Latest news with #OnurGenç
Finextra
22-05-2025
- Business
- Finextra
BBVA overhauls mobile app with AI and virtual financial coach
BBVA has overhauled its mobile app to offer faster response times and more personalisation through AI integration. 0 Artificial intelligence takes the spotlight in BBVA's app, as it allows each customer to organize the app in a different way, based on their own financial preferences. In addition to the updated virtual assistant, Blue, which is now able to answer customer questions with natural language, the app is also incorporating a new financial coach. This companion analyses the customer's financial situation and suggests specific steps they can take to help improve their personal finances. The coach makes an initial assessment of the customer's income, expenses, savings and loans and identifies opportunities for improvement. The user is the one who decides whether or not they would like to set a savings goal or cost control target. The coach suggests savings tools and ways to reduce expenses by category based on the customer's spending habits. Other features include direct access to cards and bizum for wallet-based instant payments, the ability to anticipating upcoming bills, a variety of investment funds, and a digital piggy bank to set aside goal-specific savings. '2025 marks the start of a new strategic cycle for BBVA, in which we have committed to incorporate a customer perspective into everything we do in a radical way," says CEO Onur Genç "This new app is a clear example of this. Every customer will have their own version of the app.'
Finextra
20-05-2025
- Business
- Finextra
BBVA overhauls Spanish app
BBVA is launching a new version of its app in Spain, with a unique native code that is scalable and exportable to all countries where the bank operates. 0 This content is provided by an external author without editing by Finextra. It expresses the views and opinions of the author. This technological overhaul, which includes an ambitious artificial intelligence (AI) integration, marks a turning point in digital banking. It represents a decisive commitment to personalization, with a radically enhanced user experience. The new app multiplies the benefits of being a customer: direct access to cards and Bizum to make fast, simple payments, personalized savings plans and a financial coach to help manage finances, among other new developments. '2025 marks the start of a new strategic cycle for BBVA, in which we have committed to incorporate a customer perspective into everything we do in a radical way. This new app is a clear example of this. Every customer will have their own version of the app,' said CEO Onur Genç during the presentation of the project. The most obvious change is the new look—new colors, font and style—accompanied by a technological leap that is reflected in the app's rapid response time, up to six times faster than the previous version. Another novelty is the integration of its own wallet. Customers can have access to their cards or send a Bizum to their most frequent contacts as soon as they open the app. To do so, they will have to identify themselves using the device's biometrics. This reduces the number of steps to a minimum, while maintaining the highest security standards in the market. Users can view card balances, pay or check data (PAN, expiration date and CVV). Furthermore, an innovative new discreet mode automatically hides account balances and transactions to prevent prying eyes. Artificial intelligence takes the spotlight in BBVA's app, as it allows each customer to organize the app in a different way, based on their habits. The level of personalization will be so advanced that users will be able to use Apple Intelligence technology to create a personalized design for their cards in the digital environment of the BBVA app. This feature will soon be available exclusively for Visa cards and those with iPhone 15 Pro and iPhone 16 phones. But the app goes far beyond personalization. In addition to the updated virtual assistant, Blue, which is now able to answer customer questions with natural language, the app is also incorporating a new financial coach. This companion analyzes the customer's financial situation and suggests specific steps they can take to help improve their personal finances. The coach makes an initial assessment of the customer's income, expenses, savings and loans and identifies opportunities for improvement. The user is the one who decides whether or not they would like to set a savings goal or cost control target. The coach suggests savings tools and ways to reduce expenses by category based on the customer's spending habits. BBVA se reinventa con una nueva 'app' en España, con más IA, personalizable y que incentiva el ahorro Many of these improvements that go hand-in-hand with the artificial intelligence will be available for users in the next few days, and will gradually be rolled out in the coming weeks to reach as many customers as possible. In addition, in order to improve customers' financial health, BBVA is combining these tools with new incentives to help plan day-to-day finances, anticipating upcoming bills and avoiding unexpected surprises. In addition, BBVA customers in Spain will automatically have overdraft coverage of up to €300 to pay for bills if they do not have sufficient funds in their account. The app will alert customers of the bill and offer suggestions to make the payment. All of this with the aim of helping BBVA customers acquire good financial habits that allow them to have greater control over their current and future financial benefit will be available for eligible customers who meet certain criteria. BBVA also wants its customers to feel supported when they take their first steps in investing and building savings habits. Therefore, it will offer a variety of funds designed for different customer profiles, with educational resources included, and a €300 bonus (gross) in case of negative returns the first year investing. The BBVA app also allows customers to set aside savings in a digital piggy bank. Customers can reserve whatever amount they want, separating it from their checking account. Now, BBVA will reward customers for good savings habits with a six percent bonus for customers who regularly set aside part of their income each month. At the end of every month, BBVA will reward the amount saved from their paychecks, pensions or unemployment checks with up to €20 per month for three months. These are just some of the latest updates to the BBVA app. Throughout the year, new features will be added, covering a wide range of different aspects–from energy-saving tools and insurance to new opportunities for investors.
