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Digital processing Updated: 05 Nov 2020

BBVA drives forward its strategy with SMEs and the self-employed

BBVA strengthens its solutions for small and medium sized enterprises across its footprint, thanks to a strategy that prioritizes the relationship model, product distribution and the use of technology as a competitive advantage. BBVA was recently recognized as the best global bank for Small and Medium-Sized Enterprises (SMEs) at the 2020 SME Finance Forum Awards.

The Group continues to make strides in the SMEs and self-employed segment in Spain, Latin America, United States and Turkey. In a context marked by the COVID pandemic, BBVA has continued developing new solutions to cater to these customers that make up the backbone of the productive system in their countries. Also, the bank played a key intermediary role, helping SME clients to access the different government-backed support programs in each country of its footprint.

"BBVA is driving forward its strategy with SMEs and the self-employed, strengthening the relationship and management models, with the aim of managing them according to the customers’ needs," said Gokhan Koca, head of SME at BBVA.

BBVA developes programs to facilitate online sales for our customers as well as implemented 100% E2E digital onboarding

In this complex scenario, BBVA has “developed programs to facilitate online sales for our customers as well as implemented 100% E2E digital onboarding in Spain,” he added. The bank has also made progress in its remote management model for customers by creating the SME Transaction Manager role in Spain.

As for digital channels, it is worth mentioning the launch of the BBVA Empresas App (GEMA) in Mexico and its expansion to Peru and Colombia, which will allow SMEs and self-employed to manage their businesses from their smartphones in a simple and effortless manner. Among other functionalities, our customers may request a loan linked to the sales on a POS tool, a pioneering product in the Mexican market, based on the transactionality of each customer.

The ‘Neighborhood Bank', closer than ever

BBVA was recently recognized as best global bank for Small and Medium-Sized Enterprises (SMEs), in the silver category, at the 2020 edition of the SME Finance Forum Awards. In its citation, the jury underscored the ‘Banco de Barrio (Neighborhood Bank)’ initiative in Mexico, a model that has been built adapting all distribution processes, products and model to better serve the country’s SME customers, and “to be even closer to small and medium-sized enterprises,” said Koca.

The SME Finance Forum works to broaden the access of SMEs to financing and is managed by the International Finance Corporation.

Next steps

In 2021, the SME area within Client Solutions aims to keep developing innovative solutions for its clients in the segment, harnessing the advantages enabled by technology.

Besides crystallizing the progress achieved in 2020, the area will roll out next year a new range of initiatives, such as the improvement of relationship models in Colombia, Peru and the U.S. Another focal point will be the development of new risk models to improve response times and proactively offer financial solutions to customers.

Also, BBVA is working in the development of more and better digital capabilities, including digital onboarding, purchasing products and services with 100% digital processes and rolling out DIY features to allow customers to manage their businesses autonomously.