19 March 2018
visit www.nextgenbanking.co.uk

BBVA enjoys Black Friday bonanza

01 December 2017  |  5451 views  |  1 Teenagers using Smartphone

Spain's BBVA experienced a 400% surge in sales of one-click credit products after joining in the traditionally retailer-led Black Friday discount shopping frenzy.

BBVA boarded the Black Friday bandwagon with an exclusive commission-free online-only loan offering. The banks says that from Wednesday November 22 through Friday November 24, BBVA Spain sold one of its one-click loans every two minutes, and one every three minutes during the entire Black Friday week. In early 2015, BBVA Spain made one loan per hour.

BBVA Spain’s head of business development, Peio Belaustegoitia, says: “The activity during Black Friday confirms the relevance of digital sales across different customer segments, and the existence of a space for banking products and services within opportunities traditionally reserved for the retail world."

According to preliminary results, compared to the same period of the previous year, one-click loans (preapproved) during ‘Black Friday’ week multiplied by a factor of 4.1. Furthermore, 42.6% of customers that chose this product also took out loan protection insurance.

Traditional loan requests (for non-customers or pending approval) through online channels also increased notably compared to the same period of 2016, with one request received every 1.5 minutes. The bank says that the surge in online activity did not affect branch office sales, which maintained their average daily figures.

Comments: (1)

Hitesh Thakkar
Hitesh Thakkar - FIS Payments Software and Services India - India | 02 December, 2017, 09:01

Awesome business figures by BBVA. Bank knows to drive digital sales as well as balance it with branch sales.

Be the first to give this comment the thumbs up 0 thumb ups! (Log in to thumb up)
Comment on this story (membership required)

Finextra news in your inbox

For Finextra's free daily newsletter, breaking news flashes and weekly jobs board: sign up now

Related stories

Design Thinking pays off for BBVA

Design Thinking pays off for BBVA

08 November 2017  |  11443 views  |  1 comments | 17 tweets | 18 linkedin
BBVA ports 92% of product portfolio to the mobile

BBVA ports 92% of product portfolio to the mobile

25 September 2017  |  7644 views  |  0 comments | 15 tweets | 18 linkedin
BBVA reaches over three million mobile customers in Spain

BBVA reaches over three million mobile customers in Spain

11 August 2017  |  7787 views  |  0 comments | 5 tweets | 16 linkedin
Digital sales reach record high at BBVA

Digital sales reach record high at BBVA

28 July 2017  |  13099 views  |  0 comments | 19 tweets | 26 linkedin

Related company news


Related blogs

Create a blog about this story (membership required)
visit www.ebaday.comVisit http://info.nice.comVisit www.nextgenbanking.co.uk

Top topics

Most viewed Most shared
Can banks be a threat to Big Tech?Can banks be a threat to Big Tech?
9056 views comments | 28 tweets | 39 linkedin
Indian fintech sector needs regulatory support to flourishIndian fintech sector needs regulatory sup...
8473 views comments | 9 tweets | 8 linkedin
BIS warns central banks on digital currency issuanceBIS warns central banks on digital currenc...
7243 views comments | 18 tweets | 17 linkedin
Barclays propels Coinbase into Faster PaymentsBarclays propels Coinbase into Faster Paym...
7191 views comments | 15 tweets | 29 linkedin
AI augmenting compliance processesAI augmenting compliance processes
6936 views comments | 3 tweets | 5 linkedin

Featured job

Competitive base + commission
London, UK

Find your next job