The following is a summary of the major initiatives in the area:
- The development of the new IT platform continues as planned. Gradual implementation is expected to begin in the second quarter and will continue until the entire BBVA Compass branch network is brought online.
- BBVA Compass has implemented two systems that are worth noting due to their relevance. The first is a platform designed for commercial lending, and the second a system for the evaluation and administration of loan ratings. Both applications represent significant improvements to the processes of admission and monitoring of risk.
- BBVA Compass brand recognition continues to increase, and exceeds 2010 levels by 20%. The sponsorship agreements signed with the National Basketball Association (NBA) and several of its teams located in markets where we have most presence are the main drivers of this brand recognition growth.
- Following the strategy to increase customer loyalty, the Retail Banking Unit launched products and services that include price differentiation, financial advisory service, discounts on certain services, as well as units that are fully dedicated to customer service (more personalized and faster, and with extended hours).
- The effort to create a distribution model to pioneer the development of remote channels is paying off. The number of registered users of mobile banking services increased by over 95% last year (there are now more than 250,000 customers), while the number of hits on the website has doubled over the same period. Part of this increase is due to the release of the new remote banking application for the iPhone.