José Luis Elechiguerra (BBVA): "Digitization and innovation are key factors in BBVA's profitable growth strategy."

According to Elechiguerra, BBVA's success in digital transformation reflects the bank's long-standing commitment to innovation. Digitalization has been a core component of BBVA's strategy for over a decade, during which the bank has continuously refined its value proposition. Initially, the focus was on enhancing customer service through digital channels, enabling customers to perform transactions and access products more easily. Subsequently, BBVA developed the capabilities needed to drive digital sales and acquire new customers through remote channels. Now, BBVA seeks to advise its customers, through data and artificial intelligence, so they can make the best financial decisions.

During his speech, José Luis Elechiguerra also reminded the audience of how BBVA has expanded part of its international business thanks to digitization. In October 2021, BBVA introduced a fully digital retail banking service in Italy, which has exceeded growth expectations over the past two years, “reaching more than 240,000 customers by the end of August,” he said. Additionally, the bank has invested in the entrepreneurial ecosystem by supporting newly established digital banks, such as Atom Bank in the United Kingdom, Solarisbank in Europe, and Neon in Brazil.

Over 600 artificial intelligence projects

Data and technology are key strategic priorities for BBVA, with the bank currently advancing nearly 600 data and AI projects across all its markets. "We have multiplied our projects eightfold in the last three years," noted Elechiguerra. These efforts are focused on developing a value proposition driven by data and machine learning, including the creation of predictive models to anticipate customers' future actions. This approach aims to enhance financial health advice, address sustainability concerns, transform customer relationships, and optimize processes such as fraud management. "We are in the process of building a new relationship with our customers," he said.

Digitization for older people: what BBVA is doing to be a more inclusive bank

The banking sector, and BBVA specifically, is strongly committed to extending financial services across the entire country, including rural areas, and to supporting those at risk of financial exclusion, such as the elderly. Elechiguerra outlined several measures the bank has implemented to enhance support for this group, including the introduction of a new role: a sales agent dedicated to in-person assistance and digital support. Additionally, the bank has extended its opening hours, adapted ATMs, and developed a simpler, more user-friendly app tailored to individuals over 65.