Form CaixaBank innovation is a distinguishing feature of its business culture, and it is present in every level of the organisation. Innovation implies maintaining a vanguard attitude and adapting to change. It is essential to its culture and key to lead the banking digitalisation. Innovation allows us to improve our competitiveness because we can identify new technologies that enable us to learn more about our clients and their needs. It helps us anticipate social changes that bring about new business opportunities.
This innovation model is cross-cutting and transparent. It also requires the commitment to an innovative and creative approach that places the client at the center. The end objective is to convert innovative ideas into projects that help us be better, allow us to interact further with our clients, to increase digital sales, to be more efficient and to manage the costs, as well as, generate greater value for the client and the entity. These projects will be tailored solutions, safe, in real time and with a multichannel approach.
CaixaBank has been internationally recognised as one of the leading entities in innovation and application of new technologies to financial services. Thus, in 2015, CaixaBank was chosen as “Best Bank in Spain” by Euromoney and by the specialised magazine Global Finance, as well as being recognised as the best bank in the world in terms of mobile banking services by Forrester Research, and the Most Innovative Bank in terms of Mobile Payment in 2015, in the 30th edition of the Retail Banker International awards. The Global Banking Innovation Awards, promoted by the Bank Administration Institute (BAI) and Finacle, have chosen CaixaBank as the most innovative bank on two occasions (2011 and 2013), and have awarded it the title of “Innovative Spirit in Banking” in November 2014. This acknowledgement is one of many other international awards given to the innovation of CaixaBank, such as the one awarded by the global retail banking association Efma.
In January 2016, CaixaBank launched imaginBank, the first mobile-only bank that uses the mobile phone as the main channel to interact with the client. The model proposed by imaginBank is ground-breaking, innovative and based on the possibilities that arise from the latest technology developments and the high penetration rate of smartphones, especially among young people. It centralises all the services in apps for mobile phones and social networks, which represents a unique approach at a global.
Due to its characteristics, imaginBank is particularly attractive for the young market, people aged between 18 and, with the profile of a “digital native” who uses the smartphone almost exclusively and is very familiar with the use of electronic tools to manage all kind of personal issues on a daily basis.
imaginBank has analised this client profile (millennial), has carried out a co-creation exercise and has define a service proposal based on the most relevant aspects for this population segment: digitalisation, innovation, mobility, simplicity, free main services, tools to manage personal finances, and safety assurance. Likewise, it uses a very simple and clear language, which makes communicating with the clients much easier. Furthermore, the imaginBank app allows us to identify yourself using a fingerprint in those mobile devices with this feature.
From a very simple and intuitive design, created for a mobile environment, the app offers a comprehensive range of products and services: intelligent services for the management of personal finances based on big data, payment methods with the trendiest technology (different card formats whether physical or virtual, P2P service,…); cash withdrawals from the ATM network of CaixaBank, financing (on-click consumer loans), discount programs in leisure and purchases and the possibility to operate from social networks (Facebook app that allows you to operate without leaving Facebook).
TV Spot ImaginBank