[LifeStyle] CaixaBank turns imagin into a digital services and lifestyle platform

[#Steeven.™]

Aimed at 2.6 million young people The new image offers financial and non-financial products, including digital content and experiences.

CaixaBank transforms imagin, the leading mobile-only bank in Spain among young people, into a digital platform dedicated to creating digital services for young people, financial and non-financial. The objective is to promote the growth and loyalty of younger clients, especially interested in using new technologies in their daily lives and in their future projects.

The financial institution chaired by Jordi Gual and whose CEO is Gonzalo Gortázar has today presented the new stage of imagin, embodied in a groundbreaking corporate image, a new model of customer relations and an offer of three new mobile applications, which multiply the service proposal: imaginKids (aimed at children from 0 to 11 years old and very focused on financial education through games), imaginTeens (designed for adolescents from 12 to 17 years old, with content and services designed for young people who are beginning to need solutions for their first purchases and to start managing their personal finances) and imagin (with a complete financial and non-financial offer for users over 18 years of age), as reported by the entity.

A 2.6 million user base

The imagin business will be developed through imaginTech, a new digital business subsidiary 100% owned by CaixaBank that is chaired by Juan Antonio Alcaraz, CEO of the entity, and who has Benjamí Puigdevall as CEO.

imagin starts its activity with 2.6 million clients, including both the users of the imaginBank mobile-only bank and the clients of the children's and youth segment of CaixaBank. The prospects for expanding the customer base in the short term are high, thanks to the growth in the offer of services and the creation of various levels of linkage, which, unlike traditional banks, do not necessarily imply registration as a financial customer.

 

From mobile only bank to lifestyle community
In the presentation, Puigdevall explained the keys to the new model: "imagin takes a step forward to evolve into something far beyond a financial app. From being the leading bank in the young segment, we became a user community, with a focus on lifestyle. In this way, our relationship with customers does not start with registering with a bank account, as with any bank, but when the user decides to register with the platform by registering with their email and By downloading the application, the client will no longer only come to imagin in search of financial products, but also because of their interest in valuable content and unique experiences. "

For Benjamí Puigdevall, this radical transformation means reinforcing the commitment to innovation that has characterized imagin since its launch: "imagin first appeared in 2016 as the first mobile-only bank in Spain and the market immediately recognized it as an absolutely innovative project. During This time, Imagin has been the first bank to apply such advanced services as the customer service chatbot, at a time when there were practically no chatbots in the financial sector, or artificial intelligence to help customers finance their purchases. We believe the time has come to go one step further and bring innovation to the very heart of the business model. "

From the user's point of view, the transformation of imagin is especially visible in three aspects: the offer of products, which includes financial and non-financial services and which may vary depending on the relationship of the client; the relationship model, given that to register, it will only be necessary to download the application and register with the email; and the range of mobile applications available, which has been expanded to accompany customers since childhood with three completely new apps (imaginKids, imaginTeens and imagin), reports the entity.

All imagin applications are designed so that users are children and young people, which fundamentally determines both the user experience and the range of services and content, financial and non-financial. Hence, the imaginKids app, aimed at the youngest age group, is designed so that parents can decide when and how to use it, and it offers all its content for free, even if the family is not a CaixaBank customer.

The main axis of imaginKids is financial education. The app uses gamification techniques, aimed at promoting savings and basic financial education concepts. For example, imaginKids has a digital challenge service, through which parents can set tasks for their children to complete, with the possibility of associating rewards within the same app (for example, unlocking episodes of their favorite series, new stickers, etc.)

The app also offers entertainment resources ranging from drawing templates to mini-games, to digital "avatars" that users can customize by choosing a character, a costume, gestures or colors. Similarly, imaginBank has developed agreements with partners such as Super 3, Boing, Hiru3 and La Banda, who will collaborate by providing content and offering imaginKids users events and experiences.

 

imaginTeens: young people's first shopping experiences

The imaginTeens app for teens is also intended for direct use by young people, with resources, games and content adapted to the age group of 12 to 17 years. They include, for example, memes to share with parents or friends, craft ideas, puzzles or quizzes, as well as news and digital resources related to music or gaming and offers of experiences in collaboration with brands such as Rakuten, Meller or Original Gift. Much of this content can be enjoyed simply by registering as a user, without the need for further links.

As for financial services, the basic modality has a free family pay management tool. Parents can periodically or punctually make a transfer to the "virtual piggy bank" that their children have in the application. The child can also open savings challenges to share with their relatives or, directly, ask for money for some purpose.

The imaginTeens contractable financial offer consists of a prepaid card with activated parental control function so that parents can have full knowledge and control of the operations carried out by their child. Due to its characteristics, in no case could the minor make purchases for an amount greater than the balance of the prepaid card, but, even so, parents have the option of establishing weekly or monthly spending limits.
In the case of young holders of an imagin checking account contracted by their parents, there is the option of linking to the imaginTeens application exclusively so that the teenager can see the balance, without the possibility of carrying out operations.

 

imagin: accompanying the lifestyle and projects of young people

From being a purely banking app, the imagin application, aimed at those over 18 years of age, becomes a platform that includes financial and non-financial services, such as digital content and experiences.
Part of this offer is available to any user registered on the platform, regardless of their degree of banking. Specifically, depending on their degree of connection to imagin, three user profiles are distinguished.