Spanish banking group BBVA and artificial intelligence developer OpenAI have formalised a strategic alliance aimed at embedding generative AI deeply into financial services, signalling a new phase in how technology is reshaping the banking sector. The collaboration, announced by BBVA’s chair Carlos Torres Vila and OpenAI’s chief executive Sam Altman, follows nearly two years of joint work and represents one of the most ambitious AI partnerships in the industry to date.
Under the agreement, OpenAI will support BBVA’s broader AI strategy by advancing native integration of large language models across customer-facing and internal systems. A cornerstone of the deal is the planned roll-out of ChatGPT Enterprise to all 120,000 BBVA employees globally, expanding on an initial deployment involving 11,000 users that delivered productivity gains by automating routine tasks. Early results indicated that users saved several hours per week, underlining the potential efficiency benefits of generative AI tools in banking operations.
The alliance sets out joint objectives and shared investments in AI solutions designed to transform customer experience, streamline internal processes and unlock new ways of working. BBVA and OpenAI teams will co-develop technologies such as intelligent conversational assistants that anticipate client needs, systems to improve risk analysis, and tools that automate software development and other internal workflows. This reflects a broader trend in financial services where banks seek to leverage advanced AI to differentiate offerings and enhance operational agility amid competitive pressures.
In addition to productivity enhancements, BBVA is exploring how to integrate banking products and service discovery directly within AI-driven interfaces, including demonstrators that connect digital banking services with conversational assistants. Such innovations may redefine customer engagement, though they also raise considerations about data security, regulatory compliance and ethical use of AI in highly regulated sectors like financial services.
The strategic alliance between BBVA and OpenAI represents a significant inflection point in the integration of generative AI within traditional banking. How effectively these technologies can balance enhanced customer personalisation with robust risk management and governance frameworks will be a critical dimension as other financial institutions watch and potentially emulate similar collaborations.
