BBVA and OpenAI have formed a strategic alliance to explore the use of AI in financial services.
The agreement, announced by BBVA Chair Carlos Torres Vila and OpenAI CEO Sam Altman, follows nearly two years of joint work and reflects a formal collaboration between the two organisations.
Teams from both companies will work together on shared objectives and joint investments, with OpenAI supporting BBVA’s AI strategy to transform customer experience and optimise internal operations.
“Our alliance with OpenAI accelerates the native integration of artificial intelligence across the bank to create a smarter, more proactive, and completely personalised banking experience, anticipating the needs of every client,”
said Carlos Torres Vila during the signing at OpenAI’s San Francisco headquarters.
Under the agreement, OpenAI will have a role in co-creating solutions to advance BBVA’s AI-driven transformation.
The bank will have preferential access to OpenAI’s advanced models, engineering, research, and development teams.
Key initiatives include developing an intelligent conversational assistant to support customers in daily banking and setting a benchmark for engagement and service.
The companies will also work on tools to help relationship managers provide personalised services.
The collaboration extends to operational improvements, such as streamlining risk analysis and optimising software development and routine tasks.
One project under consideration is a digital “alter ego” for employees, which would learn work patterns, track projects, and perform tasks under supervision.
“With the expansion of our work together, BBVA will embed our AI at the core of its products and operations to enhance the overall banking experience for their customers,”
said Sam Altman.
Featured image credit: BBVA
