- Named as leader: BBVA USA one of just five banks named as leader in Business Insider Intelligence Mobile Banking Competitive Edge study
- Stand out functionality: BBVA USA garners first place position in both Account Management and Transfers sections of the report
- Delivering on customer wants and needs: Bank focused on building functionality that meets customer demands
HOUSTON, Nov. 12, 2019 /PRNewswire/ -- Business Insider today named BBVA USA as a leader in its Business Insider Intelligence 2019 Mobile Banking Competitive Edge study, the third year the financial and business news company has conducted the proprietary research and the second year BBVA has been evaluated.
BBVA USA was one of just five banks named as an overall leader in the research, which evaluated the banking features of the top 20 US banks. BBVA's mobile offering garnered the designation of Leader in Offering Desirable Mobile Banking Features, a title reserved for the top five. The bank's mobile app also came in first in the sub-categories of Account Management and Transfers, with titles that include Most Desirable Mobile Banking Features for Account Management and Most Desirable Mobile Banking Features for Transfers, respectively.
"Blending the best of human and digital so that customers can better manage their financial lives is an ongoing emphasis for BBVA, and I'm pleased to see that our efforts have been recognized through our award-winning mobile capabilities," said BBVA USA President and CEO Javier Rodriguez Soler. "Our mantra with mobile is that we want it to represent the bank in your pocket, so that customers can choose where, when and how they want to interact with us, with the utmost care taken to ensure that the experience is simultaneously complete and convenient."
The bank's focus on creating easy and complete experiences so that customers are better able to manage their financial futures is reflected in Business Insider Intelligence's study, as they cite BBVA's mobile app for building out greater money management capabilities and offering often poorly-supported category tools, such as the ability to change a debit card PIN and send money to people abroad.
In 2018 and 2019, the bank focused its mobile strategy on delivering customers what they most wanted, including integrated search with voice navigation. With this feature, the user simply types or voices their query, with the app automatically displaying a list of applicable functionality from which the user can select.
The bank also introduced a one-click destination to apply for BBVA's digitally available products, including checking, savings and money market accounts, CDs, credit cards and personal loans. The bank also added Financial Tools in its mobile app, giving customers the ability to aggregate external accounts from virtually any bank, analyze their expenses regardless of the source of funds (internal or external), setup and control budgets, and more.
Easy Payments and Transfers, a feature first introduced in 2015, simplifies money movement operations, by just indicating the to-and-from accounts, amount and speed, without using technical terms like Wire, ACH or P2P.
"BBVA has been focused on building its mobile app with a full complement of functionality and this honor by Business Insider Intelligence is confirmation that we have found success in those efforts," said Head of Retail Customer Solutions Development Manolo Moure. "As we move forward, our efforts will continue to be centered around building according to customer needs and wants, as well as how we can fully leverage the app to create opportunities for both current customers and prospective customers, and leverage its functionality to help people manage their financial future."
Business Insider Intelligence's Mobile Banking Competitive Edge study ranks banks according to the strength of their mobile offerings and offers analysis on what banks need to do to win and retain customers. The study is based on a September benchmark of 37 cutting-edge features the 20 top US banks offer, and a dedicated 2019 study of 2,000 US respondents on the importance they place on each of those features.
BBVA's mobile app has been consistently lauded and awarded over the years since its initial introduction, with independent research firm Javelin Strategy & Research naming the bank's mobile banking app a leader in its 2019 Mobile Banking Scorecards, the recognition marking the sixth year in a row the app has been honored by the firm.
For more financial information about BBVA in the U.S., visit bbvausa.investorroom.com.
BBVA (BBVA) is a customer-centric global financial services group founded in 1857. The Group has a strong leadership position in the Spanish market, is the largest financial institution in Mexico, it has leading franchises in South America and the Sunbelt Region of the United States. It is also the leading shareholder in Turkey's Garanti BBVA. Its purpose is to bring the age of opportunities to everyone, based on our customers' real needs: provide the best solutions, helping them make the best financial decisions, through an easy and convenient experience. The institution rests in solid values: Customer comes first, we think big and we are one team. Its responsible banking model aspires to achieve a more inclusive and sustainable society.
In the U.S., BBVA is a Sunbelt-based financial institution that operates 642 branches, including 330 in Texas, 89 in Alabama, 63 in Arizona, 61 in California, 45 in Florida, 37 in Colorado and 17 in New Mexico. The bank ranks among the top 25 largest U.S. commercial banks based on deposit market share and ranks among the largest banks in Alabama (2nd), Texas (4th) and Arizona (6th). In the U.S., BBVA has been recognized as one of the leading small business lenders by the Small Business Administration (SBA) and ranked 8th nationally in terms of dollar volume of SBA loans originated in fiscal year 2018.
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