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Digital banking 25 Oct 2017

EFMA names BBVA a Global Innovator in Banking

The BBVA Group was once again recognized for its digital transformation. The European Financial Management & Marketing Association (EFMA) presented BBVA the 2017 award for Global Innovator in Banking in recognition of its efforts to innovate and offer customers unique experiences. The awards ceremony took place this afternoon as a precursor to the 45th annual EFMA Congress, which starts tomorrow in Rome.

The award is part of the EFMA – Accenture Distribution & Marketing Innovation (DMI) Awards and recognizes BBVA for its adoption of innovation and new technologies to offer “next-generation” digital banking services. Forrester Research also recently recognized BBVA’s app as the best in the world for mobile banking services.

According to EFMA, over the past three years, BBVA has demonstrated a clear commitment to the transformation of its services in order to offer its customers a unique experience. One of these advances includes the use of biometric authentication to register new customers in Spain. The service is known as Alta inmediata, and it allows customers to register in just five minutes. Other cited examples include the voice assistant on Garanti’s (BBVA’s bank in Turkey) mobile banking app, and the BBVA Send service in Mexico, which allows customers to send money to any contacts in their smartphone.

efma-bbva-2017

The European Financial Management & Marketing Association (EFMA) presented BBVA the 2017 award for Global Innovator in Banking.

More than 80% of BBVA’s catalogue of products and services are currently available on mobile channels – a number that will surpass 90% by the end of the year. BBVA had more than 20 million digital customers as of last July, and also registered more than one million monthly sales on digital channels for the first time. Furthermore, one out of every four of BBVA’s sales around the world now takes place on digital channels.

BBVA was also a finalist in the Best Product or New Service category for BBVA Valora, a tool that uses big data technology to help users choose a new home.

EFMA reports that a total of 183 financial services institutions participated in this year’s competition. They come from 59 different countries and presented 467 innovative projects

This solution allows users to find out the price to rent or buy a home. It also shows what services are available in the neighborhood, as well as other relevant data. This service also gives the user information on how much they can afford to spend and an overall picture of their budget for household expenses, helping customers to manage their personal finances. Nearly two million searches had been conducted on BBVA Valora as of September.

EFMA reports that a total of 183 financial services institutions participated in this year’s competition. They come from 59 different countries and presented 467 innovative projects. The jury for the 2017 DMI Awards included the top 50 banks in the world.

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