La Caixa Launches First ‘Social Networking’ Service For Private AND Personal Banking...

La Caixa Launches First ‘Social Networking’ Service For Private AND Personal Banking Customers

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La Caixa, Europe’s most innovative savings bank, has launched a service that will enable banking and asset managers to communicate with customer thus strengthening private and personal banking.

La CaixaA new model or essentially a limited ‘social network’ for private and banking customers has been developed by la Caixa. This development allowed the bank’s Private Banking to improve its target in funds managed and customer numbers to 20% by 2015.

This new model for interaction with customers coupled with innovation in banking is also set to improve the growth in Private Banking and Personal Banking.

By using the bank’s own social network, video calling and other innovative technologies will provide the banks Private Banking and Personal Banking customer’s new ways to transact with la Caixa. This system will allow managers and banking customers an opportunity to communicate without having the need to go to local branches.

These new platforms will give customers more options on how to communicate with their asset manager while continuing to ensure service excellence no matter how the customer chooses to communicate, be it in the branch, online, or mobile.

The “Wall” Leverages Video Calls and Social Features
One of the most innovative new features is the “Wall”; the first service designed for private and personal banking customers based on the social network concept. The “Wall” is a space where conversations can be held with asset managers (via written messages or videocalls) and where customers can be provided with new investment suggestions and customised portfolio tracking reports, as well as other items of interest. The interaction can only be viewed by the customer and asset manager, providing all the confidentiality and security that comes with “la Caixa”‘s online channels.

La Caixa’s new services are directed at over 38,000 Private Banking customers and 615,000 Personal Banking customers. The bank manages a total of EUR 67 billion in Personal Banking and EUR 39 billion in Private Banking. The bank is also targeting a 15% market share in Spanish private banking by 2014, which translates to a 20% growth.

Key Stats

  • La Caixa has over 38,000 Private Banking customer and 615,000 Personal Banking Customers.
  • La Caixa manages over EUR 39 billion in Private Banking and EUR 67 billion in Personal Banking.

Source: 4-traders.com

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Over the last few years, La Caixa established itself as one of the most innovative financial institutions worldwide in the digital space, particularly on mobile banking.  And the leading savings bank in Spain has done it again with this new service.  Not only it smartly targets both private and personal banking customers, it also aim to provide them with a more engaging and transparent experience and service, anytime and anywhere.

I am keen to find out more about the “wall” which might just be a somehow basic secure chat without community features (will customers be able to engage with one another?).  Again, ASB Bank and Telstra have to be right, it seems like video conferencing is -once more- a key part of this new service.

In your opinion, how innovative does this project look like?  And will this service be appealing enough to the Spanish market to help La Caixa reach its ambitious sales targets? 

Join the conversation here or on our Facebook page.

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