BBVA taking digital onboarding global by the end of 2019

By Oliver Smith on 21st August 2019

Challenger Banks

Plans to add digital card, loan and mortgage applications throughout 2020.

BBVA taking digital onboarding global by the end of 2019
Image source: Gonzalo Rodríguez, BBVA’s Global Head of Customer Solutions.

Spain’s second-largest bank, BBVA, has announced plans to take its digital onboarding tech global by the end of the year.

BBVA’s customers are spread across Mexico, Colombia, Peru, Argentina, Turkey and the US, and would-be customers in all these countries will be able to open accounts without having to step into a branch in the coming months.

The tech is being deployed via Veridas, a BBVA biometric identification joint venture with Spanish startup Das-Nano.

Gonzalo Rodríguez, BBVA’s Global Head of Customer Solutions, said account onboarding would be only the start, with plans to allow customers to open payment cards, loans and mortgages throughout 2020.

“We are already working to explore new experiences for both customers and businesses, novel use cases that will dramatically change the way people pay for products and services,” he said.

While digital onboarding has rapidly become mainstream in the UK, BBVA became the first bank in Spain to offer digital onboarding in 2018 and will again be the first in some of its markets.

BBVA has been on an aggressive digital banking investment strategy since 2014, acquiring US mobile bank Simple, taking a 39% stake in the UK’s Atom Bank and the acquisition of Finnish mobile bank Holvi.

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