Spanish banking powerhouse BBVA has teamed up with Amazon Web Services (AWS) to modernize its investment banking platform by migrating it to the cloud. BBVA is taking advantage of AWS’ infrastructure and computing power to speed up and improve its financial market calculations.
The bank notes that the complexity and precision of these calculations are constantly increasing to meet the demands of modern corporate banking. High Performance Computing (HPC) has made it possible to perform millions of calculations at once, resulting in faster and more accurate valuations. BBVA has selected AWS for its ability to handle HPC workloads and provide the necessary infrastructure to further improve these calculations.
With the migration to AWS, BBVA anticipates reduced service costs and a significant improvement in time frames for complex valuation and risk operations. The bank also highlights that AWS is five times more energy efficient than an average European enterprise data center, as noted by 451 Research. This shift to the cloud will allow BBVA to increase its energy efficiency while providing its customers with the high-quality service they expect.
In conclusion, BBVA’s move to the cloud with AWS will streamline its investment banking operations and result in greater accuracy, speed and cost savings. It also aligns with BBVA’s commitment to incorporating cutting-edge technologies to improve its services and meet the evolving needs of its customers.
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