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BBVA starts digital revolution in Germany: Do we need a 242nd bank?
BBVA is launching as a digital bank in Germany with the support of Accenture Song and relies on innovative technologies to acquire customers.
BBVA starts digital revolution in Germany: Do we need a 242nd bank?
The major Spanish bank BBVA has taken a significant step into the German market by awarding the German budget to the Accenture Song agency. This marks the start of a new era for the bank, which plans to position itself as a digital bank in Germany. The first phase of the launch campaign has already begun, which provocatively raises the question: Does Germany need a 242nd bank? The answers are complex, as BBVA brings convincing arguments for the need for another bank.
BBVA, founded in 1857 and therefore one of the oldest banks in the world, has undergone significant transformation in recent years to meet the challenges of the digital world. Through a partnership with Accenture, the bank aims to redefine itself as a customer-centric financial institution, with a focus on innovative technologies such as cloud computing, data analytics and artificial intelligence. According to the Marketing Society, this shift has not only led to significant growth, but also high customer satisfaction.
Digital success and growth
BBVA's successes in digital transformation are impressive. The bank has seen a 117% growth in new customers in recent years and reached a record profit of €8.02 billion in 2023. Almost 50 million customers now use the bank's digital channels, with over 70% of sales made this way. Most notably, the customer onboarding process has been reduced to minutes using artificial intelligence and advanced analytics. This increase in efficiency shows how BBVA can realize the benefits of digital innovation through vision and commitment.
The agency Circus Ramezani, which was founded in February, also recently acquired its first client: BRLO. Agency boss Reza Ramezani brings valuable experience from working with the beer brand BRLO and could also be a valuable support for BBVA, especially when introducing the campaign in Germany.
BBVA's overarching strategy reflects the transformative power of digital development in the banking industry. Through strategic partnerships and the use of cutting-edge technologies, the bank has not only optimized its business model but also revolutionized the way customers interact with financial services. The Germans can be curious to see how this new player will further establish itself in the banking sector.
For more detailed information about the latest developments at BBVA and its digital revolution, take a look at the reports from Campaign Germany and Marketing Society.