BBVA, the second biggest Spanish bank by assets, will enable customers to interact with the lender via online check-in social networking service Foursquare.
BBVA plans to use Foursquare as a tool to increase feedback around branch traffic flows and customer opinions.
BBVA said in a statement, "The process will be gradually extended to all the countries in which the bank operates. Through this relationship, Foursquare has become another point of contact for BBVA in the social networks, in this case combining customer interaction with physical location."
BBVA aims to encourage more customers to use its gaming site BBVA Game – designed to promote more interaction with the bank, which attracted over 37,000 players after its launch over the summer of 2012.
By using Foursquare to check-in at the bank, customers will get the chance to earn more points in BBVA Game. These points can then be exchanged for the opportunity to win prizes or tickets to events.
On the other hand, BBVA Compass – the US unit of BBVA – will, reportedly, be one of the first financial institutions in the US to launch a real-time banking service.
The technology for the service, which has been supplied by Accenture, is already in use in several parts of the world.
Most processing transactions in batch mode in the US can take up to 24 hours to appear on digital statements, according to the lender.
The move aims to cut processing costs for BBVA by as much as 20% and give the lender "a competitive advantage in the US banking industry", said Sergio Fidalgo, chief information officer for BBVA Compass.
Fidalgo said banks have been hesitant to change their core technology because switching can be risky, vulnerable to delays and disruptive for customers, adding that the new real-time banking service "is a game changer for this industry".
The new system will be implemented across BBVA Compass’ consumer and business lending and mortgage capabilities.