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BBVA to open 15 new branches in Texas

Source: BBVA

BBVA USA announced today that it has received approval to open 15 new branches across Texas, the bank’s largest market in its U.S. footprint.

The branches, set to open in early 2021, underscore the bank’s 5-year strategic plan launched in early 2020, which aims to help clients improve their financial health. Adding branches at a time when digital transactions are increasing demonstrates the bank’s belief that the branch format naturally facilitates face-to-face relationships between bankers and their customers, building a deep understanding of their financial needs.

This combines the best of both worlds.

“Though COVID-19 has expedited the migration of transactions from branches to digital channels, for the short term if not longer, the fact remains that banking is a people business,” said BBVA USA Head of Retail Larry Franco. “We recognize the power of the digital channel, but have an equally strong belief that banking is not an either/or scenario. There are pivotal moments in banking that require deep understanding, and during them, our bankers will offer solutions and highlight our relevant digital capabilities. This combines the best of both worlds.”

The bank’s 5-year strategic plan is underscored by six pillars that are guiding BBVA globally, including pillar no. 1, which is focused around helping clients improve their financial health as a means to subsequently improve society’s overall health. The bank’s data-driven placement model is the enabler by which it was able to strategically expand its branch network to 15 new locations with more than 30 percent of the planned branches located in low-to-moderate income communities. All 15 new branches are positioned to create opportunities for financial success and sustainability.

To maximize clients experience, all 15 branches will feature an updated model - the traditional teller line is now a one-stop-shop Personal Banker bar where customers can sit while the same team member that processes your transaction can originate a new account and teach customers about the bank’s latest digital capabilities. All branch bankers also have data-driven customer insights to provide personalized recommendations based on the customer’s transactional behavior and relationship.

Branches will also feature a dedicated area for bankers to proactively contact our customers about the bank’s latest product or provide a recommendation based on their unique financial situation. For interested customers, there is no need to come to the branch, as all bankers are trained to guide the customer through originating the account via the BBVA Mobile Banking app.

…this will not change in a post-pandemic world

“Branches are more than a place to conduct transactions, and engaging customers digitally is integrated into the branch experience - more than simply transaction takers, our bankers have become technology facilitators and advisors,” said BBVA USA Relationship Model Discipline Leader Cody Sparks. “Ultimately, we are people serving people, whether that means acting as a trusted advisor or helping our clients understand the latest in technology. We see branches as fully complementary to our digital strategy, and this will not change in a post-pandemic world.”

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