He will take over as CEO from Carlos Torres Vila, who becomes chairman at year-end. Still unknown: who will run the company's U.S. bank once Genç moves up.
What the bank is doing differently with its personal financial management tools could be instructive to the many institutions that haven’t gained much traction with similar offerings.
CIT Bank and Simple recently started offering higher yields on the condition that customers make regular contributions to savings. The offers are designed to help the banks avoid rate wars, but some analysts question whether they will appeal to enough consumers.
Executives at Wells Fargo, BBVA Compass, ATB, and Banco Popular share some of the pain points they've encountered as they've implemented artificial intelligence, and how they overcame them.
BBVA Compass said on Wednesday that it was partnering with the broker-dealer Brean Capital to offer a variety of capital and investment banking services for community banks and correspondent banks.
The U.S. subsidiary of the Spanish banking giant BBVA said Friday that direct consumer loans increased 40% in the first quarter and that its digital strategy is bearing fruit.
Some investors fear BBVA is taking a big risk by getting into unsecured personal lending long after online lenders have established themselves, but bank officials argue the bank’s cost of funds and in-depth knowledge of its customers will help it to outdo the competition.
