Our mobile phones have become an extension of ourselves. Even more so when looking at markets like Spain where there is significant smartphone market penetration. That's why BBVA has committed its firm support to creating a unique experience for its customers using mobile devices. The data validates the positive progress made by the business in this digital channel. The bank's app in Spain has just surpassed 5 million downloads by individual Android users, and at the close of March, the number of mobile customers exceeds 3.4 million.
Android has just awarded BBVA with a seal recognizing that since it was made available, 5 million individual users in Spain have downloaded the bank's app from Google Play with the flow of downloads surging in the past two years. How does one tally these numbers? Google has found a reliable way to know how many users have an application, since they only count the download per user account. In other words, they do not count updates or the number of times the app is downloaded, but rather count the users who do the downloading.
Seals awarded by Android recognize those applications that have 1, 2, 5, and 10 million downloads, figures that no other Spanish financial institution has achieved. BBVA leads the ranking in downloads, and is looking to achieve the highest distinction awarded by Google for downloads.
The mobile phone, at the center of the customer relationship
According to the report, Sociedad Digital, recently published by Telefónica, half of Spanish youth are “mobile first”, meaning that 90% to100% of the total time they spend on the internet, they are using their small screens. But the smartphone revolution has gone much further. The mobile device has managed to break through age barriers and has digitalized segments of the population that were harder to reach through computers.
Proof of these numbers lies in the exponential growth of BBVA mobile logins. A year and a half ago, 15 million monthly logins were registered on the web and 20 million through the app. Currently, web access has grown to 16 million logins per month, but mobile access has shot up to 43 million logins in a single month in Spain alone.
Both the surge of mobile devices, as well as the simplicity and usability of BBVA’s app, have contributed to reaching the landmark of 5 million Android downloads by individual users since the launch of the application.
Improvements every month
In the coming years, customers will be much more demanding; they will expect not only new experiences, but also that all our services will be perfectly integrated and available on a smartphone.
Examples of this can be seen in some of the recent digital tools launched by BBVA, tools that are meant to accompany our customers during the most important moments of their lives.
BBVA users can access functionalities like BBVA Invest, a new, multichannel way customers can assess and sign up for investment funds; Baby Planner helps plan for the arrival of a new addition to the family; and BBVA Valora helps in the decision-making process when buying or renting a home, showing the customer the expenses associated with buying and its revaluation. Each quarter our digital tools have been improved and new tools have been introduced, showing the customer all the data needed in the decision-making process. Additionally, functionalities such as Bconomy keep the customer up to speed on his or her financial health so appropriate decisions can be made.
At present, more than 90% of the services that can be contracted in BBVA's network of physical branches are also available on the app. A focus that is already showing tangible results in the form of sales, since a third of sales come from digital channels.
With the aim of responding more quickly and appropriately to the challenges presented by customers, BBVA uses agile methodology to develop its tools. The results are telling: customers are recommending BBVA more and more; and the market and external consultancies like Forrester have also recognized the bank's progress.
The best app in the world, according to Forrester
Last summer, Forrester Research recognized the BBVA app as the best financial sector app in the world. Among other factors, the report underscored the convenience associated with being able to do everything from the mobile phone (from signing up with a “selfie” to setting up a direct debit with only a photo). There is also personalized assessment for financial management and making important decisions (tracking deposits and expenses with “My Day to Day” or buying a home with the help of BBVA Valora).