“We are shifting from being infrastructure providers to offering personalized advice,” explained the CEO. This transformation will be driven by a value proposition that delivers impartial, tailored, and proactive guidance through a multi-channel approach, merging digital and physical relationship models to offer the best of both worlds.
The CEO emphasized the crucial role of branches in providing advice in the context of increasing digitization, stating that agents are essential for understanding and anticipating customer needs. Data analysis is vital for creating personalized experiences, and BBVA is already designing digital journeys in its app to provide personalized and proactive advice for its customers.
This approach has a direct impact on customer satisfaction and loyalty, leading to a 39 percent higher Net Promoter Score (NPS) among users of financial health features. According to a survey, BBVA is the leader in managing and improving financial health in Spain, becoming one of the most trusted banks by citizens.
BBVA’s digital journey has progressed through four phases, ultimately aiming to digitize the advice process, adding the greatest value. The third phase involves increasing the customer base, with approximately 40 percent of new customers acquired through digital channels.
The CEO acknowledged the positive impact of digital rivals entering the banking industry, welcoming the talent and ideas from the fintech world. BBVA sees collaboration, learning, and partnership as the best approach to compete with new digital players, taking advantage of key assets such as people and data.
BBVA actively participates in the fintech ecosystem through open innovation and investments in fintech startups. The bank also partners with large tech companies to acquire new customers. Furthermore, BBVA is dedicated to advising and guiding clients in their journey toward decarbonization, leveraging data and technology as powerful tools to support this transition.
In 2020, BBVA helped companies calculate their carbon footprint and became the first bank in Spain to offer this service to individual customers, demonstrating its commitment to a sustainable future.