Yahoo
30-04-2025
- Business
- Yahoo
BBVA warns of US tariff uncertainty on Mexican business
By Jesús Aguado MADRID (Reuters) - Spain's BBVA on Tuesday warned of the potential impact of U.S. tariffs on its Mexican unit and said the fallout could curb growth in loan income, although a solid performance in Spain helped the bank beat first-quarter profit expectations. BBVA and peer Santander have depended on Latin American markets to offset pressure from lower interest rates in the euro zone, but BBVA now wants to reduce its reliance on emerging markets such as Mexico and Turkey and last year made a hostile bid for smaller Spanish rival Sabadell. In the first quarter, BBVA's net profit rose 23% and beat forecasts thanks to its home market. The bank's net profit in Spain grew 43.8% while net profit in Mexico, where it makes around half its profit, fell 7.6% partly due to the depreciation of the Mexican peso at a moment when the country braces for a shift in U.S. tariffs policies. BBVA's CEO Onur Genç said the bank was not revising upwards its high single-digit outlook guidance for loan and lending income growth for 2025 in Mexico due to current uncertainty despite solid business dynamics in this country. "In a normal environment, we would have upgraded our guidance, but we need to be cautious and we need to see how things turn out in the coming weeks and months before we can certainly say that it will be a higher figure," Genç told analysts. At 0916 GMT, shares in BBVA had fallen 1.5% down compared to a decline of 0.4% at Spain's blue-chip index Ibex-35. BBVA, which shocked Spain last May when it turned hostile in its pursuit of Sabadell with a more than 12 billion euros ($12.84 billion) bid at the time, wants to create a bank with over 1 trillion euros in total assets. Spain's competition watchdog CNMC is set to approve BBVA's proposed acquisition Sabadell as early as this week and Genc said this process was expected to be resolved in the coming days. BBVA booked a net profit of 2.7 billion euros ($3.08 billion) in the January to March period, above the 2.42 billion euros expected by analysts polled by Reuters, thanks to lower impact from the renewed banking tax in Spain. Higher earnings and revenues helped BBVA lift its return-on-tangible equity ratio (ROTE), a measure of profitability, to 20.2% in the quarter from 19.7% at end-December and the bank maintained its forecast to achieve profitability levels similar to those of 2024. Overall net interest income, the difference between earnings on loans minus deposit costs, fell 1.7% year-on-year. In Turkey, net profit rose 9.7% to 158 million euros but would fall short of expectations of meeting the bank's target of a net profit of 1 billion euros by the end of 2025. In terms of solvency, BBVA managed to lift its core tier-1 capital ratio to 13.09% at end-March from 12.88% at end-December. ($1 = 0.8784 euros)
Ya Biladi
20-03-2025
- Business
- Ya Biladi
BBVA receives approval from Morocco for the acquisition of Banco Sabadell
Banco Bilbao Vizcaya Argentaria (BBVA) has received approval from Morocco's central bank, Bank al Maghrib, for the indirect change of control of Banco Sabadell's branch in the country. This approval marks the final international clearance required to complete the transaction. With all international authorizations secured, BBVA is now awaiting approval from Spanish authorities for the takeover bid. The National Commission on Markets and Competition (CNMC) is continuing its phase 2 analysis, during which commitments may be requested, but no divestment is necessary. Once this stage is completed, the operation will need to be validated by the Ministry of Economy, which may forward the dossier to the Council of Ministers. Finally, the National Securities Market Commission (CNMV) must approve the offer's prospectus. According to Onur Genç, CEO of BBVA, the acceptance period could begin at the end of June, pending the remaining approvals. If the takeover bid is successful, BBVA plans to integrate Banco Sabadell through a merger by absorption, further strengthening its position in the Spanish banking market. This final step will also require approval from Spanish authorities.
Bloomberg
18-03-2025
- Business
- Bloomberg
Europe Lacking Growth, says BBVA CEO
The Opening Trade "Europe has to get its act together in growth and in self-sufficiency," says BBVA CEO Onur Genç. On BBVA's takeover bid for rival Banco Sabadell, Genç expects a decision from the Spanish competition authority in "the next few weeks." (Source: Bloomberg)
