BBVA Compass customers have access to real-time transactions as of Wednesday thanks to the bank's partnership with Dwolla. The bank hopes the service will attract more customers. BBVA Compass has provided Dwolla with access to its core system to encourage innovation.
BBVA Compass takes a "multi-tier approach" as a lender and investor to have an effective presence in the community, says CEO and Chairman Manolo Sanchez. The bank has pledged $11 billion in investments and loans to low- to moderate-income communities and individuals, including the new Home Ownership Made Easier program. Technology is also a key area for the bank.
Manolo Sanchez, head of BBVA Compass, says the bank's international operations have helped drive recent technology improvements that speed consumer banking transactions. "We have seen how banking technology has become a feature in many other markets," he said. "There's a whole generation coming that ... they don't go to a bank branch, they don't know what that is for."
Manolo Sanchez, president and CEO of BBVA Compass since late 2008, explained how the bank has been successful despite the global financial crisis and ensuing economic downturn. "We didn't touch any toxic assets that were the root of problems" for many financial institutions, Mr. Sanchez said. He also discussed the bank's outlook and plans. "We're serious about growing," Mr. Sanchez said, though "quality is more important. We want to be the best bank in Alabama."