This IDC Financial Insights report shows how the Spanish bank BBVA Compass was able to leverage its assets in Spain and Latin America to increase the value of its U.S. acquisitions. In 2007, BBVA Compass embarked on a quest to transform itself into a world-class institution, using the best processes and technology from its global footprint. With the help of Accenture and its Alnova core banking system, BBVA Compass was able to substantially improve its efficiency ratio while improving customer service, sales effectiveness, and governance.
Karen Massey, senior analyst, Consumer Banking, IDC Financial Insights says, "We see the BBVA Compass core replacement project as an important precedent, establishing how non-U.S. financial institutions can create value through U.S. acquisitions. This has important implications for the competitiveness and success of the U.S. banking industry as a whole."