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The use of Andbank’s digital channels increased by 20% in March and April

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The use of Andbank’s digital channels increased by  20% in March and April

Escaldes-Engordany, 26th May 2020 The use of digital channels by Andbank’s clients and users has risen by 20% in recent months due to the lockdown and the health prevention environment caused by the COVID-19 pandemic. In this regard, the institution’s data reveal that the increase in the number of online banking accesses has been gradual […]

Escaldes-Engordany, 26th May 2020

The use of digital channels by Andbank’s clients and users has risen by 20% in recent months due to the lockdown and the health prevention environment caused by the COVID-19 pandemic. In this regard, the institution’s data reveal that the increase in the number of online banking accesses has been gradual since the beginning of the year, although there was a higher volume in March and April due to the uncertainty of the exceptional situation.

As for the telephone banking service, it has also witnessed a rise in the number of calls during the lockdown. Calls increased by 20.2% in March with respect to February. Similarly, the dial:andbank helpline almost doubled its stock exchange trading in April in comparison with March.

In the words of Pedro Cardona, head of Andbank’s ​​technology and operations department, “in the current exceptional situation it’s been essential to use our technological developments to offer our clients as much flexibility and scalability as possible and provide a streamlined and differential service”.

The average monthly use of digital banking among the total number of clients stands at 25%. The most common operations are inquiries into account and card transactions, global assets, loans and standing orders, among others. In March and April we should highlight the substantial increase in stock market transactions, which almost doubled due to the situation on the international markets.

An average of 15.88% of the total number of operations in the digital channels were purchases of securities, while 84.12% were transfer operations.

With regard access to digital banking, more detailed analysis confirms that access via mobile phones is becoming more and more common; the device used most often to access the website is the computer (69.2%) followed by the mobile phone (27.6%), although this trend is currently being reversed.