MADRID, July 13, 2017 /PRNewswire/ -- BBVA has the best
mobile banking app in the world, according to Forrester Research's
latest report "2017 Global Mobile Banking Benchmark." The study,
which was published today, analyzed 53 apps from large retail banks
in 18 countries, including the U.S., the U.K., France, Brazil, Turkey, China
and Australia.
BBVA Spain's mobile banking services received a final score
of 87 out of 100 – the highest score since Forrester began the
global rankings in 2013. The result exceeds the global average (63)
by 24 points. According to Forrester, BBVA's mobile banking stands
out for its "unsurpassed functionality" with "remarkable
improvements" over the past three years.
"At BBVA, we have put our foot on the gas to integrate into our
business model all the digital advances our customers want and need
so they can make the best financial decisions for their lives. This
recognition is the best indicator that we are moving in the right
direction to lead the digital transformation of banking and create
opportunities for our customers," said Cristina de Parias, Head of BBVA Spain.
Forrester's analysis indicates that BBVA's mobile services stand
apart in categories like cross-channel guidance, where it received
the highest possible score (100). The analysis also showed the
BBVA's mobile app had the highest number of functionalities where
users can perform transactions. The report specifically points to
services like BBVA Valora, which allows you to calculate the
best price at which to rent, sell or buy a home, and BBVA's
comparison tool for pension plans, which adjusts the search based
on the customer's profile.
Aurélie L'Hostis, a Forrester analyst and co-author of this
year's report, says: "I think BBVA is really a customer-centric
bank. I think the way they developed their mobile banking services
reflects that."
Most impressive capabilities
According to Forrester, BBVA's mobile banking app "is a leader"
and provides the "most impressive money movement capabilities,"
whether payments, transferring funds or adding a new bill payee.
The report also points to the "mobile onboarding" service,
considered a next-generation functionality, which allows customers
and prospects to open a BBVA account via their smartphone.
The experts at Forrester maintain that the most digital
institutions, including BBVA, stand out for the way they allow
users to search for and purchase additional products on their apps.
These institutions use the customer's product portfolio, their
geographic location and other factors to personalize the in-app
marketing promotions and messages. "BBVA goes one step further: Its
product catalog only shows products that are relevant to the
customer's financial situation," the study says.
BBVA's app also has a groundbreaking system called "login call"
and contextualized assistance. This service allows customers using
the app with questions to call on the phone without having to
identify themselves again. Customers can get their problems solved
immediately, as the customer service agent knows exactly where the
customer is navigating within the app. According to
Forrester, other notable aspects that differentiate BBVA's app
include the possibility of cardless cash withdrawals from ATMs;
simplified access to account activity; and educational videos to
offer customers guidance on financial products.
The 2017 annual report stresses that the most successful banks
like BBVA share an iterative approach in their strategy and
execution of mobile banking services. This makes it possible to
build strong relationships between the digital business strategy
and the technology management teams, fostering a joint
technological agenda. "BBVA has epitomized the 'test and learn'
approach, having invested heavily in flexible technologies that
enable agility and increased speed-to-market. The bank also
promotes cross-functional work and processes that support open
innovation," the report indicates.
Digital sales up among increasingly mobile customers
BBVA has a team of more than 1,500 professionals in the
engineering and digital transformation area in Spain who are dedicated to developing
technological solutions for customers.
Thanks to Agile methodology, interdisciplinary groups are able
to deliver innovative technological solutions within a three-month
deadline. To do so, the teams have comprehensive information on
customers' priorities. Based on their analysis, they set goals for
new functionalities and improvements in the app.
At the end of May, BBVA had 14 million mobile customers, up 41
percent y-o-y. This confirms that customers are increasingly using
mobile services. Also, the number of people using digital channels
rose to 19.7 million, up 21 percent y-o-y. As for Spain, customers using digital channels as of
May stood at 4.1 million, up 17 percent y-o-y, with mobile clients
rising to 2.9 million, up 28 percent y-o-y.
Greater activity in mobile banking services has also translated
into significant increases in digital sales. The percentage of
digital sales continues to grow in Spain, where in the first six months of 2017,
they were 24.74 percent, compared to 13.96 percent y-o-y. Mobile
banking accounts for more than 60 percent of digital sales in the
Spanish market.
Landmark study
Forrester's 2017 global report analyzed the apps of 53 large
retail banks in countries like the U.S., Canada, Spain, France, Germany, Italy, Turkey
and Australia. The 2017 edition
assessed the mobile banking services based on 39 functionality
criteria and 15 usability criteria. As the company explains in the
report, it seeks to measure how well each feature "meets customers'
needs and helps them to achieve their goals." It is the only study
that has a scale specifically for usability, which has a 25 percent
weight in the final score.
As the subject of the study is mobile banking services,
Forrester aims for its analysis to not remain static, but adjusted
to customers' evolving needs and expectations. The company selects
the institutions it includes in the annual study based on their
innovation criteria, which can change from year to year. In this
edition, Forrester analyzed institutions in 18 countries, in
Europe (Spain, the U.K., Germany and Italy, among others), North America (U.S., Canada and Mexico), Asia
(China and India) and Oceania (Australia and New
Zealand).
For more financial information about BBVA visit:
http://shareholdersandinvestors.bbva.com
For more BBVA news visit: https://www.bbva.com
About BBVA
BBVA (NYSE: BBVA) is a customer-centric global financial
services group founded in 1857. The Group is the top bank in
Mexico; has leading franchises in
Spain, South America and the Sunbelt Region of the
U.S.; and it is the largest shareholder in the Turkish bank,
Garanti. Its diversified business is focused on high-growth markets
and it relies on technology as a key sustainable competitive
advantage. Corporate responsibility is at the core of its business
model. BBVA fosters financial education and inclusion, and supports
scientific research and culture. It operates with the highest
integrity, a long-term vision and applies the best practices.
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