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Digital transformation

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THE BANK HAD ADOPTED A RESPONSIBLE DIGITISATION APPROACH TO THE DIGITAL TRANSFORMATION, GIVING PRIORITY TO PRIVACY AND PROPER HANDLING OF CUSTOMER DATA.

According to Bankia’s 2018-2020 Strategic Plan, in three years’ time two-thirds of its customers will be digital. To assist this digital transition, the bank has decided to invest more than 1,000 million euros in technology, more than half of which will be used to improve processes and channels. This transformation will be undertaken with an approach based on responsible digitisation, giving priority to privacy and proper handling of customer data.

TRANSFORMATION OF DIGITAL CHANNELS

In 2018, the bank adapted its products and services for customers to the new digital world, making improvements in the following areas:

  • Customer acquisition. The range of options available to new customers has been widened with account opening via videocall. This new system allows real-time interaction between the product acquisition systems, the customer’s device and an operator service, so that an account can be opened and products acquired in a matter of minutes. The system also performs real-time security checks and fraud detection.
  • Transaction inquiries. This service is very widely used by customers and has been enhanced through the integration of transactional systems with Big Data, so as to offer advanced visualisations based on categories and comparisons between incomings and outgoings. It also includes a search engine, which has significantly improved the user experience in finding specific account entries.
  • Payment services. Bankia is the first bank in Spain to bring together all the digital payment platforms currently available in the market by integrating the bank’s payment services with the systems of Apple, Google, Samsung, Bizum and Paypal. These integrations also use the bank’s API platform and so are ready for future developments in payments.

The transformation process has also included advances in the bank’s multichannel architecture.

In 2018 Bankia deployed the new cloud services platform, which allows it to respond swiftly and flexibly to the growing demand for funds coming from the new digital channels.

Using a hybrid cloud approach, the new platform strikes an optimal balance between the capabilities of the large public cloud providers and the advantages of proprietary resource management in a private cloud. It thus combines cost efficiency with data security and regulatory compliance.


1.000 € MILLION
OF TECHNOLOGY INVESTMENT

The Strategic Plan predicts that two-thirds of Bankia’s customers will be digital by 2020.

The cloud service is also the basis for the new API and microservice architecture, which puts Bankia in a position to meet its reporting obligations under the new European Payment Services Directive (PSD2). The new architecture allows Bankia create an Open Business ecosystem with new partners. 

Other improvements made in the channels in 2018 include sales of digital products (such as the ‘Crédito_ON’ credit card and the ‘ON Nómina’ and ‘Un&dos’ online accounts) and the creation of a mobile version of the websites for businesses. In addition, the bank has launched a Channel Development Plan, aimed at incorporating the best solutions on the market in 2019.

TRANSACTIONS THROUGH DIGITAL CHANNELS

Between the end of 2017 and the end of 2018, the volume of transactions through Bankia’s digital channels (i.e., the public website, online banking for individuals and businesses, the app and the wallet) grew 50%. Some 72% of the increase in the use of these channels is due to the increased use of the app, confirming the validity of the bank’s strategic decision to invest in this channel.

DISTRIBUTION OF TRANSACTIONS BY DIGITAL CHANNEL AT YEAR-END 2018

INCREASE IN TRANSACTIONS IN EACH CHANNEL

BIG DATA PLATFORM

Bankia has a single Corporate Big Data Analytical Platform that has been gradually built up over recent years. In 2018 the platform’s computing capabilities were extended to train artificial intelligence models and now include cloud capabilities for processing deep learning models.

The platform serves all the bank’s data scientist environments, allowing the people responsible for processes to apply the results quickly so as to offer benefits to customers.

The main features of the platform are as follows:

  • It has a centralised knowledge base with great processing power. It has more than 900 data sources and provides daily information and up to 10 years of historical records, both structured and unstructured and both internal and external.
  • It manages data in real time; resolves 25 use cases integrated with the bank’s operational systems and channels; and intercepts, enriches and processes more than 88 million transactions per month.
  • It provides advanced analytics on the data available to the people responsible for processes and currently serves the marketing, cyber security, risks, legal compliance and operations teams.
  • It obtains fast results. The management of customers’ life moments alone generates more than four million commercial actions each month.
  • It is a secure solution that is integrated with the bank’s information systems, operational systems and channels. It preserves data reliability for decision making and ensures compliance with security and privacy requirements, as well as with applicable laws and regulations.

88 Milliontransactions
processed
per month

4 Millioncommercial actions
per month

The Corporate Big Data Analytical Platform has artificial intelligence models.

APPLICATION OF ARTIFICIAL INTELLIGENCE TECHNIQUES

Bankia is applying the latest artificial intelligence techniques to automate the processes for the creation of digital products without human intervention and to replace low-value manual tasks, with the aim of having a differentiated sales proposition.

In 2018, use cases affecting important processes in the Bank’s activity went into production. The amount of effort expended in critical back-office tasks has been reduced by up to 30%.

The basis of this project is the creation of a Cognitive Platform capable of responding to multiple use cases integrated in the bank’s processes and channels, combining the best standard cognitive capabilities in the market (chatbots, image recognition, etc.) with proprietary capabilities in areas where there is scope for competitive advantage.

The platform is implemented in production and integrated in the bank’s critical processes. It includes proprietary analytical models based on deep learning techniques, artificial vision and natural language understanding.

30%
REDUCTION IN BACK-OFFICE ACTIVITIES THANK TO AI

The main outcomes were the introduction of a methodology that helps to systematically acquire and implement cognitive capabilities; the generation of a business knowledge base through continuous training; and the creation of a team of artificial intelligence experts.

In 2019 the bank will accelerate the adoption of artificial intelligence, with the aim of improving time-to-market for our customers, increasing operational efficiency and creating new digital products. The road map also envisages extending the use of these techniques to all the bank’s operations, giving priority to the most important processes.

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