OpenAI To Power BBVA’s Shift to AI-Native Banking

OpenAI announced a collaboration with BBVA (Banco Bilbao Vizcaya Argentaria), a major Spanish multinational financial group. The announcement said that the two have entered into a multi-year program that will bring ChatGPT Enterprise to 120,000 employees and support BBVA’s shift toward AI-native banking.

OpenAI And BBVA Are Entering A Multi-Year Program

OpenAI said that it is expanding its collaboration with the bank by turning it into a multi-year strategic AI transformation program that will see ChatGPT Enterprise roll out to its employees around the world. This represents a 10x increase on their current deployment.

The new agreement will also see OpenAI’s help with advancing BBVA’s AI strategy, which has a goal of completely transforming the customer experience, enabling new ways of working, and optimizing internal operations.

The collaboration will allow the bank to create new AI solutions that will transform customer interactions and equip bankers to better support clients. It will also streamline and enhance risk analysis, and redesign internal processes, such as software development and employee productivity support.

Commenting on the matter, BBVA’s Chairman, Carlos Torres Vila, said: “We were pioneers in the digital and mobile transformation, and we are now entering the AI era with even greater ambition. Our alliance with OpenAI accelerates the native integration of artificial intelligence across the bank to create a smarter, more proactive, and completely personalized banking experience, anticipating the needs of every client.”

BBVA Expands Partnership After Nearly Two Years Since The Initial Deal

OpenAI’s announcement further explained that this expansion will build on almost two years of successful AI deployment, as BBVA initially started working with OpenAI in May 2024. At the time, it rolled out 3,300 ChatGPT accounts to employees, and after seeing the initial success, it expanded its rollout to 11,000 employees.

“BBVA is now expanding its rollout of ChatGPT Enterprise to all 120,000 employees across its operations, in 25 countries. This makes it one of the largest enterprise deployments of generative AI in the financial services industry and an example of how AI can be used to improve workflows in a highly regulated environment,” OpenAI wrote.

Meanwhile, the company’s CEO, Sam Altman, added that BBVA is a strong example ow how a large financial institution can adopt AI with real ambition and speed. “With this expansion of our work together, BBVA will embed our AI into the core of their products and operations to enhance the overall banking experience for their customers,” he added.