BBVA signs agreement with Telefónica Tech to boost cybersecurity on a global scale

Press release by Telefónica and BBVA

This is a machine translation of the original release, issued in Spanish

Madrid, July 22, 2024. BBVA has chosen Telefónica Tech to boost the cybersecurity of its operations on a global scale with the incorporation of the most advanced technologies in artificial intelligence and process automation for the prevention of cyber threats. In addition, this alliance entails the creation of a new specialized center in Mexico, which will function as a mirror of the BBVA Global Cybersecurity Center that already exists in Spain. The combination of both will allow us to offer comprehensive and uninterrupted coverage to the entire Group.

With the development of this new project, Telefónica Tech has become one of BBVA's main strategic partners in cybersecurity. Thus, the bank will incorporate the latest advances of the technology company, supported by its global experience and the advantages offered by intelligence to detect, identify and respond to possible threats, as well as to monitor the activity of cyberattackers. Telefónica Tech provides almost fifty services aimed at providing a holistic security response to each operational and business element of the bank, ranging from solutions for the proactive anticipation of threats, definition of operational tactics, strategies to reinforce BBVA's resilience or protection for Data Processing Centers (DPCs).

One of the main novelties of this agreement is the creation of a new specialized center in America, located in Mexico, which will be fully operational this July and which will be added to BBVA's cybersecurity center in Europe (Spain). These two hubs will have nearly 200 Telefónica Tech cybersecurity professionals, who will work jointly with the BBVA team, to provide a global and complementary service, thus forming one of the largest cybersecurity centers in the financial industry.

Sergio Fidalgo, Global CISO of BBVA, states that “these two hubs specialized in cybersecurity are unique in the financial industry and represent a new step to protect our infrastructures with the latest technological advances. Our goal is to be an increasingly secure bank prepared to respond to all types of attacks and offer the best service to our clients with the greatest security guarantees on the market.”

María Jesús Almazor, COO of Telefónica Tech for Spain and America, points out the importance of organizations continually evolving their cybersecurity measures to be able to anticipate threats and be able to provide the best response in the event of an attack. “It is a pleasure to accompany BBVA in this global security process with our technological capabilities and the talent of our professionals, who have the support of a global network of more than 1,500 experts in cybersecurity operations and with more than a dozen centers. of security operations (SOCs) distributed in Europe and America to monitor and supervise the security of organizations 24x7”, he assures.

With this evolution in cybersecurity operations, BBVA continues on its path of digital transformation, adopting the most advanced technologies in artificial intelligence and process automation with Telefónica Tech to increase the protection of digital customers in more than 25 countries. in which the bank has a presence.

About Telefónica Tech

Telefónica Tech is the leading company in digital transformation. The company has a wide range of integrated technological services and solutions for Cybersecurity, Cloud, IoT, Big Data or Blockchain. For more information, see: https://telefonicatech.com/

About BBVA

BBVA is a global financial group founded in 1857. The entity is present in more than 25 countries, has a leading position in the Spanish market, is the largest financial institution in Mexico and has leading franchises in South America and Turkey. BBVA contributes through its activity to the progress and well-being of all its stakeholders: shareholders, customers, employees, suppliers and society in general. In this sense, BBVA supports families, entrepreneurs and companies in their future plans and helps them take advantage of the opportunities provided by innovation and sustainability. Likewise, BBVA offers its clients a differential value proposition leveraged on technology and data, helping them improve their financial health with personalized information when making financial decisions. For additional financial information about BBVA, visit: https://accionistaseinversores.bbva.com/ and for more information about BBVA, visit: https://www.bbva.com