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BBVA Streamlines Cash Management For Multinationals

BBVA Streamlines Cash Management For Multinationals

May 24, 2021 at 09:53PM
by PYMNTS

BBVA has brought together its array of offerings to help firms with their international efforts and allow for more effective control of their everyday operations via BBVA Pivot, according to an announcement.

BBVA Pivot enables centralized operations for 15 nations and 24 currencies through direct channels, and is accompanied by in-depth expert support. The offering for businesses is accessible in a number of countries in South America and Europe, in addition to Hong Kong, the U.S. and Mexico.

“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,” David Puente, global head of client solutions at BBVA, said in the announcement.

The concept behind the service is that companies that have business in many of those nations, or that wish to grow into a new American or European market, can easily control their finances through one connected digital experience regardless of the currency it works with, according to the announcement.

BBVA Pivot combines different solutions and channels. Pivot Net provides access via web or app to every global and local service, enabling digital banking operations in all nations through one solution. In addition, Pivot Connect lets companies link their cash systems “via Host to Host and Swift,” satisfying the data and payment collection requirements of multinational customers.

The Commercial Cards component of BBVA Pivot affords firms with greater management when utilizing corporate cards, as it streamlines the review and authorization workflows for staffer expenses. Also, the Global Supply Chain Finance component lets business customers make the most of their working capital and assist in bettering vendors’ financial wellness. Moreover, Agent enables the monitoring of various syndicated loans for which BBVA serves as an agent bank.

“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,” BBVA CEO Onur Genç said in the announcement.

As reported in October, BBVA took part in a test to link the SWIFT gpi with Britain’s nationwide instant payment infrastructure, and the outcome was shown at the Sibos conference.