Balance Sheet at 31 December 2010 of BBVA

with a common goal of harmonizing criteria and fostering more robust customer protection and
security.
Customers not satisfied with the resolution of the Customer Ombudsman can appeal before the Bank of
Spain, the CNMV or the Spanish General Directorate of Insurance and Pension Funds. The Ombudsman
always informs the customers of this option.
In 2010, 218 claims were filed against BBVA, S.A. by clients. (12% of those processed) before the various
public institutions, which were processed in the Office of the Ombudsman previously.
10. RESEARCH AND DEVELOPMENT
In 2010, the Innovation and Technology area focused its efforts on the launch of the new Growth and
Differentiation Plan for the 2010-2015 period, concentrating on the following areas or lines of action:
• Innovation model in the medium and long term
• Agreements and development of digital businesses
• Development of virtual banking
• Transformation of the distribution model
• Marketing and customers
• Transformation of branch processes
• Technology and operations
• Development and coordination of Innovation and Technology
Innovation model in the medium and long term
BBVA’s innovation model consists of creating sustained value focused on the customer’s dimensions. It is an
open and participatory innovation model, as shown by the day-to-day activity of the Group’s Innovation
Center.
In this regard, the Innovation Center has evolved into a “Living Lab” where knowledge and experiences are
shared in order to speed up the innovation process by turning ideas into reality.
In order to identify new opportunities, the agreements in the Innovation Network have been strengthened,
which in turn has expanded into new relevant and emerging markets. One good example is the Bank’s
participation in the Executive in Residence Program of the MIT (Massachusetts Institute of Technology),
by which a representative of BBVA has joined the MIT Media Lab team.
Moreover, underlining the Bank’s commitment to Innovation, in June, the Chairman and CEO of BBVA,
Francisco González, paid a visit to this prestigious institute in order to identify new fields of collaboration in
which the MIT is a world leader.
In addition, the commitment to value generation is proven by the execution of innovation projects. In 2010,
BBVA completed the test stage and began implementing at its branches pilots of the new self-service
channel, ABIL. Thanks to this reality, the magazine The Banker has awarded the Bank with the Innovation in
Banking Technology Awards 2010 in the Delivery Channel Technology category.
Agreements and development of digital businesses
Solium Mexico –an affiliate of Solium España and Bancomer– has been set up to provide cloud computing,
hosting and technology leasing services in the Mexican market. With this new subsidiary, Solium starts its
international expansion after having strengthened its business model in Spain, where it has sales of €29
million and growth of 85%.
At the same time, projects from previous years have been boosted: Ren&Tech has strengthened its position
as technological partner of Finanzia, while Blue Vista has consolidated its leadership in the digital magazine
market in Spain and has gained a foothold in Latin America with a first partnership agreement in Chile.
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