BBVA

Focusing on digitalization has helped BBVA achieve both an increase in revenues, through rapid growth in their customer base, and greater savings, through leaner operations

Key facts

• BBVA¹ is a diversified Spanish banking group operating in retail banking, asset management, private banking and wholesale banking.
• Founded in 1857, BBVA is currently among the 50 biggest banks worldwide (by assets under management) and has an employee base of 138,000.
• BBVA’s revenues have been growing at a CAGR of 9.3% since 2012, increasing from €13.3 billion to €17.0 billion in the year to September 2015, with net profits of €2.4 billion.

Uniqueness

• BBVA is focused on providing its customers with a new, enhanced customer experience with the help of knowledge-driven personalization and communication in clear, concise language.
• The bank has been recognized as a digital leader, setting up a big-data technology platform and fully re-engineered processes, promoting a change-driven culture and developing a leaner organization.
• BBVA is striving to become the best knowledge-based bank, using data analytics to develop customer insights and meet their needs.

Value

• BBVA is ranked number one in customer satisfaction in Spain, both in mobile and online banking.
• Active digital customers grew from 5 million in December 2011 to more than 13.3 million in mid-2015; active mobile technology users increased from 0.3 million to over 6.7 million over the same period.
• BBVA achieved an 8% reduction in costs, saving €340 million, for its corporate center in Spain. Its digital platform has enabled it to increase the transactions it process, from 90 million a day in 2006 to 250 a day in 2013.

Approach

• BBVA started building the technological platform that underpins its ability to capture, store and process data as early as 2007. Since then, it has doubled its systems investments from €1.2 billion to €2.4 billion in 2013. Focused on attracting the right digital talent, BBVA Invested €40 million a year in the selection and training of its workforce. It has also built an e-learning platform that has delivered 3 million hours of courses.
• It has bundled digital banking services into the “Digital Banking Area” accelerating BBVA’s digital transformation.
• BBVA Venture’s €100 million fund and its M&A strategy focused on FinTech companies has helped the bank accelerate its digital transformation process. 

Footnote
Sources: BBVA; WEF / Accenture Analysis