In today's fast-paced global business environment, international expansion is the key to growth for many multinational corporations. To navigate the complexities of cross-border finance and facilitate seamless market entry, BBVA, a leading multinational bank, has introduced its groundbreaking "Cross-Border" model. This innovative approach, spearheaded by more than 2,500 specialized managers, is reducing non-resident account requirements by up to 70% and revolutionizing the way businesses expand into new markets.
Globalization has opened up countless opportunities for companies to reach new customers and diversify their operations. However, expanding across borders also presents a myriad of financial challenges, from setting up subsidiaries in foreign countries to securing lines of credit and accessing foreign stock exchanges. Recognizing these challenges, BBVA Business Banking has introduced an end-to-end "Cross-Border" solution available in 14 countries.
BBVA's "Cross-Border" approach offers multinational corporations three invaluable advantages: streamlined processes, a dedicated team of professionals, and an extensive array of technical and information solutions. Carlos Espejo, Global Head of Cross-Border, Corporate, and Business Banking at BBVA, emphasizes the bank's commitment to being a strategic partner for its clients. "Our goal is to make our clients feel like they work with one global bank rather than local banks in each country," he states.
One standout feature of BBVA's service is the "Fast-Track" method for opening accounts for non-resident companies. This pioneering service has significantly reduced the bureaucratic hurdles associated with international expansion. Hague Apostilles, sworn translations, and in-person signatures have all been slashed by 70%, saving companies valuable time and resources.
BBVA's network of more than 2,500 Business Banking managers is a critical asset in this process. These professionals coordinate the financial activities of over 120,000 subsidiaries of business groups across 14 countries, facilitating seamless communication between nations. The network includes global managers, local managers in each country of operation, and international coordinators who expertly handle cross-border requirements.
Carlos Espejo emphasizes that BBVA is committed to providing the best support for companies' needs in any country within 24 hours. This level of responsiveness and expertise is invaluable for businesses aiming to navigate the complexities of international expansion.
In an era of increasing globalization, forward-thinking enterprises are turning to multinational banks like BBVA. The bank's Business Banking division is experiencing double-digit growth thanks to its innovative financial products and services tailored for overseas market expansion and solutions to manage international business risks.
BBVA's dedication to excellence has not gone unnoticed. The bank has received numerous accolades, including the prestigious Global Finance Award for the best corporate bank of 2023. This recognition underscores BBVA's commitment to providing world-class financial solutions for businesses operating across borders.