BBVA has once again posted multi-billion profits, a figure that contrasts with the reality of thousands of citizens struggling to fill their shopping carts. While the entity seeks to attract investors with its results, the public watches with indignation as these organizations grow rich at the expense of a system that seems designed for them.
Financial technology at the service of margin optimization 🤖
The bank has implemented artificial intelligence algorithms for credit granting and risk management, reducing operational costs and increasing efficiency. Additionally, its app allows for automated investments and charges fees for services that were once free. All this, while branches are closed and staff is reduced, leaving many customers without in-person service and with a digital system that does not forgive a mistake.
Zero shame: this is how they proclaim themselves banking champions 😡
At this rate, the next thing will be BBVA running a prime-time ad with a happy family celebrating that the bank has earned 8 billion, while they do the math to pay for electricity. Perhaps next year they will include a bread discount coupon in the same letter announcing executive bonuses. Quite a touch of social responsibility.