Infosys Technologies has signed a global agreement with Spanish banking group Banco Bilbao Vizcaya Argentaria (BBVA) for the supply of its Finacle core banking technology.
The Indian IT major will start the transformation exercise in BBVA Banco (Paraguay) soon and will implement Finacle core banking, customer relationship management (CRM), treasury and wealth management solutions.
With the transformation and innovation plan launched in 2007,

BBVA also aims to further improve cost efficiencies and productivity.
BBVA said it would invest EURO 5.6 billion in technology over the next three years, with around Euro 2.5 billion of the total spent on initiatives arising from the bank's global 'innovation and transformation' plan, which is expected to increase productivity by 15% and improve efficiency by 20%.