More than 60 percent of digital customers who accessed BBVA's app in Spain in 2022 used the financial health tools to manage their finances. This means that six out of ten customers are already using these tools to manage their income and expenses, their budgets or set their savings goals. The total volume of interactions with the financial health via the app reached 18.5 million at the end of 2022, an increase of 35.9 percent compared to the same period of the previous year.
The management of day-to-day expenses is the most widely used tool in 2022, with a 42 percent growth in use. In this regard, Manuel Morales, Head of Global Digital Product at BBVA, assures that “one of the experiences most valued by our customers is the categorization of expenses or any movement they have made in a supermarket or store, whether online or in person”. This allows them “at a glance, to have an overview of what is being spent and where, and to compare it with revenues in order to find the right balance” he added.
The use of these features has also increased customer satisfaction in Spain. In the last quarter of 2022, the Net Promoter Score (NPS) of customers who used these financial health tools was nine percentage points higher than other customers who did not. Likewise, financial health tools are an element to be considered when taking out products. In fact, 22 percent of mortgage contracts were taken out after visiting BBVA Valora.
On the other hand, the number of accesses from proactive notifications of relevant events has increased significantly, increasing threefold by 2022. These proactive notifications, which can help you gain greater control over your finances, appear in the customer's app in the event of unique events such as a possible account overdraft. There are currently forty different proactive communications available, which are actionable by the customer to help them better manage their personal finances, save and plan for peace of mind.