09 Personalising


imaginBank: reinventing banking to serve the millennial generation

David Urbano

Some young people think they don’t need a bank: they don’t like going to branches. They also think that if they need something, they don’t have to go anywhere to buy it: the simply download it (preferably without paying). However, a large percentage of young people do believe it’s important to manage the affairs relating to their money.

What can be seen from these data, which are based on surveys carried out by Caixabank, is that a large percentage of millennials want be customers of a new type of financial institution that has not existed until now: a bank without queues and paperwork, with a simple and easy-to-use service.  imaginBank was created for them.

imaginBank is the first mobile only bank in Spain and the first in the world in that operates exclusively through cell phone and social network apps. This means that any type of enquiry or transaction can only be made on the mobile app, signifying a change in the way you plan your finances and interact with your bank. In the imaginBank model, the how, when and where are decided exclusively by the customer.

This 100% digital relationship is complemented by basic services without maintenance fees or minimum contract period conditions. The new bank, in whose design process more than 200 of the bank’s customers took part, has come onto the market with a full service offer and no fees. It includes a checking account, a bank card, consumer loans, personal finance management tools, and the latest in mobile and P2P payments.

imaginBank is a response to a clear opportunity: that of offering a different service to a section of society that values first and foremost immediacy, user-friendliness, transparency and hyper-competitive prices. In short, Caixabank has created a bank designed for the most innovative young people.

David Urbano

David Urbano

Director of the project ImaginBank from CaixaBank

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