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BBVA Compass seeks to shorten customer journey with new banking app

BBVA Compass seeks to strengthen its relationship with mobile customers with the launch of a new application that includes an action menu designed to speed up the completion of financial tasks, pushing the bank forward in the mobile space.

The “I want to…” bar the bank has added to the bottom of most screens in the app offers a menu of actions based on where consumers are on the platform and their most frequently used tools, to help customers complete tasks in fewer steps. Banks are emphasizing convenience on mobile as customers enthusiastically embrace being able to conduct financial transactions via their smartphones and tablets.

“BBVA Compass is focused on advancing our digital transformation, and digital banking, specifically mobile and online, represent banking’s future,” said Alex Carriles, director of self-service channels for BBVA Compass. “The new app allows us to improve the client’s experience which strengthens our digital relationship with them, while helping them keep them in control of their financial lives.”

Removing guesswork
The app, which replaces the previous version of the app, now also features a combined payments and transfers section called Easy Payments & Transfers. The section takes the guesswork out of determining where to go on the app to pay a credit card, transfer money to or from other banks, or even send money to family and friends using their email addresses or mobile numbers.

Offering options that emphasize convenience.

The revamped app also includes new features designed to build relationships with mobile customers. For example, upon log in, customers are greeted by their first names, rather than their user names, and receive personalized financial offers based on their individual profiles and behaviors.

Additional enhancements include the ability to enable the Bill Pay service and add payees via mobile.

The free app also shares specific details regarding mobile deposit holds, letting customers know the expected date their deposited funds will be accessible.

The addition of the “I want to …” bar to the bottom of the app seeks to offer customers a choice on how they interact with their finances.

For example, someone viewing a primary checking account can pull up the “I want to…” menu to access options to search for transactions, make transfers, deposit checks or set alerts for the viewed account.

The new features come on top of the ability to retrieve balances, review transactions, view check images, transfer funds, send money, deposit checks and manage bill payments.

The new app also aims to clarify for customers a perceived discrepancy in payments versus transfers by coupling these activities under one umbrella.

Customers now just need to determine which activity they want to complete, select source and destination accounts and set amounts and dates to complete transactions.

The app can be downloaded from app stores for iPhone and Android. A mobile Web version of the app is also available for customers using non-iPhone or Android devices.

BBVA examined how customers used its app through usability testing and behavioral analysis as part of its mobile strategy.

In May, the unit of BBVA Compass Bancshares launched a basketball-themed mobile gaming application aimed at spurring social media engagement to drive brand awareness and build client relationships.

Mobile game
The Platypi co-developed app, BBVA Hoops, was part of the bank’s embrace of a digital-first strategy. While businesses had used mobile gamification for some time, BBVA Compass set itself apart from the bank pack, by using a game to boost engagement.

“I want to” bar at bottom of app aims to abbreviate the banking journey.

“Today, customer expectations are being set by digital players outside the banking industry, like Facebook, Google and Apple,” Mr. Carriles said. “Those companies should be our digital solutions benchmark.”

Final Take
Michael Barris is staff reporter on Mobile Commerce Daily, New York