BBVA taps Amazon and Bloomberg for cloud-based equities platform
Spanish multinational bank BBVA has collaborated with Amazon Web Services and Bloomberg for the development of an equity trading platform.
Dubbed “BBVA C-fit”, the new system is part of a multi-step journey for BBVA in an ongoing digitalisation programme.
The bank hopes the new system can boost its corporate and investment banking division. It adds that C-fit will “significantly expand” the range of services it provides clients.
The system will host all the processes related to management of market data.
It combines Amazon’s Elastic Kubernetes Service and Amazon Managed Streaming for Apache Kafka with Bloomberg’s B-Pipe.
BBVA says the system offers real-time direct access to market data over the cloud and incorporates technology for designing and developing microservice apps.
“BBVA C-fit is another example of BBVA’s efforts to strategically transform the equity business into a client franchise,” says Roberto Vila, global head of equity at BBVA.
Cory Albert, global head of cloud strategy for Bloomberg’s enterprise data unit, says the new system provides upgraded analytics.
“Cloud adoption in the financial industry has evolved such that access to reliable, high quality data delivered in real-time is the new baseline.”
On the retail side of things, BBVA recently debuted a line of numberless credit cards under the “Aqua” brand.
These cards do not have card numbers (PAN), expiry dates or card verification value (CVV) printed on them.
Customers must access BBVA’s mobile app and check the card number, CVV and expiration date when making purchases.
It is the first Spanish financial institution to deploy the new verification process for electronic transactions included in the Second Payment Services Directive (PSD2).