BBVA reaches global digital tipping point

BBVA reaches global digital tipping point

Spanish banking giant BBVA claims to have reached a global digital tipping point, with more than 50% of customers now accessing products and services through remote electronic channels.

The bank says that in November 2018, 26.4 million digital customers interacted with it through mobile devices, PCs and tablets, up from 22.2 million a year earlier, representing a 19% y-o-y channel shift.

BBVA's home market in Spain was the first to cross the threshold in October, 2017. Across its wider business, six of BBVA’s 10 core countries have also now passed this tipping point, with the USA, Turkey, Argentina, Colombia and Venezuela also over the mark.

BBVA’s global head of client solutions, Derek White, bills the news as a clear justification of the bank's focus on technological innovation, whether that be by investment in startups or the adoption of agile development methodologies across the business.

“Despite having known this milestone was coming for a while, it is a tremendous validation of our transformation strategy and for our colleagues to have reached it," he says. "Passing this 50% tipping point is a testament to the fact that the power of connected technology is bringing real benefits to those who bank with us, and we will continue to accelerate the amazing products and services will offer in 2019 and beyond."

Comments: (1)

Ketharaman Swaminathan
Ketharaman Swaminathan - GTM360 Marketing Solutions - Pune 04 January, 2019, 12:332 likes 2 likes

Since when has 50% digital access become a "global tipping point"? The Indian bank I profiled in Why Branch And Digital Channels Will Coexist Forever claimed that 90% of its transactions were happening on digital channels and this was two years ago.