This Day On The Street
Continue to site right-arrow
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here
Stocks Under $10 with 50-100% upside potential - 14 days FREE!

BBVA Compass Named 'Model Bank Of The Year' By Celent

Stocks in this article: BBVA

BIRMINGHAM, Ala., Feb. 28, 2013 /PRNewswire/ -- BBVA Compass won the Celent Model Bank award on Wednesday for its core banking transformation, lauded in the business press as a "game changer" when it debuted last fall.

The bank's technology upgrade marks one of the first successful core infrastructure replacements for a major U.S. bank in more than a decade. Celent honored the achievement with its award, which recognizes the use of technology that has a clear and sustainable impact on business, improves sales, reduces risk, improves processes and performance, or meets market demands. Previous award winners include Citibank, Wells Fargo, JPMorgan Chase, and Umpqua Bank.

"The implementation of our new core system was a huge milestone for us," said Manolo Sanchez, BBVA Compass president and CEO. "By introducing this powerful and flexible technology, we're able to increase our focus on the rapidly changing needs of our customers and provide them with more personalized and innovative services."

The new system powers BBVA Compass' checking and savings, consumer and business lending, and mortgage capabilities – and is fully integrated with its branch and ATM networks, call centers and online and mobile banking services. The $362 million project cut the time it takes to open a new deposit account to as little as five minutes from more than 40, and reduced time to market for new products by up to 75 percent.

The system also allows the bank to support its first wholly digital banking product: NBA Banking, which launched this month and is maintained entirely online. It allows BBVA Compass to expand beyond its Sunbelt footprint and capitalize on its role as the official bank of the NBA in the U.S.

The new core platform is now being used in the bank's more than 700 branches in seven states. The system is based upon Alnova Financial Solutions, Accenture's core banking software platform. Accenture also helped BBVA Compass implement the platform.

1 of 2

Select the service that is right for you!

Action Alerts PLUS
Try it NOW

Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
  • Weekly roundups
TheStreet Quant Ratings
Try it NOW
Only $49.95/yr

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
  • Upgrade/downgrade alerts
Stocks Under $10
Try it NOW

David Peltier, uncovers low dollar stocks with extraordinary upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
  • Weekly roundups
Dividend Stock Advisor
Try it NOW

Jim Cramer's protege, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Alerts when market news affect the portfolio
  • Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
Real Money Pro
Try it NOW

All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.

Product Features:
  • Real Money + Doug Kass Plus 15 more Wall Street Pros
  • Intraday commentary & news
  • Ultra-actionable trading ideas
Options Profits
Try it NOW

Our options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • 100+ monthly options trading ideas
  • Actionable options commentary & news
  • Real-time trading community
  • Options TV
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!


DOW 17,804.80 +26.65 0.15%
S&P 500 2,070.65 +9.42 0.46%
NASDAQ 4,765.38 +16.9840 0.36%

Brokerage Partners

Rates from

  • Mortgage
  • Credit Cards
  • Auto

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs