BBVA officially presented the six strategic priorities that will allow the Group to accelerate and strengthen its transformation in the coming years. Group Executive Chairman Carlos Torres Vila and CEO Onur Genç announced the new priorities at a Live@BBVA event, broadcast via streaming for the bank’s 126,000 employees around the world.
Five years ago, BBVA bolstered its strategy — which is heavily focused on digitization and transformation — by defining its purpose (“To bring the age of opportunity to everyone”), its values, and six strategic priorities that allowed the Group to ramp up its transformation in recent years. Now, to continue amplifying the impact of its transformation, BBVA has taken another step forward that will allow it to adapt to the major trends that are changing the world and the financial industry.
Carlos Torres Vila began by reviewing the achievements of the past five years. BBVA’s Group executive chairman recalled that the Group has doubled the number of customers who bank through digital channels, and more than tripled those using a smartphone. “This is thanks to the efforts of the entire team, from those of you who are in the branch network promoting digitization, to those who have developed our incredible mobile functionalities," he said.
Thanks to these features, the BBVA Spain banking app has been recognized as the world’s best by consulting firm Forrester for the third consecutive year, followed in second place by the Garanti BBVA’s application in Turkey.
Carlos Torres Vila also mentioned successful achievements in the digital sales area; improvements to customer experience; the bank’s leading position in customer satisfaction scoring (NPS) in most locations; the results obtained in the main financial indicators and in approaches to work that are making the organization more agile, dynamic, with fewer silos and more communication among the areas; as well as the introduction of a single global brand.
“We want to repeat this success. We have selected six more priorities to amplify the impact of our digital transformation on our customers and society, with a key role for the team, technology, and data, to make our purpose a reality and reach more clients," BBVA’s Group executive chairman said.
Six new priorities
BBVA CEO Onur Genç shared the six new strategic priorities with employees.
- Improving our clients' financial health, helping them manage their money. "We have to ensure that we advise them on their financial well-being so that they trust us as their financial advisors,” he indicated.
- Helping our clients transition towards a sustainable future, focusing on climate change and social development that is inclusive and sustainable.
- Reaching more clients to have profitable growth. “Growth means more and better opportunities for our customers,” Onur Genç declared.
- Driving operational excellence. This priority is about efficiency and managing risks, both financial and non-financial. BBVA has chosen an efficient and productive operational model with automated, simple processes thanks to the use of new technologies and data analytics.
- The best, most engaged team because "BBVA business is a business made of people; because we are people working for people. And that’s why the team continues to be one of our priorities at BBVA", he stated.
- Data and technology, "two fundamental pillars that will support us as we fulfill our goals.”