Design Thinking at BBVA
| Case Code: BSTR616 Case Length: 8 Pages Period: 2007-2020 Pub Date: 2020 Teaching Note: Available |
Price: Rs.300 Organization: Banco Bilbao Vizcaya Argentaria, S.A. Industry: Banking Countries: Spain Themes: Digital Transformation, Digital Disruption, Digital Ecosystem, Organizational Culture |
Abstract Case Intro 1 Case Intro 2 Excerpts
Excerpts
Design Thinking at BBVA
Having been in existence for more than 160 years, BBVA faced a challenge in creating a unified brand across all of its digital and physical properties in 11 countries, including thousands of branches. It initiated its digital transformation journey in 2007 and the same year, set up a design team to create cutting-edge financial products and services. The bank remained focused on three areas i.e., customer-centricity, collaboration, and creativity...
Challenges in Adopting DT
Even though BBVA interacted with consumers through various touch points due to its digitalization initiatives, it was a challenging task for the bank to apply DT at every touch point, innovate, and engage at a fast rate. So, before applying the DT principles, the bank had to prioritize the channels and then apply DT principles to their channels phase-wise. That was not an easy task to do within limited time and costs...
Benefits of Adopting DT
The application of a service design filter to organizational change at BBVA resulted in reducing abstraction and provision of a clear set of actionable behavior changes. It also helped BBVA to maintain the brand image of the bank in the minds of customers. By using DT, BBVA nurtured the cultural mindset of people who were working together to offer innovative solutions that fit the actual needs of BBVA’s customers, and colleagues...
Road Ahead
BBVA planned to focus on cloud technology to enable teams in different countries to work together and develop global solutions. It also aimed to improve its service availability to 99.999%. At the same time, the focus of the bank would be on agile methodologies which drove DT. Ricardo Moreno, BBVA’s Global Head of Engineering, said, “Engineering has been fundamental to BBVA’s strategy. The goal is to build a development platform that facilitates collaborative working, using agile methodologies and multi-disciplinary scrums, and enables the development of new future-facing functionality..
Exhibits
Exhibit I: A Note on Design Thinking (DT)
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