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Innovation Act. 24 Jan 2018

BBVA steps up the pace of transformation in Chile, Mexico and Peru

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At BBVA, new digital solutions for customers are constantly being developed. The bank´s affiliates in Mexico, Peru and Chile are launching new tools for personal finance, implementing the use of the digital signature for contracting loans, and adding new functions to their cell phone apps.

BBVA customers around the world are increasingly going digital. This has been confirmed by BBVA Bancomer in Mexico, whose Bancomer Móvil app has grown to reach 5.3 million downloads, while BBVA Wallet has 2 million. This growth is evidence that users are overwhelmingly accepting the new functions of both services, and has helped consolidate the digital banking model in Mexico, making BBVA Bancomer a leader in digital trends.

BBVA Chile, for its part, launched ‘Firma Online' into the consumer loan market. This new service allows customers to sign for loans they have contracted by using a personalized code sent to the bank’s app from BBVA Chile's transactional website. This eliminates the need for customers to go personally to a branch office to sign for a loan.

In Peru, BBVA Continental has introduced BBVA Manager, a new functionality available on the bank´s transactional website that gives customers a detailed report of their finances and banking operations in real time. BBVA Manager can also provide savings advice, to help clients achieve their financial goals.

Also in Peru, BBVA Continental enabled BIM orders, which allows users to make transfers to anywhere in Peru on their smartphones. These transactions are faster than sending remittances through the traditional channels, which can take as much as 24 hours to reach their destination.

Big data is also an important element of BBVA Continental’s digitalization strategy. Through the BBVA Data Challenge, the bank will look for proposals to help anticipate its customers’ behavior, thanks to the predictive model Attrition. The competition, which opened last December 1, will also be connected to Big Data Innovation, which will take place on January 25 and 26, when the first winner of the first edition of the BBVA Data Challenge will be announced.

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