BBVA: Traditional retail bank embraces digital disruption

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Retail banks are threatened by a new breed of focused and fast digital firms – fintech – that offer cheaper and more tailored financial services. BBVA management saw this threat early and acted decisively to ensure it remained competitive. Telcos have much to learn from this.

Description

Format: PDF filePages: 37 pagesCharts: 18Author: Roz ParkinsonPublication Date: March 2018

Table of Contents

  • Executive Summary
  • Six lessons telcos can learn from BBVA
  • BBVA in STL Partners’ transformation index
  • Introduction
  • Why are we doing non-telco case studies?
  • General outline of STL Partners’ case study transformation index
  • How digital disruption is threatening banking
  • Retail banks rely on a two-sided business model
  • Societal changes have driven digital banking adoption
  • Challenger banks and fintechs are changing the game
  • BBVA’s story
  • Phase one: Investing in technology to catalyse change
  • Phase two: Organisational change
  • Conclusions
  • BBVA in STL Partners’ transformation index
  • Appendix

Table of Figure

  • Figure 1: BBVA is rated as “Green” (good) in the STL Partners’ Transformation Index
  • Figure 2: Retaining depositors is a vital part of retail banks’ business model
  • Figure 3: The digital banking generation gap is closing
  • Figure 4: The sharing economy has taken off
  • Figure 5: BBVA’s global presence
  • Figure 6: Telcos need to virtualise their core to deliver cloud business models
  • Figure 7: Digital experience needs to be distributed across the organisation for transformation to succeed
  • Figure 8: BBVA’s leadership team is structured to accelerate digital transformation
  • Figure 9: Traditional banks need to adopt agile processes to compete with digital-native competitors
  • Figure 10: Ecosystem markets need new business models
  • Figure 11: BBVA’s co-opetition strategy involves acquisitions, investments and open APIs
  • Figure 12: BBVA’s shares are performing well
  • Figure 13: More smart and mobile device owners in Turkey use their devices for digital banking services than any other country surveyed
  • Figure 14: Turkey leads the way in four out of seven digital banking services
  • Figure 15: Turkish respondents are the most open to automated digital banking services
  • Figure 16: Less than 60% of Turkish adults had a bank account in 2014
  • Figure 17: Turkey is an attractive emerging market for investment
  • Figure 18: BBVA is rated as “Green” (good) in the STL Partners’ Transformation Index

Technologies and industry terms referenced include: benchmarking, Business Model, case study, co-opetition, Disruption, EcoSystem, fintech, processes, technology platform, transformation, value network