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Huawei and BBVA announce a venture to improve customers' access to financing and technology
Huawei, a global leader in information and communication technologies (ICT), is pleased to announce that it has signed a cooperation agreement with BBVA. The venture, to be marketed under the brand name Huawei Renting, will be developed by the financial institution’s subsidiary, Rent and Tech, which specializes in technology renting and financing programs for the technology business. The partners’ main goal is to complement Huawei’s technology with a series of beneficial financing conditions.
Under the terms of the agreement, Rent and Tech will provide all of the necessary commercial and financial support, as part of a technology renting model or by channelling leasing and loan transactions where appropriate, for the purpose of facilitating end clients’ access to financing for Huawei products.
“It is essential that we have a first-rate financial partner in order to cement our growth in Spain,” said José Vizoso, Huawei Enterprise’s managing director for Spain and Portugal. “This alliance will enable us to complement our purely technological range of products and services with financial alternatives of interest to our customers.”
Meanwhile, Carlos Delso, Huawei Enterprise’s channel director, notes that “the agreement will be extended to our partners to allow them to transfer its preferential conditions to their end customers, who will benefit most from this program.”
According to Juan Echevarrieta, head of BBVA Renting and Leasing, "BBVA has the specialization necessary to build on an agreement of this kind with a specialized team and tools." In the words of David Barquilla, director of Rent and Tech, the venture offers an additional benefit: “the agreement will encompass the full range of customers, from the self employed to large corporations, though small- and medium-sized businesses will be the main winners, since they will gain access to very favorable conditions for acquiring technology.This agreement proves that BBVA continues its commitment to providing financing for businesses, especially in the technology arena."
While companies today are challenged by the need to upgrade their technology in order to boost productivity, they face numerous hurdles due to a lack of funding sources. In order to address this situation and prevent companies from encountering liquidity problems when purchasing their products, Huawei has joined forces with a solid financial partner.
Huawei is a leading global provider of information and communication technologies (ICT). Thanks to our customer-focused approach and an extensive partner network, we offer end-to-end solutions in telecommunications networks, terminals and cloud computing. We create maximum added value for telecommunications carriers, businesses and consumers by providing competitive solutions and services. Our products and solutions are sold in more than 140 countries, servicing more than a third of the world’s population.
About Rent and Tech
Rent and Tech is a BBVA Group company specializing in technology renting and financing programs for the technology business. It was founded in 2009 for two main purposes.One, to give BBVA customers a specialized tech renting product under exceptionally appealing conditions. Two, to become a benchmark in the technology market, deploying its full range of experience to offer a personalized, flexible and competitive product to manufacturers, wholesalers and distributors.
BBVA is a customer-centric global financial services group founded in 1857. The Group has a solid position in Spain, it is the largest financial institution in Mexico and it has leading franchises in South America and the Sunbelt Region of the United States. Its diversified business is biased to high-growth markets and it relies on technology as a key sustainable competitive advantage. BBVA ranks among the leading Euro zone banks in terms of ROE and efficiency. Corporate responsibility is at the core of its business model. BBVA fosters financial education and inclusion, and supports scientific research and culture. It operates with the highest integrity, a long-term vision and applies the best practices. The Group is present in the main sustainability indexes.