BBVA is using ChatGPT Enterprise to embed AI into its core banking workflows and overhaul its risks and services in this area.
For the banking industry, the challenge of generative AI is rarely one of adoption. It’s about value extraction. BBVA addressed this issue by integrating OpenAI’s platform directly into its operational backbone, a decision that will bring the tool to all departments of the bank. This 10x expansion represents one of the largest ever corporate developments in the financial sector.
The bank’s approach prioritizes data over hype. BBVA began working with OpenAI in May 2024, deploying 3,300 accounts to test the waters. This pilot phase allowed the agency to validate its use case before expanding its staff to 11,000 people.
The results of this interim deployment of AI in banking provided the necessary business case. Employees using this tool saved nearly three hours per week on daily tasks. Additionally, engagement was high, with over 80% of users logging in daily. Staff created thousands of custom GPTs to handle specific collaboration and administrative tasks, proving the utility of bottom-up innovation rather than top-down mandates.
Impact of ChatGPT on banking
This agreement is more than just a productivity tool. The aim is to restructure banking functions. BBVA will leverage this partnership to streamline risk analysis, a resource-intensive area for all financial institutions. Additionally, the agreement focuses on redesigning the software development process and improving general employee support.
“We are pioneers in digital and mobile transformation, and now we are entering the AI era with even greater ambitions. Our partnership with OpenAI will accelerate the native integration of artificial intelligence across the bank, creating a smarter, proactive and fully personalized banking experience that stays ahead of the needs of every customer,” said Carlos Torres Vila, Chairman of BBVA.
Deploying AI in a highly regulated environment like banking requires strict controls. This global rollout includes enterprise-grade security and privacy measures to ensure client data is protected while staff access OpenAI’s latest models. The ChatGPT deployment includes tools to create internal agents that securely connect to BBVA’s existing systems and banking processes.
To ensure the effective use of these tools, the companies are collaborating on a structured implementation model and specialized training programs. This addresses a common pitfall in enterprises where software is deployed without the necessary skills to take advantage of it.
Improving your banking experience with AI
This effort also targets client interfaces. BBVA has already introduced Blue, a virtual assistant built on an OpenAI model that allows customers to manage their cards and accounts using natural language. Future plans include integrating the product to allow customers to interact directly with their banks through ChatGPT.
To facilitate this, BBVA will have a dedicated team working directly with OpenAI’s product and research departments. This direct line is aimed at accelerating banks’ transition to becoming “AI-native” institutions.
“BBVA is a great example of how leading financial institutions can implement AI with real ambition and speed,” said Sam Altman, CEO of OpenAI. “This expanded collaboration will allow BBVA to embed our AI into the core of its products and operations, improving the overall banking experience for customers.”
See also: Perplexity: AI agents take over complex enterprise tasks
Want to learn more about AI and big data from industry leaders? Check out the AI & Big Data Expos in Amsterdam, California, and London. This comprehensive event is part of TechEx and co-located with other major technology events. Click here for more information.
AI News is brought to you by TechForge Media. Learn about other upcoming enterprise technology events and webinars.
