Today I had the privilege of attending, along with a select group of bloggers, the presentation of the web service BBVA Tú cuentas, in the presence of the the bank’s chariman and CEO.
I was very much surprised by the presentation and seeing the functioning of the product because the truth is that I didn’t expect to see something like this so soon here in Spain and much less from a bank. But the fact is that BBVA Tú cuentas is an very complete application for the management of personal finances and will be of great utility to its users.
There is a important differentiating factor between BBVA Tú cuentas and the rest of the applications of this kind that are available in the marketplace. In this case, the application connects to the website of the bank and that of other banks to obtain the financial information so the user doesn’t have to do it manually. Besides, the web connects with the utility companies (water, electricity, gas, …) saving us the labour of having to introduce the respective expenditures every month.
BBVA Tú cuentas complements with options of community in which a user can compare his/her financial situation with that of other groups of users representing different profiles. It also incorporates a service of recommendations of financial products, which uses the recommendation technology of Strands.
Strands is the company responsible for the development of the application and from what I observed, also responsible for defining much of the functional aspect of the site.
Now we are going to wait and see the reaction of the competition in face of this intiative. BBVA has taken the lead, we will have to see the response of Santander, Caja Madrid, La Caixa, … and also how it affects independent applications like MoneyTrackin.
More information in the blog of Strands.
