BBVA develops technology platform to boost risk processes with AWS and Bloomberg

Developed with AWS and Bloomberg, the cloud-based platform aims to improve risk management capabilities for the equity desk at BBVA.

Spanish bank BBVA has teamed up with Amazon Web Services (AWS) and Bloomberg to install a cloud-based platform for the equity trading team to overhaul its risk processes.

Named BBVA C-Fit, the platform aims to improve risk management capabilities across the equity desk by hosting all processes for marking and management of market data used to price or manage book risk. It also allows for mass pricing of products for distribution via electronic channels.

“BBVA C-Fit is another example of BBVA’s efforts to strategically transform the equity business into a client franchise, leveraging on technology, and with a clear focus on the manufacturing of investment products,” said global head of equity at BBVA, Roberto Vila.

BBVA C-Fit combines Amazon’s Elastic Kubernetes Service and Managed Streaming technologies with the B-PIPE flagship data feed from Bloomberg for real-time direct access to market data in the cloud.

In September last year, Bloomberg moved to deploy the B-PIPE feed to the cloud globally with AWS after rolling out the cloud service for clients in the US. BBVA said the platform was developed as the industry becomes increasingly reliant on the cloud for access to vast volumes of data.

“Cloud adoption in the financial industry has evolved such that access to reliable, high quality data delivered in real-time is the new baseline,” says Cory Albert, global head of cloud strategy for Bloomberg’s Enterprise Data business.

“With worry-free cloud access to B-PIPE’s market data, BBVA’s development teams can focus on scaling their projects to provide analytics that would be difficult to attain in an on-premises environment.”