BBVA Pivot unifies BBVA’s solutions that support companies in their international activity
BBVA head-office building in Bilbao. (Credit: Zarateman/Wikipedia.)
BBVA has renewed its range of services for companies with BBVA Pivot – an ecosystem that simplifies cash management for multinational companies. BBVA’s business customers in Spain, Mexico and other Latin American countries now have an easy experience that unifies access to all payments and collections with all the security and guarantees of the BBVA.
Company cash management is complex, especially for those with a multinational presence. These companies face different payment schedules, banking regulations and complex currency management.
BBVA Pivot unifies BBVA’s range of solutions to support companies in their international activity and facilitate a more efficient management of their day-to-day business. The solution allows centralized operations in 15 countries and 24 currencies via direct channels – SWIFT, online, and by app – with expert and comprehensive support throughout the process.
The service for companies is available in South America (Argentina, Peru, Colombia, Uruguay, and through a partner in Chile), Europe (Spain, Turkey, Belgium, France, Portugal, and the UK), Mexico, the United States, and Hong Kong.
The idea is that any company with activities in several of these countries, or that wants to expand into a new European or American market, can easily manage its finances with a single and uniform digital experience, regardless of the type of operation it carries out, the currency it works with, or the schedule or regulations of the region in which it is located.
Onur Genç, BBVA CEO, explains: “With BBVA Pivot, we want to be our customers’ partners in expanding their business to new markets and strengthen our position as their global bank.”
One of the differentiating elements of BBVA Pivot is that to start operating, only one contract is needed. This contract gives access to any global service without the need to sign an additional document for each of them. In addition, BBVA Pivot ensures a guaranteed security standard through two-factor authentication signatures and secure file transfer protocols.
“BBVA Pivot is an ecosystem of channels and global solutions for cash management services with which BBVA hopes to meet the transactional needs of our business customers operating in different countries. Our digital approach not only allows us to manage all operations from a single point, but it also includes a team of globally coordinated professionals to support companies in their multinational business activities,” said David Puente, Global Head of Client Solutions at BBVA, who recalls that the service is provided through BBVA’s business relationship managers and cash management specialists.
BBVA Pivot brings together several solutions and channels:
Pivot Net allows access, via app or the internet, to all global and local services, allowing electronic banking operations in any country via a single solution.
Pivot Connect is the system that enables company cash systems to be connected directly via Host to Host and Swift, meeting the information and payment collection needs of multinational clients.
Global Supply Chain Finance is the solution that allows corporate customers to optimize their working capital while helping to improve the financial well-being of their suppliers.
Commercial Cards provides companies with greater control over the use of corporate cards by simplifying the review and authorization processes for employee expenses.
Agent allows the monitoring of the different syndicated loans for which BBVA is an agent bank, thereby making all the information on their financing available.
Currently, the bank handles more than 65 million transactions a year worth over 370 billion euros. More than 974 of BBVA’s business customers already have access to this ecosystem, from small companies in international development to large multinationals in sectors such as telecommunications or energy.
Source: Company Press Release