: anniversary / technology special

Electronic Banking
E-services that make the difference

María Carolina Sánchez

E-banking is an undeniable advantage that has taken place thanks to technology, that not only saves you time and money, but it gives the customer more control over what he/she does with the accounts. One of the leading banks in Venezuela is BBVA Banco Provincial, whose online services are one of the most complete.
So we asked Pedro Gago, director of Electronic Banking, several questions regarding how this service differs from others.
Which added benefits do BBVA Banco Provincial offer to its online clients, apart from a good service? In other words, what makes it more competitive and attractive?
BBVA Banco Provincial (www.provincial.com) differs from its competition in at least four points.

First: We are the first bank with a telephone online banking service, based on wap 2.0 technology. In 2006 Provinet Móvil was launched, and today it registers more than 400,000 monthly transactions.
Our clients with Movilnet, Movistar and Digitel lines who wish to navigate from their mobile phones can access the Internet banking service designed especially for this. And this service, places BBVA Banco Provincial two years ahead of the Smartphone tendency.
To visit the website you can access: www.provinet.net/wapsite/3g/index.html.

Second: We have also designed payment solutions through Internet, easy to implement by virtual stores and by companies that operate through telephones.
To support our clients in the development of more sales of their products and services through our points of sale, we offer three types of payment solutions for electronic commerce and telemarketing.

These are: Virtual POS incorporated to electronic commerce solutions, Non incorporated POS and Virtual POS Call Center.
These services were designed to be implemented quickly, taking into account the international security standards.

Third: This is the only Internet banking that separates payments from public and private services, for the last seven years. Through Provinet our clients can pay in only one session Electricidad de Caracas, Cantv, Movistar, Movilnet, prepaid Digitel and Movistar Internet. Additionally, we allow clients with prepaid lines Movistar or Digitel to change the Provimillas they make with our institution for balance.

Fourth: We have an integral service to our credit card clients that offers them better facilities and convenience. Like Online balance checking and non-invoiced movements, Bank statements checking, Cadivi Balance in Internet, Traveling and Cash (we're the first bank that had this service available since 2004), Debit cards payments of your own, of Provincial third parties and from other banks; Cash advances (online cash advance credited in the account), Online requirement for additional credit card, Online assignment of credit card's passwords, Credit card change and Credit card activation.

Our clients with Movilnet, Movistar and Digitel lines who wish to navigate from their mobile phones can access the Internet banking service designed especially for this.

Is the online business profitable?

If we are talking about business as electronic commerce, there is a lot. Last year (2007) more than 80% of the credit card invoices used for electronic commerce were made in websites with international content (such as Amazon.com); the rest were used in the domestic market (such as Mercadolibre.com.ve).
Therefore, we have in Venezuela a sector of users with a potential for high consuming, who already know how to buy through Internet, but most of them buy from international websites due to economic conveniences.
On the other hand, if we define business like financial services such as selling online, there is still a long way to go until these numbers become significant. On Internet, the online requirement for financial products is done easily; however, the commitment is still done in the real world (off-line).
We have experience in the online access to life insurances through Internet; the client can require and accept his or her policy through Provinet, without going to any office, and the business volumes are just like the ones of a real office.

How well known are these services?

We estimate a market penetration of 23 percent of active users, who constantly use electronic banking, taking as a base the whole of the bancarized population.
If we measure the penetration based on the total population, it would be approximately an 8 percent.

How users' security is guaranteed and how is he/she protected from electronic fraud?

The Internet banking security at BBVA Banco Provincial is a priority. To us the trust that the client has in our service is sacred, and because of that, we have security mechanisms that have minimized Internet thefts.
As an example, we have a virtual keyboard that protects our client from viruses and spyware that try to steal sensitive data, and we also have security mechanisms associated to debit and credit cards, like the virtual padlock where the client can block and unblock the debit cards by calling the Provincial customer support line.
Our clients can also buy in bolivars their antivirus in the Blue store from BBVA Banco Provincial, with a discount for being Provincial clients so that they have secure and updated software to protect themselves from the attacks or privacy thefts.
Our work to prevent electronic theft goes beyond creating robust security mechanisms since in our website features announcements for informational talks on how to avoid become victims of fraud.

What should a user do to ensure a good online banking transaction?
Follow the security rules, the most important are the following:
Change the secret password of the debit card constantly.

●  Do not let anyone see your password when you are paying in a store by a POS terminal.

● Pay attention to your credit card and see where the cashier takes it.

● Do not let strangers help you when you use the ATMs.

● You must have an updated antivirus in your computer.

Gago concluded by saying that "the telephone banking tendency will increase the market penetration of these electronic banking services in the clients, especially in Venezuela where the mobile devices penetration is more than 85 percent.
This means more efficient services to our clients with more availability, convenience and comfort, but it also means new challenges in terms of security, a matter that BBVA Banco Provincial follows rigorously." |||