Financial health

Before deciding to invest a portion of your savings in a company, it is crucial to find out its real value. However, knowing where to start is not easy without prior experience. To facilitate this task, here we will describe the different methods and tools financial analysts use.

With the aim of facilitating access to banking services, BBVA adapted its app in Spain for children at the end of 2022, allowing them to use functions such as mobile payments, Bizum and online purchases under parental supervision. Interested parents can open an account for their children between the ages of 0 to 17 directly on the app or at a branch. Since its launch, over 250,000 minors have signed up in Spain.

Neural networks, natural language processing, machine learning... AI is an essential partner for BBVA to help its customers manage their savings, manage their investments, analyze their consumption and plan for their next outgoings.

Social media is shaping the financial behaviors of what is known as Generation Z, those born between the mid-1990s and the 2010s. New trends are becoming popular to the rhythm of TikTok. The latest philosophy adapts to the current financial uncertainty, and brings new terms we need to learn to know what young people are talking about when they talk about money.

Students from the ‘5 Pebbles’ program visited 21 Garanti BBVA branches across Türkiye to learn firsthand about the different transactions that take place at banks. Garanti BBVA is a founding member of the Teachers Academy Foundation (ÖRAV) and has been collaborating with them to run this program since 2016.

Garanti BBVA is streamlining the loan approval process for retail customers seeking vehicle finance. Utilizing the Instant Loan from Dealer (BAK) feature, customers can swiftly complete transactions with digital document approval through Garanti BBVA Mobile app, ensuring an efficient and seamless experience.

With the aim of supporting and helping members of society to manage their personal finances, BBVA organized nearly 50 workshops and training sessions in Spain for teenagers between the ages of 13 and 15. Over the past six months, 69 bank employees volunteered for the series of initiatives, which seeks to provide young people across the country with basic tools to learn to manage their personal finances and improve their financial decisions. BBVA has helped nearly 1,000 people with the programs launched this year.

More than 60 percent of digital customers who accessed BBVA's app in Spain in 2022 used the financial health tools to manage their finances. This means that six out of ten customers are already using these tools to manage their income and expenses, their budgets or set their savings goals. The total volume of interactions with the financial health via the app reached 18.5 million at the end of 2022, an increase of 35.9 percent compared to the same period of the previous year.

A share is the smallest fraction of a company an investor can buy. The roots of this idea can be traced back to the Bronze Age. Modern concepts such as fractional shares, stock slices and stock splits have gradually added to the complexity of this financial asset over time.

BBVA has built a new experience into the Spanish app that provides customers with key insights on how to start investing. Through the 'Aprende a invertir' ('learn to invest') tool, the bank provides users with educational guidance so that they can learn about investment funds and the world of money management. This key training module will help them to start investing their savings and improve their financial health. The BBVA app displays an explanation and estimate of how inflation may affect account balances; tips on how to start investing; and a simulator so that customers can see how their investment may perform. This tool also eases access to BBVA Invest’s investment fund advisory service.

BBVA has set a huge digital challenge for itself: to go one step further in the banking services it provides and offer personalized suggestions that improve its customers’  financial health. To do so, it uses data science to identify the characteristics that define them (always with their prior consent) and therefore offer suggestions on how to manage their everyday finances, lower their debt, save or plan for the future.

With December 2021’s data, BBVA customers using its digital financial health tools now exceed 11.7 million. This is the equivalent of a 48% increase in relation to the almost 8 million customers that used these features a year ago, according to the data recently made public by the bank.

BBVA continues to emphasize its digital transformation as an essential factor in achieving its ambitious goals, presented at Investor Day. In this interview, Global Head of Client Solutions David Puente highlights how being a pioneer in digitization gives BBVA an advantage to continue growing in areas such as payments and insurance, create alliances through ‘open banking’ and, in particular, to take a new strategic leap: evolve from providing services to proactive recommendations to help customers improve their financial health and transition to a decarbonized economy.

BBVA is one of 28 banks around the world that has joined the global commitment to promote financial inclusion and the financial health of its customers. Under the umbrella of the United Nations Principles for Responsible Banking, the aim of this benchmark index is for a group of banks to join forces to accelerate a collective effort for these issues.

On Wednesday, BBVA’s CEO participated in a discussion on technology and confidence in the banking sector at the Global Banking Summit organized by Financial Times. Onur Genç explained that BBVA wants to be the bank its customers trust and help them to improve their financial health.

Through an advisory service, BBVA’s Turkish franchise aims to improve its customers’ finances, facilitating budget management and helping them meet their savings goals with personalized solutions.

Dividends are the best known and most widespread means companies use to distribute a portion of their profits to their shareholders. However, there are other ways to reward shareholders, such as share buybacks.

In a market as wide as the financial one, we can find a multitude of investors grouped within different criteria: category, objective, investment horizon, risk aversion, or the way they operate.

Valora Coches, the BBVA Group tool for customers and non-customers that helps you decide whether to change your vehicle or not, continues to grow. From its late February 2020 launch in Spain until July 2021 it registered almost two million hits and more than 900,000 vehicle searches. In March 2021, the tool reached its highest figures with 100,000 hits and 50,000 car searches.

The BBVA CEO underscored banks' advisory work as an essential element in their new customer value proposition, during his participation in the sixteenth edition of the IESE Banking Meeting, held today under the motto “Helping to boost the economy.” Onur Genç also stressed that this advice is based on the trust and knowledge of an expert, and that through the use of technology and data, banks can improve the value they deliver to clients. In addition, he dubbed climate change one of the biggest disruptions in the history of mankind and also a huge opportunity.

Garanti BBVA is a firm believer that financial health is a prerequisite for a better life. As such, monitoring the financial health of its customers has become a priority social responsibility for the bank.

“Financial health impacts more than just our wallets, it is also related to our physical health and social well-being.” This was one of the key takeaways that emerged during the closing day of the EduFin Summit 2021. In this last session, representatives of the financial industry acknowledged that it is necessary to “understand and address customers’ needs, and to even go beyond” and that, for this purpose, “digitization is a lever that will help people strengthen their finances.”

The impact of the COVID-19 crisis is laying bare existing social and economic gaps across the globe. According to a paper by the Federal Reserve Bank of New York, minority-owned businesses have a poorer financial health, and are struggling more under posed by the global pandemic.

BBVA USA continues its strong push to provide financial education opportunities in the communities it serves, despite the continuing challenge of pandemic related stay-at-home orders in many areas.

The coronavirus crisis has lead to a situation of instability and uncertainty in the markets. For investors, it’s time to keep a cool head and consult reliable, updated sources of information. On the other hand, people who would like to learn to invest while at home these days, have many different kinds of quality educational resources just a click away.

BBVA’s Group Executive Chairman participated this Monday in the presentation of 'Superpowers of Artificial Intelligence', the latest book by Kai-Fu Lee, one of the world’s most authoritative voices in the field of Artificial Intelligence. Both were invited to feature as speakers in a discussion panel and share their insights into the technological revolution and how it is reshaping society. “Through data and artificial intelligence we can improve our customers’ financial health,” said Carlos Torres Vila.

 Pillar No. 1

BBVA believes that banks play a key role in the future of society, particularly in how they address the social and environmental challenges we all face.

Carlos Torres Vila presented BBVA’s 2019 results today, “a year with record-high income” for the bank. BBVA’s Group executive chairman went over the bank’s biggest accomplishments since the presentation of the strategy in 2015 and also announced new strategic priorities. Of these, he emphasized two. On the one hand, “we want BBVA to be a trusted partner to improve our customers financial health”. And on the other, “we want to help them in the transition to a sustainable future.”