New BBVA Wallet release provides enhanced functionality and convenience

HOUSTON, June 21, 2017 /PRNewswire/ -- BBVA Compass is making it easier and more convenient for customers to manage their BBVA Compass debit and credit cards on the go with the most recent version of BBVA Wallet.

BBVA Wallet, the bank's mobile wallet with a full slate of functionality, including an up-to-the-minute view of purchases and reward balances and the ability to redeem rewards in real time, has further enhanced its features, adding Mobile Location Confirmation (MLC), underscoring the bank's focus on digital as a path to enhanced customer experience.

"This app is a homerun in terms of giving customers the convenience to manage their BBVA Compass credit and debit cards on the go," said Executive Director for Payments and Consumer Loans Jon Groch. "Our newest feature allows customers more in the way of security and access, and in combination with the features BBVA Wallet already includes, pushes it to the top of the pack."

MLC uses geolocation information being transmitted by a customer's mobile device as a means of approving debit card transactions for customers when they travel. When a customer enrolls in MLC, the bank is able to know at the time of purchase whether the cardholder's device is nearby. Groch says such technology gives customers reassurance using their debit card when they travel.

"Having your transaction turned down at the point of sale is both frustrating and embarrassing, and this is a more common occurrence when people travel," he said. "The added MLC functionality alleviates that just by having our customers do what they would anyway - carry their phone."

With the added MLC functionality, BBVA Wallet adds to an already robust set of features, some of which include transaction alerts, real-time rewards redemption and credit and debit card blocking. BBVA Wallet features can make using BBVA Compass debit or credit cards safer, more secure and rewarding.

Groch concluded, "BBVA Compass is focused on digital transformation, which is a lofty goal, but it's also worthy, because in our transformation, we are focused on providing our customers products and experiences that give them opportunities to make their future brighter and stay in control of their financial journey. BBVA Wallet helps customers do that."

For more on BBVA Wallet, click here.

To learn more about BBVA Compass, visit: www.bbvacompass.com

For more news visit: www.bbva.com and newsroom.bbvacompass.com

About BBVA Group
BBVA (NYSE: BBVA) is a customer-centric global financial services group founded in 1857. The Group is the largest financial institution in Spain and Mexico and it has leading franchises in South America and the Sunbelt Region of the United States; and it is also the leading shareholder in Garanti, Turkey's biggest bank for market capitalization. Its diversified business is focused on high-growth markets and it relies on technology as a key sustainable competitive advantage. Corporate responsibility is at the core of its business model. BBVA fosters financial education and inclusion, and supports scientific research and culture. It operates with the highest integrity, a long-term vision and applies the best practices. More information about BBVA Group can be found at bbva.com.

About BBVA Compass
BBVA Compass is a Sunbelt-based financial institution that operates 657 branches, including 342 in Texas, 89 in Alabama, 63 in Arizona, 61 in California, 45 in Florida, 38 in Colorado and 19 in New Mexico. BBVA Compass ranks among the top 25 largest U.S. commercial banks based on deposit market share and ranks among the largest banks in Alabama (2nd), Texas (4th) and Arizona (5th). BBVA Compass has been recognized as one of the leading small business lenders by the Small Business Administration (SBA) and ranked 5th nationally in the total number of SBA loans originated in fiscal year 2016. Additional information about BBVA Compass can be found at www.bbvacompass.com. For more BBVA Compass news, follow @BBVACompassNews on Twitter or visit newsroom.bbvacompass.com.

SOURCE BBVA Compass

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