Growth, particularly profitable growth, is the lifeblood of long lasting - and more often than not - the most innovative companies.
Without this, a business is not only unsustainable, but it will struggle to be innovative without the capital generation it needs to deliver its clients the latest technology - in any industry. The fact is, growth creates opportunities, and it’s why globally, BBVA considers reaching more clients to be a driver of superior performance and a key pillar in its strategic plan.
Rodríguez Soler: "BBVA is focused on how we can create more opportunities for our clients, employees and other stakeholders, in all areas, but particularly in financial health and sustainability."
“BBVA is focused on how we can create more opportunities for our clients, employees and other stakeholders, in all areas, but particularly in financial health and sustainability,” said BBVA USA President and CEO Javier Rodríguez Soler. “When we grow in a profitable manner, we have more latitude to do just that - as our global leadership has said, growth leads to investment in our clients and the services they need, which creates trust, as well as our own employees, which creates engagement - and the cycle begins again.”
Of course, said Rodríguez Soler, desiring growth but not having a plan to ensure success is ultimately a dead end road, which is why the bank has uncovered multiple channels through which it can reach more clients efficiently, digital prime among them.
“Digital acquisition is obviously a strength for BBVA around the world,” he said. “In January at the global earnings presentation, BBVA revealed that its digital customers have doubled during the past four years, from 15.3 million in 2015 to more than 32.1 million today across its global footprint. We are confident that digital is still a mostly untapped channel in the U.S. and one we can leverage to grow.”
BBVA USA President and CEO Javier Rodríguez Soler
Rodríguez Soler also pointed to potential growth in clients through partnerships with its Open Platform, saying that the bank is just at the beginning of understanding how it can leverage its APIs through third parties to expand its customer base.
“Open Platform is really in its infancy, but its potential to form partnerships with market leaders, like some of those we’ve recently seen from other financial institutions, is vast,” he said.
Digital is one avenue for the kind of growth BBVA USA desires. The other is more traditional, like that we generate through our Retail network, Small Business and Commercial lines of business, but no less important or ripe with potential. For this, Rodríguez Soler homes in on the combination of the bank’s presence in strong geographies such as the economically-strong state of Texas, relevant areas of opportunity within lines of business, the bank’s branch network, ample competitive advantages as part of a Global Group, and a strong and engaged employee base.
Rodríguez Soler: "When I look at the opportunity in the US in general, and the opportunity in the bank’s own geographies specifically, I’m astounded at the possibilities."
“When I look at the opportunity in the US in general, and the opportunity in the bank’s own geographies specifically, I’m astounded at the possibilities,” he said. “Digital helps us grow beyond our boundaries, but make no mistake, the business opportunities in our geographies across the spectrum of services we offer - from consumer banking to small business and middle market - are some of the best in the world. That combined with our unique advantages, including strong global capabilities, means the potential growth is unlimited and, in turn, the opportunities afforded to our clients will be too.”
To read more about BBVA USA’s new 5-year strategic plan, and the six global pillars that are guiding it, click here. Click below to read about a specific pillar of the bank's strategic plan:
Watch BBVA.com in the coming weeks for more stories describing each of the strategic pillars in BBVA USA 5-Year Strategic Plan.