The CEO of BBVA, Onur Genç, warns that the banking sector will succeed in competing with the new digital operators if it “hurry up” in the data management process, since its proper use will allow it to reduce its delinquency rates to zero, improve its efficiency and attract new customers.
He said that during his speech at the XV Meeting of the Banking Sector organized this Tuesday by IESE in Madrid, where he announced that more than half of BBVA’s clients in the world already use mobile channels, one of the highest percentages of the sector.
In this scenario, Genç highlights the huge investment in digital transformation that is being undertaken by the banking sector and the large amount of data that is available to entities. This information is being used to help customers but not to attract new users.
According to the official, clients are usually attached to their bank, so it is difficult for them to change entities. For their part, banks do not know how to reach new clients and how to trust those they do not know in cases such as the allocation of a credit or a mortgage.
“We have customer behavior data, and we have to use it to improve our relationship with the user, but also to make risk decisions. Because if you use the data well, the unpaid ones have to be zero, since you should not give money to people who won’t give it back to you,” Genç said.
On the way to digitalization
The manager believes that the sector must “take another step” and use technology to improve its efficiency, since the processes are not yet 100% digital and 70% of BBVA’s costs come from salaries and real estate. He believes that with the digitalization of processes, “we can cut costs a lot.”
According to the manager, if the banking sector continues to advance in digitalization, while maintaining the added value of the human part, it will be “unbeatable.” With respect to BBVA, it was known that more than half of the group’s customers already use mobile channels, which represents 28.1 million users. An objective that the entity had set after exceeding the threshold of 50% of digital clients.
The leader in mobile adoption has been Turkey, with a percentage of 66.1% of its customers, while in Spain the level of mobile adoption has been placed at 56.4%, in Venezuela at 53.3 %, in the United States in 51.9% and in Argentina in 51.3%. In Mexico, where the mobile user base represents 42% of the total, the growth rate exceeds 10% per year.
Source: dpa
