BBVA Groups Up With Telefónica to Supply Client Loans in Columbia

BBVA introduced on Thursday it has teamed up with Telefónica to develop a shopper mortgage enterprise, Movistar Cash, in Columbia. The duo famous that Movistar Cash will promote loans to greater than 19 million Telefónica purchasers positioned within the nation.

“The brand new firm will profit from each companions’ expertise and belongings within the Colombian market and can harness BBVA’s intensive data of the monetary enterprise and Telefónica’s technological gross sales energy. The settlement additionally foresees the event of digital gross sales channels and operations to assist native purchasers get to know the brand new mortgage merchandise.”

BBVA additional defined that Movistar Cash could have a administration crew within the nation to coordinate the gross sales and monetary insurance policies and know-how with each companions of the three way partnership. Whereas sharing extra particulars concerning the collaboration, Fabio Bruggioni, Director de World Client of Telefónica, said:

“This settlement and the launch of Movistar Cash companies in Colombia is consistent with Telefónica’s technique to diversify its enterprise and foster innovation within the digital world, enriching the portfolio of merchandise supplied to the corporate’s buyer base.”

Jordi García Bosch, Head of New Companies and Technique in Purchasers Options at BBVA, additional revealed:

“BBVA goals to supply one of the best monetary services and products to Colombian purchasers, with a novel proposal in Colombia that’s the fruit of BBVA’s management in digital banking. This settlement represents a lift to our technique to proceed rising and reaching new prospects by agreements with main gamers of their sectors, like Telefónica.”

BBVA added that it and Telefónica carried out a business pilot for six months in Colombia, which confirmed the potential for this kind of loans within the native market, amongst a base of over 300,000 Movistar Colombia prospects.