Customers

BBVA’s commitment to its customers

We aim to be the best Bank for our customers and become the model Entity in terms of customer satisfaction.

Customer quality and experience

1) Customer insight

Customers are at the core of BBVA’s business model. Listening to our customers and understanding their needs, offering sustainable and innovative solutions, and building long-term relations based on trust, are all of the greatest priority for the Group. The challenge that BBVA has set itself is to be the most recommended Entity in all the countries where it operates.

At BBVA we have made progress over the last three years in building and implementing a global methodology based on recommendation. It is called IReNe (Net Recommendation Index), and provides us with a deep understanding of our customers across the whole Group.

Through surveys, the IReNe methodology allows us to understand BBVA’s competitive situation and our position with relation to our competitors in terms of recommendation.

The IReNe indicator by country

	Spain	Mexico	The United States	Argentina	Chile	Colombia(1)	Peru	Venezuela
Second half of 2014 compared with the second half of 2013	2	-9	21	3	7	-11	8	1

	Spain	Mexico	The United States	Argentina	Chile	Colombia(1)	Peru	Venezuela
Gap to the peer evolution. Second half of 2014 compared with the second half of 2013	2	3	-2	4	-4	14	7	-5

Moreover, BBVA has an Internal IReNe methodology that is key for providing a standard evaluation of the services considered critical for the branch network and that make a real service for the end customer possible a real service for the end customer. In this way we obtain an indicator that measures the perception that the network has of the service provided by its internal suppliers, the headquarters units. All this by way of recommendations (IReNe by Service).

2) Customers as a driver for transformation

As commented in the section on Strategic Positioning, BBVA Group is immersed in a process of transformation toward a more digital model, which is needed to address the challenges faced by the financial industry: more regulation, higher levels of transparency and accountability, and an increase in competition due to changes in customer preferences resulting from the technological revolution. The Bank’s global digital transformation strategy from the customer’s point of view means improving their experience, and not only in the purely digital world, but across all the channels. In general terms, we aim for our customers to feel that interacting with BBVA in any geographical area means a completely different experience. Processes and technology are crucial instruments for implementing this model. In 2014 BBVA strengthened its global Customer Experience area due to the relevant role this factor will have in the Group’s future digital transformation.

Thanks to the IReNe methodology, we know the assessment for each type of customer and relationship channel, so we have the elements we need to establish quality plans and integrate the customers’ priorities into the Group’s transformation projects. The effort of all the areas is geared toward boosting the plans and actions that BBVA has underway. The result is having an effect on the increase in customer satisfaction, the recommendations they make of the Bank, and thus the increase in the base of new customers and increased loyalty of current customers. In short, our aim is to create the Bank with the best digital experience in the 21st century.

Complaints and claims management

In 2014, the countries have continued to make progress in the comprehensive transformation of customer service, developing their claims and complaints management systems to achieve an optimal model, making the Bank a benchmark for quality. As we are determined to turn customer claims into opportunities to regain them, we have strengthened the channels for dealing with complaints to facilitate the process.

Transparent, Clear and Responsible Communication

To do so, the information that BBVA provides to its customers must:

• Maintain a balance between advantages and costs (transparency).
• Be easily understood (clarity).
• Help them take responsible decisions that are in their short, medium and long-term interests (accountability).

In 2014, BBVA has continued with two initiatives implemented in 2013 (TCR product leaflets and TCR contracts), and has initiated two new ones (Digital TCR and TCR Advertising Code). To obtain more information, the complete document annex can be consulted.

In 2015 the aim is to be one of the two banks with the clearest communication in the eight main geographical areas where BBVA Group operates.

Literacy

In 2014, BBVA continued with the Financial Literacy programs already underway from earlier years, while launching new initiatives:

• Financial Literacy workshops for adults.
• Financial Literacy workshops for SMEs.
• Training for businesses.
• Momentum Project, designed to support the growth of social development companies.
• BBVA also has initiatives for children and young people focused on promoting the value and importance of money in their lives and behavior, covering areas such as saving and controlling expenses. It works hard to make training content available through local websites and the social media.