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Do³±czy³: 05 Mar 2024
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 Wys³any: Wto Mar 05, 2024 10:08 Temat postu: Santander and BBVA confront the 'bankers' Google and Amazo |
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The plan contemplates requiring clients to have fewer conditions to obtain higher remuneration in online banking than if they operate only in branches. A Google debit card. A Google debit card. Give greater profitability to the deposits of clients who operate through online banking. It is the strategy that the two main Spanish financial firms are going to bet on in the coming months: Santander and BBVA. Their objective: that the new 'bankers' Google, Apple, Amazon. do not take their place in the short term. Google, Apple and Amazon are already working to enter the banking business. The secretive plans of these three technological giants scare Spanish banks. As reported in this confidential report a few months ago, reports from senior managers in the financial sector reveal the intentions of these platforms to take over the business in the short term . These documents describe the way in which Google is already advancing in its banking customer acquisition strategy. They also emphasize that Apple and Amazon are developing plans to enter the commercial transfer market and later move into the loan and deposit market.
They pose a great threat, these internal reports warn, because they have a customer base greater than that of many financial entities in Spain. In addition, they all have enormous amounts of cash on their balance sheets, which allows them to take these types of risks without damaging their results. The offers from Santander and BBVA Given Middle East Mobile Number List the emergence of these new competitors , the headquarters of the main Spanish financial groups are already working to try to neutralize them. As El Confidencial Digital has learned from banking sources, in the case of Banco Santander offices they offer a 0.95% APR for 13 months if the payroll and some receipts are direct debited. While in iSantander (your online banking) the profitability will be the same but it will not be necessary to comply with any relationship with the entity. But the difference that can be found in BBVA and its online banking, Unoe, is greater . The one-year deposit of the first offers 1.35% APR, while in the second it is possible to obtain up to 1.45% APR .
Santander and BBVA explain to ECD that this new strategy is possible because Internet banking has a generally solvent customer profile . Also due to lower office and personnel expenses, which allows them to work with a greater margin.” The forecasts managed by the bank According to the sources consulted, the internal forecasts of traditional banking contemplate that, within five years, only 5% of interaction with customers will be carried out through branches. By those dates, they calculate, the three technology giants will have tripled the number of banking clients . Taking this into account, the strategy will be aimed not only at strengthening online banking with these offers. It will also seek to: attract young clients , explore specialized business models (private banking, consumer, payment methods...) and reinforce mobile banking and presence on social networks. Provision after provision To give an example: Pescanova has been saved by the banks, which now own the company and have refinanced it, and possibly take a haircut. That may have an 'extra cost' if the ECB thinks that this refinancing must be 'over-provisioned' .
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