of alliances that BBVA is aiming to forge with strategic partners. Red Hat president and CEO Jim Whitehurst and BBVA Head of Engineering Ricardo Moreno signed the strategic collaboration during a ceremony in Madrid today.

BBVA is a fantastic example of a global enterprise that has turned to an open source-based cloud to drive business innovation through technology. We are thrilled to collaborate with them on this journey to transform their business and to help them reach their goal of becoming the world’s first digital global bank.

Jim Whitehurstpresident and CEO, Red Hat

The partnership is designed to focus on business and technical alignment to support BBVA to accelerate innovation, manage the growth of financial transactions on digital devices and deliver digital banking services to its global customers.

“We are facing a new scenario that requires keeping the customer at the center of everything we do, and technology is one of the key levers to tackle this transformation process,” said BBVA Head of Engineering Ricardo Moreno. “This collaboration agreement with Red Hat will help us to capitalize 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.”

The new IaaS and PaaS-based platform by Red Hat will enable BBVA to focus on developing applications that can support the heavy demands of global digital bank services and provide customers with the service and information they want and when it is needed.

According to Jim Whitehurst, president and CEO, Red Hat, “BBVA is a fantastic example of a global enterprise that has turned to an open source-based cloud to drive business innovation through technology. We are thrilled to collaborate with them on this journey to transform their business and to help them reach their goal of becoming the world’s first digital global bank. 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.”

The agreement between BBVA and Red Hat will help streamline collaboration spanning several key areas, including:

  • Infrastructure-as-a-Service (IaaS):  BBVA has designed an automated, multi-tenant service cloud based on Red Hat OpenStack Platform, a highly scalable, production-ready solution that offers an open foundation for cloud deployments. This infrastructure can help BBVA deliver better, more efficient services to its clients globally.
  • Platform-as-a-Service: BBVA and Red Hat are collaborating to define and build BBVA's global corporate PaaS architecture based on Red Hat’s OpenShift container application platform. This PaaS-based architecture can help BBVA to transform the process to deliver solutions, facilitating the development and the automated deployment of new solutions.
  • Cloud management platform: BBVA’s cloud management platform, based on RedHat CloudForms, will facilitate the operating and financial management of a multi-cloud environment.

BBVA and Red Hat plan to work together on training and enablement initiatives designed to help BBVA manage its transformation and adopt new technologies, enable knowledge transfer and offer support.  

Acerca de Red Hat

Red Hat is the world's leading provider of open source software solutions, using a community-powered approach to provide reliable and high-performing cloud, Linux, middleware, storage and virtualization technologies. Red Hat also offers award-winning support, training, and consulting services. As a connective hub in a global network of enterprises, partners, and open source communities, Red Hat helps create relevant, innovative technologies that liberate resources for growth and prepare customers for the future of IT. Learn more at http://www.redhat.com.

About BBVA

BBVA is a customer-centric global financial services group founded in 1857. The Group is the largest financial institution in Spain and Mexico and it has leading franchises in South America and the Sunbelt Region of the United States; and it is also the leading shareholder in Garanti, Turkey’s biggest bank for market capitalization. Its diversified business is focused on high-growth markets and it relies on technology as a key sustainable competitive advantage. Corporate responsibility is at the core of its business model. BBVA fosters financial education and inclusion, and supports scientific research and culture. It operates with the highest integrity, a long-term vision and applies the best practices. The Group is present in the main sustainability indexes.

Declaraciones prospectivas

Certain statements contained in this press release may constitute "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. Forward-looking statements provide current expectations of future events based on certain assumptions and include any statement that does not directly relate to any historical or current fact. Actual results may differ materially from those indicated by such forward-looking statements as a result of various important factors, including: risks related to the ability of the Company to compete effectively; the ability to deliver and stimulate demand for new products and technological innovations on a timely basis; delays or reductions in information technology spending; the integration of acquisitions and the ability to market successfully acquired technologies and products; the effects of industry consolidation; uncertainty and adverse results in litigation and related settlements; the inability to adequately protect Company intellectual property and the potential for infringement or breach of license claims of or relating to third party intellectual property; risks related to data and information security vulnerabilities; ineffective management of, and control over, the Company's growth and international operations; fluctuations in exchange rates; and changes in and a dependence on key personnel, as well as other factors contained in our most recent Annual Report on Form 10-K (copies of which may be accessed through the Securities and Exchange Commission's website at http://www.sec.gov), including those found therein under the captions "Risk Factors" and "Management's Discussion and Analysis of Financial Condition and Results of Operations". In addition to these factors, actual future performance, outcomes, and results may differ materially because of more general factors including (without limitation) general industry and market conditions and growth rates, economic and political conditions, governmental and public policy changes and the impact of natural disasters such as earthquakes and floods. The forward-looking statements included in this press release represent the Company's views as of the date of this press release and these views could change. However, while the Company may elect to update these forward-looking statements at some point in the future, the Company specifically disclaims any obligation to do so. These forward-looking statements should not be relied upon as representing the Company's views as of any date subsequent to the date of this press release.