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Comments (0) Banks, Global trends, Mobile-first banks

BBVA ports 92% of product portfolio to the mobile

BBVA’s mobile banking strategy is picking up pace, with the bank predicting that virtually its entire portfolio of Spanish banking products will be available as an app-based service by year-end.

The bank says that its mobile banking app has gone from offering 16% of products just three years ago, to 82% today, and will reach 92% next December.

In August, the bank reported over three million mobile customers in Spain, with product sales via the smartphone now surpassing online applications from the bank’s Website.

The Spanish bank says interactions via the mobile app have seen a 135% increase over the course of the past year, rising from 23.8 million in May 2016 to 56 million in May 2017. Mobile app subscribers have grown by 30% over the past seven months, continuing the strong momentum that has been in place since December 2015, when the bank had 1.9 million mobile customers.

For transactions that cannot be completed over the phone, BBVA complements its digital product offering with a personal advisory service, provided through a number of channels, including remote managers. A customer now can initiate a transaction with support from his/her manager through the BBVA app, continue the process by phone, and finally complete the transaction by visiting the branch.

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