BBVA launches strategy unit for digital banking

Spanish lender BBVA has launched a unit dedicated to working on the bank's digital strategy.

Spanish lender BBVA has launched a unit dedicated to working on the bank’s digital strategy.

The new digital banking division, created as part of a larger structural reorganisation at the bank, will prioritise conversion from analogue to digital processes and the development of new business lines.

Francisco González, BBVA’s chairman, said, "The new structure will be an important factor in converting an efficient and profitable analogue bank into a digital knowledge-services business.

"After setting up the platforms, which are the foundations of our digital project, we can now accelerate the creation of new products and services for 21st century customers."

BBVA said the digital banking unit will be in charge of all commercial offerings, the lender’s multi-channel strategy, distribution model and the design of commercial and operational processes.

It will also develop new business lines by combining internal projects, such as payments system Wizzo, with the bank’s startup investments and acquisitions under BBVA Ventures.

The digital banking unit will report to Ángel Cano, BBVA’s COO.

"Customers are changing the way they relate to their banks and BBVA is anticipating this change," said Cano.

"The new structure will allow us to respond better to today’s customers and to those of tomorrow."

The larger structural changes at BBVA also involve the creation of a division for South America and the global retail business lines and the appointment of various directors to new positions.