BBVA explores product sales via Amazon

BBVA explores product sales via Amazon

Spain's BBVA is exploring the potential of selling financial products on Amazon.

The initial foray will see the bank join with renowned Spanish restaurant El Celler de Can Roca on the sale of a collection of products from the Michelin three-star restaurant’s recycling project; and Rocambolesc, chocolates and sweets crafted by Jordi Roca,the confectioner of the family.

BBVA says its intention is to move into offering banking products on the platform, using the pilot project as a way to trial the functionality of Amazon as an online store front for the bank's financial services.

In a statement, the bank says: "Currently BBVA already sells close to 60 percent of its products over digital channels. Selling through Amazon would extend online sales opportunities, complementing the bank’s proprietary digital channels."

Amazon has not yet moved into selling financial services directly, and BBVA recognises that financial institutions must adapt to this way of selling."

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