EVO Banco: Our one goal is to make our customers’ financial lives simpler

Transcript

EVO Banco is one of Spain’s key challenger banks; disrupting the national industry with a 100 percent digital banking model. Head of Disruptive Innovation and Big Data, Pedro Tomé, explains how EVO combines traditional banking with innovative technology to offer the best financial products and services to its customers; and Digital Innovation and Big Data Director, Javier Gonzalez, discusses the bank’s customer communications strategy, and its focus areas for technological development in the coming months.

World Finance: Pedro, what makes EVO Banco different in the Spanish banking market?

Pedro Tomé: I would like to start saying that EVO Banco is a traditional bank. We have bank accounts, we have loans, we have mortgages. All products and services that other competitors also have.

But some people identify or define EVO Banco like a new, neo bank. This is because we offer new products and new services, and the rapid functionalities that these kinds of new players also offer. We try to take the best of these two worlds and give that to our clients.

So we want to use the technology to help the people; we want to use this technology to make their lives easier. We are digital, we have an innovative DNA, and the clients understand how we are: that we are different from the rest.

These are more or less the points that define why we are different from the rest in the field.

World Finance: Javier – technology has transformed the way that banks interact with their customers. What’s EVO’s strategy?

Javier Gonzalez: Well, there is just one goal in our interactions with our clients, which is to make their lives simpler. Make their financials transparent. This means making better services and improving the customers experience while reducing our own inefficiencies.

We have just one physical branch, so our interaction with the client lies in our digital channels – particularly in our mobile app. And there in our app, we are bringing a high quality digital service, with a great user experience. So finally the client can do anything related with her money in an easy way.

And we want the user to be part of this. Our clients must be part of this process. We hear what they are demanding, and we have different mechanisms to interact with them.

For instance, from the very beginning we had a beta testing programme, where some early adopters gave us feedback about the new features or products in the app.

We are also leveraging the power of machine learning techniques, combining with real time solutions. So we can offer at the right moment what the user really needs.

World Finance: And what are EVO’s focus areas for the coming months?

Javier Gonzalez: Well, our main intention is to keep positioning EVO as one of the most innovative financial institutions in Spain, and also in Europe. So to achieve this goal we will continue to strengthen the bank’s digital acceleration strategy.

We also always have to offer high value financial and non-financial services. Alliances with different fintech companies are of paramount importance in this strategy. We work alongside different startups, such as our robo-adviser Finizens, or our collaborative model with Booking or Rentalcars is a very good proof of this.

We expect to keep developing our own technologies. Improve the life of our users by simplifying their relationship with money.

We are also advancing, knowing the use of biometric technology to validate transactions, that’s something that’s coming soon. So we are working on biometrics and voice to deliver and seamless, agile and secure user experience to our customers in doing whatever operation they want to do.

World Finance: Now finally, Pedro, World Finance has recognised EVO Banco as the best consumer digital bank in Spain for 2020; what does this award mean to you?

Pedro Tomé: This award represents that we are on the right track, encouraging the sector to change and to evolve. The banking sector is moving towards an update, to evolution and change. From humility, EVO Banco is driving this change. And as far as possible lead the change.

We like thinking differently, and we like doing different things. Awards like this not only acknowledge our commitment but encourage to keep us making efforts to our performance ourselves. So thank you for it, thank you for this award.