January-December 2013


Main highlights

After the implementation of a new technology system the previous year, 2013 was marked by significant progress in the new products and services offered by BBVA Compass. By moving from a product-focused to a customer-centric bank, the catalog has been designed to provide customers with simple solutions and user-friendly distribution channels. Four new current accounts were launched in the fourth quarter of 2013: “ClearConnect Checking”, “ClearChoice Checking”, “ClearChoice Checking for Seniors” and “ClearChoice Checking for Everyday Heroes”. They are all part of a complete redesign of this product, aimed at offering simple and transparent banking options to customers. Shortly after their launch, BBVA Compass announced a premium current account and three new savings options. As with the aforementioned accounts, these products, “ClearChoice Premium Checking”, “ClearChoice Money Market”, “ClearConnect Savings” and “ClearChoice Savings”, have been designed taking into account customers’ specific banking habits.

As regards organic growth, BBVA Compass continues to be focused on expanding into new markets in order to provide services to corporates and wealth management services. A new office was opened in the fourth quarter in Cleveland (Ohio) in order to originate and fund loans. In retail banking, BBVA Compass has developed a plan and started testing a new high-tech design for traditional branches. The first branch prototype is already in operation in Houston and construction of a second one in San Antonio began during the quarter. It is expected to be completed in the first half of 2014. The new design is a smaller branch, but with better use of the available space, and featuring technologies such as touchscreens and virtual managers.

In brand recognition, a new advertising campaign was launched to promote the brand in the United States, called “The Anywhere Banking”, which has been designed to showcase the bank’s range of operations with distinguishing features that combine simplicity with flawless execution.

Lastly, the year’s highlights in awards and recognitions were:

  • The “Celent Model Bank Award” for the entity’s banking transformation, which has been praised in the specialized press as a “radical change”, and by Celent, which recognized that the use of technology has a clear and sustainable impact on the bank’s business, increasing sales, reducing risk, improving the processes and performance, and meeting market demands. The new technological platform is being used at all of the bank’s branches and represents one of the first successful replacements of basic infrastructure undertaken by a major U.S. bank in over a decade.
  • American Banker has chosen the BBVA Compass mobile banking app as one of the 10 most advanced banking applications in terms of its functions, design and ease of use.
  • BBVA Compass was the winner of the 2013 Best in Mobile Functionality Award at the 6th annual Mobile Banking Financial Institution awards of Javelin Strategy & Research. Javelin’s scorecard compares the 25 top retail financial institutions in the U.S. in six key areas: mobile banking functionality, mobile banking accessibility, mobile banking tablet ratings, mobile banking smartphone ratings, text banking, and alert platforms. The award recognizes the range that the bank offers in mobile banking, which is one of the most comprehensive on the market.