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Digital banking 06 Mar 2018

BBVA digital sales hit record highs in Spain at start of year

Some 42% of BBVA Spain’s sales were carried out through digital channels in January 2018, a record figure that far surpasses the same period a year earlier (24.5%) and is almost four times that of only two years ago (11%).

The solid upward trend for digital sales in all of the markets in which BBVA operates remains in place, with Spain the stand-out performer. In December 2017 almost four out of every 10 sales (37%) were carried out through digital channels and in January and over 200,000 units were sold in Spain through digital channels.

For Peio Belausteguigoitia, the director of Business Development at BBVA Spain, these results “show that people are increasing using digital bank services to manage their finances and organize their individual goals.” He said BBVA continues to add new products and services and to improve its platforms to meet the demands of customers.

One of the drivers of this growth, according to Belausteguigoitia, is that 92% of the products and services of BBVA Spain are already available through digital channels, making baking operations easier for the more than three million digital customers BBVA has in the country. An example of the rapid adoption of mobile banking is the number of monthly customer mobile movements, which has doubled in only a year.

Within the digital channels, the BBVA Spain app, which was recognized as the best in the world in 2017 by Forrester Research, remains clearly the one preferred by customers in its relations with the bank. The products most contracted digitally are loans, which is number one with 28%, followed by deposits with 20%. Two other categories where activity is growing are investment funds (16.4%) and pension funds (13.1%), with the latter posting the biggest annual increase.

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