EVO is one of the largest digital banks in Spain and has been operating as Bankinter’s 100% digital bank for only four years. Its history dates back to 2012, when it was introduced as the first bank born after the great financial crisis and a Smart Banking offering with the mission to modernize people’s money management using new technologies. As of today, EVO is one of the most technologically advanced digital banks on the market and has a commercial offering designed for people who are looking for a complete financial service and do not need a physical office for their day-to-day business. John RosesBusiness and Law graduate and Executive Director of the Business and Customer Lab:
Being a digital bank today is not an element of difference in itself. Of course, most of the people reading these lines are working with a lifetime bank that also has a good online service. From EVO’s perspective, our value lies in not digitizing analogue, but working with an all-digital vision, making the services, products and experiences the customer receives much more efficient and simple.
By not dragging out major commercial or technological structures, we’ve been able to lead the way when it comes to incorporating technologies that have become standard for others years later. For example, I’m thinking of contracting or managing all products with a “one-click” philosophy, artificial intelligence systems that facilitate access to investment products that were previously only contractable for large properties, or the ability to offer omnichannel and personalized response. preventing the person from seeing a different bank depending on the channel they contacted us.
Although almost a decade has passed since the emergence of digital banking as an alternative to consider, today we are in a moment of mass adoption, accelerating after the pandemic, when millions of users around the world see that digital is digital. Banks like EVO not only did what their usual banks did, but also made it easier with more innovative and convenient services. There is only one service that cannot be digitized, and that is cash processing, for which we offer one of the largest networks of cash withdrawals and deposits in Spain, with alliances with partners such as Correos or more than 18,000 ATMs.
Digital banking has not been the business of young people, city dwellers, technology enthusiasts for a long time. Today, EVO can be the main bank for anyone who owns a mobile phone and wants a complete and quality service for any financial need they may encounter throughout their life.
At EVO we have completely redesigned our investment offer to serve two different types of customers very well. On the one hand, we know that there are many people who want to save and invest, but do not know how, that we bet on passive investment services that allow them to invest in thousands of assets worldwide. efficient and highly diversified way. On the other hand, for clients who know what they want, we have a market-leading securities trading platform in terms of experience and price.
When it comes to index management, we have several lines, but it’s true that index funds and ETFs are the stars because they offer the most competitive rate on the market and provide access to products from the world’s leading managers that stand out for their goodness. behavior and high demand among investors at the best prices on the market. Also, you only need the EVO trading account activated in less than a minute to start trading.
Both index funds and ETFs are two very convenient products to the extent that they copy the behavior of a reference index, so the cost of selecting and managing assets is much lower than active management, and diversification is more assured than buying much more. certain products. The main difference between a fund and an ETF is that the latter is publicly traded and has a net asset value at the end of the day, so it can be said to be a hybrid between a stock and a traditional fund.
To be a leading bank in index management, you need to have the tools to help customers find the solution that best suits them, as well as offering a good product catalogue. That’s why we signed an agreement with Morningstar to offer our clients an ETF search engine. With this tool, our entire ETF catalog is accessed and the client can search and even compare them graphically or technically by applying filters such as risk, profitability, composition, sustainability. Our goal is that someone who wants to invest is not overwhelmed with large sums of funds, but rather that we can adjust the photo to really suit them.
They are two different options for different investment types. Active management is more designed for investors with a certain ability to understand market opportunities, and for this we have a platform with over 15,000 assets worldwide, making it one of the best options for operating in the national or American market. In the latter, we actually offer completely free trading. And whether it’s index management, roboadvisor with smart algorithms, index funds or ETFs, we offer a form of investment that resists market volatility and delivers equal or better returns over the medium to long term.
I will add that the user experience is as important as the product when contracting, monitoring and operating your investments. Accessibility, transparency, usability and cost are the four critical features that underpin our investment platform.
The EVO Smart Fund is a two-compartment fund, one with fixed income and the other with stock, requiring no minimum investment, making it unique in the market. The new Smart Fund combines two investment policies into a single fund, thanks to the use of technology. With this application, which is diversified with 30% Europe, 35% Asia and 35% Asia, investors will be able to choose how to distribute their investments between short-term fixed income or variable income with a single finger movement from their mobile phones. % USA. .
With this fund, EVO allows each user to always choose which part of their investment to invest in more prudent or daring, giving them more room to maneuver to protect themselves in times of stress or take advantage of moments of stability. or growth of markets.
Being a digital bank provides cost efficiency that allows us to offer a zero commission policy and very competitive rates in every category in which we operate. Today, whether it’s paid accounts, mortgages, investments, etc. no matter, we are in the top 5 in Spain in our product range. Our goal is to be good enough at any product that a customer doesn’t have to jump from offer to offer. We want to be a long-term bank for our customers.
Technology is one of the most important competitive forces we have right now. In recent years, we have developed a very robust and at the same time very agile technological infrastructure to support digital innovations, whether we or other players. And of course, the world of data has become a key element not only in decision making, but also in delivering a much more personalized and real-time experience.
One of our main goals is to convey the great complexity of the technological world to the customer in an easy, friendly and uncomplicated perspective. In addition, we are committed to providing a pioneering service that enables us to go one step further in artificial intelligence technologies. For example, EVO was a global pioneer in understanding that the world of big data and artificial intelligence could be combined and voice channeled to create an intelligent assistant that truly helps a person better understand their personal finances and work with much more comfort. .
Source: Informacion
James Sean is a writer for “Social Bites”. He covers a wide range of topics, bringing the latest news and developments to his readers. With a keen sense of what’s important and a passion for writing, James delivers unique and insightful articles that keep his readers informed and engaged.