When Francisco Gonzalez, Chairman and CEO of BBVA, said that “BBVA will be a software company in the future”, he crystallized the vision of a bank that has been on a transformation journey for the best part of a decade1. The journey began close to eight years ago and significant progress has since been made. Today, the Spanish bank can claim 30% of its total customer base of 51 million as digital customers – online and mobile2. Between 2011 and 2015, the number of BBVA mobile customers has grown by a factor of seventeen, while the number of overall digital customers has more than doubled. BBVA’s digital customers are also more engaged than non-digital ones – performing eleven times more transactions annually than traditional non digital Customers.
How did BBVA achieve this performance? The answer lies in its early embrace of digital transformation, with the bank among the first to recognize the impact of digital technologies. A combination of vision, governance, skills and targeted acquisitions has also played a key role in BBVA’s ongoing digital transformation.