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Mobile banking 22 Mar 2019

Digital Engagement Matters: Track, Verify, Personalize with BBVA Compass’ Mobile Engagement Tool, BankerDemo

At BBVA Compass, mobile banking has a front-of-the-line position when it comes to digital engagement, thanks to a journey that began in the bank’s retail branches five years ago.

Today, all BBVA Compass branch bankers teach their customers how mobile helps them with 21st century banking. They also use a tool that tracks and verifies their demonstrations and leverages the same data to anticipate what functionality the customer might want to learn next.

Mobile BankerDemo

To drive mobile engagement through the branch network, improving the quality of the interaction between branch employees and customers is key, says BBVA Compass Director of Relationship Model Discipline Cody Sparks. He says transitioning from general conversations to on-the-spot, employee-led demonstrations of relevant mobile banking functionality is the best way to accomplish this.

While this approach is logical, there was not a good way to track the demonstrations in order to prove the program was working and so that the bank could set targets for bankers that were backed up with reliable data.

Enter the bank’s proprietary built-in Mobile BankerDemo.

The Mobile BankerDemo - BankerDemo for short - is an in-app functionality created by the mobile banking team that tracks and reports all the activity the employee and customer perform together, aggregating it with the employee ID, non-sensitive customer information, date and time. BankerDemo tracks 10 different key functionalities ranging from mobile deposit, to payments and transfers, as well as bill pay and other activities like debit card activation or paper statements opt-outs.

Sparks:  All 5,000 plus branch employees are engaged with introducing the advantages of mobile banking to our customers.

“With BankerDemo, we are able to move beyond general conversations about mobile banking and actually create technology experts who use a phone and the bank’s app in a live demonstration to engage customers one-on-one,” Sparks said. “These interactions happen across the branch by tellers, bankers, relationship managers and branch managers. All 5,000 plus branch employees are engaged with introducing the advantages of mobile banking to our customers.”

It’s a strategy that’s working, with nearly 500,000 in-app demonstrations of mobile banking functionality completed in 2018, and 141,500 completed through the first week of March in 2019. Additionally, Sparks said, the branch teller teams finished the year at 129 percent of their goal for demonstrations.

Sparks: Without BankerDemo, we would not have been able to so thoroughly embed the mobile engagement program into our branches.

“Without BankerDemo, we would not have been able to so thoroughly embed the mobile engagement program into our branches,” he said. “The data is verifiable and reliable, and it also allows us to identify trends such as post-demonstration adoption rates and employee training opportunities, as well as prioritize lesser-known functionality.”

BankerDemo also creates an opportunity to partner with technology providers, such as MX. We're currently exploring how to use BankerDemo and the branch network to introduce our budgeting tools to customers, an opportune alignment with BBVA's goal to bring the age of opportunity to everyone. MX and our financial tools help our customers leverage all of the financial data regardless of the bank or provider to see trends and make the best possible financial decisions.

Using Big Data to Personalize Mobile Demonstrations

As a data-driven organization, BBVA Compass focuses on using data to the benefit of the customer seeking to give them the best experience with the bank. With this in mind, BBVA Compass has built a model called Next Best Functionality using the data from BankerDemo.

Next Best Functionality is a data model that predicts the next step of learning for customers that have had an in-branch mobile app demonstration performed by a branch banker. The information the model provides is given to the branch bankers who use it to further engage with their customers through in-person, face-to-face mobile demonstrations. Other bank teams also use the information to customize communications to customers that encourage them to visit their branch and take the next step in their learning about how to use mobile banking as a financial management tool.

Sparks: BBVA Compass is committed to using data to benefit customers.

“BBVA Compass is committed to using data to benefit customers,” Sparks said. “We think that using this data model will help those customers learn more complex functionality so they are comfortable with the financial management tool they carry with them day in and day out. Really, it’s our way of using data in a responsible, customer-centric way.”

Click here to read about BBVA Compass’ mobile engagement journey.