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The customer at the heart of what we do

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THE BUSINESS MODEL AND THE MARKETING AND SALES PROCESS ARE BASED ON THE CUSTOMER EXPERIENCE, WHICH IS ONE OF THE MAIN FOCUSES OF BANKIA’S STRATEGY.

BANKIA IS NOT OBLIVIOUS TO THE NEW CONSUMER SENSIBILITY THAT HAS LED TO A SHIFT IN DEMAND - FROM DEMANDING QUALITY SERVICES TO DEMANDING AUTHENTIC EXPERIENCES.

The bank works to achieve a memorable experience for customers at all their touch points with the bank through authentic, transparent dialogues that leave the customer free to choose and that are sincere and close. To that end, Bankia relies on simplicity in its interactions, simple communication and agile transactions.

All this cannot be achieved without putting the customer at the centre of everything the bank does.

As a result, the bank has achieved a marked improvement in 100% of the customer experience attributes, while at the same time reinforcing its ability to attract and cross-sell to customers.

The bank’s customer experience model is based on exploring the kind of experience users want, using mapping techniques, redesigning the experience the bank offers and adapting the management model to what customers expect, so as to meet their expectations.

An essential part of this has been the process of co-creation with customers and Bankia professionals through various milestones: getting to know each professional in depth as a person, co-creating the customer relationship management model and the team management model with the professionals, giving visibility to their successes and contributions and, above all, promoting empowerment and a central role for the professionals in customer management.

In 2017, in order to learn at first hand what customers think of the services Bankia offers and detect new needs, a total of 226,065 questionnaires were administered and attention was focused closely on the results of mystery shopper studies, where employees of an independent company visit branches without notice and without identifying themselves in order to gather information about the service provided.

MYSTERY SHOPPER BANKIA VS. SECTOR

RETAIL CUSTOMER SATISFACTION INDEX

Additionally, in order to improve the listening process and increase customer satisfaction, three initiatives were launched last year within the framework of the bank’s quality function:

  • The customer’s voice by mobile phone. The bank has created a new app that serves to exhaustively monitor the customer experience at the time of purchasing a new product, both from each branch and from each regional or area head office.
  • Positioning dashboards. In 2017 a dashboard was designed that gives each branch a detailed overview of all the parameters set within the framework of Bankia’s positioning: closeness, simplicity and transparency.
  • New customer experience measurements. The results of these measurements give the bank a clearer idea of what customers expect from it, so that it can make the necessary adjustments to meet their expectations.

Bankia works to turn its professionals into customer experience experts. To do that it has started a process to certify its regional and area head offices at Lasalle IGS business school, becoming the first Spanish bank to launch such an initiative.

CUSTOMER SERVICE DEPARTMENT

The goal of the Customer Service Department (CSD), as an independent body, is to ensure, applying criteria of fairness, that customers have the best possible relationship with Bankia, on the basis of respect for applicable law and good banking practices. To do that it not only manages complaints and claims but also helps significantly in preventing problems and correcting situations that have given rise to customer dissatisfaction.

One of the main initiatives carried out by the CSD in 2017 involved improving the quality of the resolutions adopted by making them easier for internal and external customers to understand, so as to increase their satisfaction.

The CSD has also adapted and implemented a simpler, more transparent language in all its communications; and training actions have been carried out in the commercial network to improve customer incident management by the branches.

The highlights in the activity indicators in 2017 were the drop in average response time to 18 days (compared to 20 the previous year), the decrease in number of claims filed with supervisors (except for mortgage expenses) and the 1.2 point improvement in quality survey results compared with 2016.

No. of complaints received from customers 104,434
No. of complaints accepted for investigation 102,905
No. of complaints resolved in the customer’s favour 12,321
Total amount paid in compensation for customer complaints (in millions of euros) 2.65
Average response time for accepted customer complaints (days) 18

FLOOR CLAUSE REFUNDS

In January 2017, Bankia became the first bank to offer a fast-track procedure for processing applications for a refund of amounts paid in excess by customers because of interest rate floor clauses in their mortgage agreements.

Through this procedure, customers were able to recover the same amount as with a favourable court decision but without the associated costs and delays.

The procedure also benefitted shareholders, as it saved Bankia from having to pay possible court costs estimated at around 100 million euros.

The bank now considers this fast-track procedure to have been completed, as practically all the complaints submitted by customers have been resolved.

Since the merger with BMN, Bankia has maintained the mechanism already in place in BMN for managing requests for floor clause refunds.

FLOOR CLAUSE REFUNDS*

*Data as of 3 January 2018

CHART OF FLOOR CLAUSE REFUND PROCESS

RESTITUTION OF THE INVESTMENT IN THE IPO

In February 2016, one year before the floor clause procedure was put in place, Bankia established a similar procedure for reimbursing the 255,623 retail investors who purchased shares in the 2011 IPO, without their having to satisfy any additional condition and without the costs or delay of an in-court or out-of-court claim.

At 31 December 2017, a total of 2,094 civil proceedings in relation to shares purchased in the IPO or subsequently remained in progress, so the contingent liability associated with minority investors who subscribed for shares in the IPO is considered practically resolved.

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