online banking

Digital transformation: What can we learn from Spain’s BBVA bank?

UK banks are at a crossroads.

Consumers are increasingly banking online or on mobile, digital services have grown by more than 200% over the last four years, while in-branch footfall is falling 10% per year.

However, attempts to close under-used branches cause outcry, particularly in rural areas and among older customers.

In this post I’ll explain why banks must invest in customer experience as wide scale branch closures look inevitable.

Get ready for digital bank statement ads

As advertisers continue in their quest to serve more relevant digital ads, companies that can track and target audiences online are able to charge a premium. But one group that has easy access to consumers’ personal and financial information hasn’t yet done much with it: the banking industry. A new company called Cardlytics is trying to change that, by showing personally relevant ads to consumers in their digital bank statements.

It’s a practice that has a long history in the offline world. Flyers, ads and coupons are a common occurrence in overstuffed bank statement envelopes. But serving individually targeted ads alongside bills that prove their relevance is an opportunity that has many brands excited. If Cardlytics manages to avoid the dreaded privacy dilemmas that surround online targeting, expect to see many more ads coming to a banking website near you.