BBVA Bancomer still leads digital transformation in Mexico

'World Finance’ cited the following factors as pivotal in its decision to select BBVA Bancomer in both categories: The main challenges and obstacles in the development of digital banking, the action-oriented innovation strategy, the use of cutting-edge technology and security. Also, the magazine noted that the digital strategy that the institution has followed is successfully appealing to the group of customers that most frequently use mobile channels to interact with their financial services providers.

We want to grow our digital customer base from 5.3 to 6.5 million and the percentage of sales from 21.7% to 32%"

Hugo Nájera Alva, Head of Business Development of BBVA Bancomer, explained that the last three years have been extremely challenging for the financial institution. “Being the biggest bank, makes it really hard to lead a transformation that, ultimately, undermines the traditional way that has helped you build your current position. But thanks to the commitment of each and every member of this great family, BBVA Bancomer is creating opportunities, spearheading the transformation. And our figures, when compared to those of our competitors, are outstanding.”

Nájera indicated that the goals for 2018 are extremely clear: “We want to grow our digital customer base from 5.3 to 6.5 million and the percentage of sales from 21.7% to 32%. This year we will focus our efforts on building solutions based on smart interactions, capable of astonishing customers by anticipating what they’re thinking or helping them see opportunities they hadn’t perceived; this is why they will open an account with us, because we are capable of providing the advice they need, exactly when they need it.”

He also said that BBVA Bancomer wants to offer their customers the opportunity to fulfill their dreams, helping them make the best financial decisions that affect both their everyday lives and the most remarkable milestones in their life. “And we want to do so transparently, without friction, almost invisibly, but accompanying them at all times.”

The Bancomer Móvil app has given the bank a way to interact more closely with its customers. As of year-end 2017 the app has had 13.1 million downloads, which translates into 4.3 million mobile customers. A total of 360,000 instant cash loans and 80,000 payroll loans have been originated, all of them in compliance with the institution’s lending criteria. Also, a total of 36,000 payroll advances and 32,000 personal loans were approved, and 45,000 credit card applications were approved and 433,000 digital accounts were opened using the application.

Also, in 2017, a total of 115,000 applications from customers to increase their line of credit were processed through the app and a total of 107,000 users set up their paycheck direct deposits, without visiting a branch. A total of 15.6 million cash withdrawals were made by tapping on the green button enabled in the app and the ‘CheckUp’ functionality, which analyzes users’ financial health, was run 2.9 million times.

This year we will focus our efforts on building solutions based on smart interactions"

Three years ago, BBVA Bancomer committed to technological innovation as a way to transform the traditional financial model, break away from stereotypes and embrace a cultural change at all levels of its organization. Today, as a result of this journey, the Mexican bank is spearheading the development of a friendly, open and secure digital banking for the financial services users, all of which are compelling reasons for ‘World Finance' to recognize the institution’s impact in Mexico.