imaginBank, Spain’s first mobile-only bank for millennials

25 ianuarie 2016

CaixaBank creates a new banking model, which can be accessed exclusively through mobile apps. The new bank emerges on the market with a complete range of commission-free products and services, including current accounts, debit cards, consumer loans, personal finance management tools and the latest functionality in mobile and P2P payments.

The model differs starkly from the traditional multi-channel approach adopted by banks. imaginBank provides services which can be accessed exclusively through mobile applications and social networks. „This marks a radical change for the bank’s value proposition: users are able to manage their finances in a fully independent manner, with the support of „intelligent” tech tools to allow continuous monitoring of their personal finances (budgeting, controlling and sorting expenditure, direct debit records, etc.).”, according to the press release.

imaginBank customers manage their products and services via apps. Everything is run entirely on mobile devices. There is also an imaginBank website (www.imaginBank.com), but this is only provided as a source of basic information and instructions on how to become a customer.

imaginBank customers can also use CaixaBank ATMs to manage their finances and make transactions using a personalised interface. Likewise, imaginBank offers services for smartwatches, with a special application that includes an ATM and branch finder, as well as several other features.

The imaginBank mobile app can be downloaded for free from Google Play (for Android users) or from the App Store (for iOS users).

CaixaBank currently services 2.9 million customers aged between 18 and 35, with a market share in this segment of 30%, meaning one in three individuals in Spain in this age range are CaixaBank customers.

Recently, CaixaBank reaches an agreement with Samsung to include Samsung Pay in its mobile payment method offer. Thanks to this alliance, CaixaBank and imaginBank customers will be the first in Spain to benefit from the Samsung Pay service, which can be used to make purchases with a contactless credit or debit card.

CaixaBank launched its first mobile payment service, CaixaBank Pay, based on HCE technology, last September, and this agreement enables CaixaBank to enhance the range of mobile payment services offered by the bank. The bank is developing its payment method innovation strategy with the aim of incorporating the latest global trends in its offer.

Samsung Pay works in more than 70% of stores in Spain that already operate with contactless technology, amounting to over 600,000 payment terminals. The service has been tested over the last few weeks and will be offered to customers in the coming months. After the launch of the service, users can download their CaixaBank debit or credit cards on their smartphones in order to make payments.

Samsung Pay can be used in Spain on the smartphones Samsung Galaxy S6, Samsung Galaxy S6 edge and Samsung Galaxy S6 edge+.

About CaixaBank
CaixaBank is the leading financial services provider in mobile and electronic banking in Spain.The bank currently has 2.7 million customers who use the mobile service Línea Abierta Móvil on a regular basis and has over 170 million mobile transactions every month, out of which 36% involve transferring funds. The bank also offers more than 50 applications and has over 3 million downloads every year.
CaixaBank is considered one of the leading financial service providers in the mobile channel. According to Forrester’s “2015 Global Mobile Banking Functionality Benchmark”, after evaluating the applications of 41 large retail banks worldwide, CaixaBank has been selected as the top bank for mobile banking in the world.

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Adrian Vasilescu – consilier de strategie al guvernatorului BNR

„O singură provizie am făcut, de card, pentru că nu mai umblu cu banii în buzunar. Banii sunt cei mai periculoși când este vorba de răspândirea unei molimi. Am renunțat la cash. În rest, este o prostie să faci provizii. Dacă vine o molimă și nici nu știi când va ajunge, dacă ar fi să se întindă, pe cât timp să poți să faci provizii? Faci provizii pe trei săptămâni, pe patru săptămâni și mai departe?”, a spus consultantul.

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In 23 septembrie 2019, BNR a anuntat infiintarea unui Fintech Innovation Hub pentru a sustine inovatia in domeniul serviciilor financiare si de plata. In acest sens, care credeti ca ar trebui sa fie urmatorul pas al bancii centrale in 2020?
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