17 January 2018
visit http://response.ncr.com

BBVA enjoys Black Friday bonanza

01 December 2017  |  5154 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  |  10892 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  |  7364 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  |  7596 views  |  0 comments | 5 tweets | 16 linkedin
Digital sales reach record high at BBVA

Digital sales reach record high at BBVA

28 July 2017  |  12705 views  |  0 comments | 19 tweets | 26 linkedin

Related company news

 

Related blogs

Create a blog about this story (membership required)
visit www.thomsonreuters.infovisit www.vasco.comvisit www.fivedegrees.nl

Who is commenting?

Top topics

Most viewed Most shared
Buffett rubbishes cryptocurrencies; South Korea preps exchange crackdownBuffett rubbishes cryptocurrencies; South...
11750 views comments | 16 tweets | 17 linkedin
Europe begins Open Banking era in subdued styleEurope begins Open Banking era in subdued...
9904 views comments | 32 tweets | 35 linkedin
Crypto mining threatened by power capacity concernsCrypto mining threatened by power capacity...
9675 views comments | 17 tweets | 18 linkedin
Exchanges call for global fintech standardsExchanges call for global fintech standard...
9382 views comments | 17 tweets | 13 linkedin
Wells Fargo to close 900 branchesWells Fargo to close 900 branches
9256 views comments | 14 tweets | 16 linkedin

Featured job

Competitive
Germany, Austria or Switzerland

Find your next job