Transparent, clear and responsible communication ("TCR" communication)
The crisis has undermined people’s trust in banks, complaints about misleading information have surged and tougher regulation has been introduced in the sector on customer protection and transparency. Customers perceive that we use terms which are overly technical and difficult to understand. It is not simply a question of making sure customers are told everything - they have to be told everything in a clear way. Communicating with customers in a transparent, clear and responsible language helps them make an informed decision and is a key lever for winning back and maintaining their trust. This is why BBVA is developing a policy and working on various initiatives in order to make the bank-customer relationship “more TCR” before, during and after the contract is signed.
Education is the main strategic priority of the Group’s social programs. Within this line, three areas are distinguished:
– Financial literacy, which together with “TCR” communication is the other element that helps customers make informed decisions.
– Training for SMEs, which play an important role in the development of the country’s economicbusiness network.
– Education for social integration and training on values for children and young people..
Products with a high social impact
A great social impact is already being generated through daily activity. Think about all the people who are financed with mortgages from the Bank or the growth and employment created by companies with funding from BBVA. The Group thus has a great opportunity to design products and services with a greater social impact, taking into account customers’ needs and the context in which they live.
For more information about the goals and fullfilments of different Responsible Business Programs, visit bbvaresponsiblebanking.com