BBVA Group, a leading Spanish financial services provider, has announced the launch of a 100% digital offering in Italy. BBVA is debuting a fully digital retail banking infrastructure in the country.<\/p>\n
The concept of digital banking is getting popular among users around the world. BBVA mentioned that 38 million of the Group\u2019s clients interact with the bank through digital channels. Additionally, 62% of the users interact with the bank through the mobile app.<\/p>\n
Italy is one of the largest economies in Europe. The country is a hub to some of the leading financial firms in the region. The latest introduction of a 100% digital retail banking approach will make the entire banking process easier for the users.<\/p>\n
\u201cOur value proposition aims to bring together the product offering and strength of a traditional bank with the customer experience of a digital player. We want to bring the best of both worlds to Italy: a universal digital bank,\u201d said Onur Gen\u00e7, BBVA’s CEO.<\/p>\n
In November 2020, BBVA agreed to sell its US subsidiary to PNC in a cash deal worth $11.6 billion.<\/p>\n
BBVA has a strong presence in Italy. The bank has been present in Italy for more than 30 years through its wholesale banking business. \u201cBBVA has arrived in Italy with the goal of being the \u2018Zero Commission Everyday Mobile Bank\u2019 of reference for our customers, with a commission-free mobile banking experience, with tools that help to save and control expenses from the app in a convenient and simple way, and with financing products geared towards everyday needs, available at the click of a button and with very simple and competitive prices,\u201d said Javier Lipuzcoa, BBVA’s head of digital banking in Italy.<\/p>\n
In February 2021, BBVA announced that the bank is planning to support emerging financial technology companies. The Spanish financial services provider allocated $150 million to facilitate fintech venture fund propel.<\/p>\n