BAC has reached an agreement with BBVA whereby clients of both entities will be able to benefit, as they will have a wider geographic coverage for their treasury management operations. Companies using BBVA Pivot will be able to make payments and transfers with their subsidiaries, customers and suppliers in the six new Central American countries from the same financial management solution, which will now integrate the BAC account as if it were a BBVA account. Just one year after its launch, Pivot already has 1,500 subscribers and is expected to reach a transaction volume of 680,000 million euros by the end of 2022.

Companies operating in different geographic areas need to manage banking procedures, liquidity and financing decisions, and other treasury functions more efficiently. This greater efficiency is made possible thanks to the centralization of operations that enables solutions such as BBVA Pivot and BAC’s Digital Corporate Treasury (TCD).

Now, the alliance between BBVA and BAC will extend BBVA Pivot’s advantages to companies with accounts in Costa Rica, Guatemala, Nicaragua, Panama, Honduras and El Salvador. Among these advantages are have one global connectivity, one point of contact and one contract for all your national and international procedures, operate via direct channels, SWIFT, web or ‘app’ and have comprehensive and expert support.

In the first stage, BBVA customers who also have a BAC account will be able to initiate payments and transfers from BBVA Pivot, as well as view or receive aggregated information on their account and operate with one or another from a single point, in a simple and integrated way.

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“Central America is a region where BBVA Pivot did not exist until recently and the agreement with BAC Credomatic allows us to respond to the requests of our many Latin American and Spanish clients operating with suppliers and clients in these countries,” explains Clara García Benedito, BBVA Global Solutions Business Development Manager. “Without a doubt, this is an opportunity to grow, reach new customers and at the same time, offer wider coverage for those already using Pivot, who will be able to make transactions with six new countries, from one global connectivity. , with one contract and one point of contact”, added Garcia.

“BAC is a leading regional bank in local and cross-border payment solutions for corporate clients through the TCD – Digital Corporate Treasury platform. We operate to the highest standards of cybersecurity and availability, which has allowed us to forge alliances with world-class banks like BBVA.” said Gisela Sánchez, regional director of Strategy and Corporate Relations at BAC.

BAC recently conducted a portfolio analysis of more than 145,000 corporate clients and more than 325,000 SMBs to highlight the segment’s relevance in the Central American economy and drive positive business transformation. Likewise, mapping was also carried out to identify the baseline business loan portfolio, where 6% were already projects that had positive social and environmental impacts.

“We are proud to be the first regional bank to formally commit to running a positive financial business. At BAC we want to continue to break the paradigm, we aspire to be a benchmark for banking with purpose, and that is why we have set our strategic goals aimed at continuing to maximize not only economic value, but also environmental and social value to the people of Central America . ”, said Gisela Sanchez.

BBVA Pivot is now available to companies operating in Mexico, South America (Argentina, Peru, Colombia, Uruguay, Venezuela and Chile through a partnership with Bci), Europe (Spain, Turkey, Belgium, France, Portugal and the United Kingdom). , the United States and Hong Kong.

BAC is the leading bank in Central America and has more than 4.3 million customers and more than 19,000 employees in the region. BAC takes the responsibility and opportunity to reorganize banking to create the welfare of the people it serves. Guided by integrity, excellence and passion for his work, he wants to be a pioneer and demonstrate that banking has the capacity to maximize economic, environmental and social value, all at the same time and with the same rigor and excellence.

“The world needs it and at BAC we want to do it and do it well”, concludes Gisela Sánchez.