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Taking their cues from popular consumer brands and digital upstarts, financial institutions are modernizing their websites, ATMs, and mobile apps in hopes of creating a better digital banking experience and, ultimately, attracting and retaining more customers.
March 7 -
Capital One has acquired Adaptive Path, a well-respected web design firm, underscoring the bank's tech ambitions and the increasing importance of digital user experience in financial services.
October 6
BBVA has acquired San Francisco user-experience firm Spring Studio, in a bid to improve the look and feel of its digital banking services.
Spring Studio, which began in 2001 and has 38 employees, has helped design digital products and services for Fortune 500 brands and startups. Co-founders Bruce Randall and Sanjay Shamdasani announced the firm's new owner in a
"BBVA is on a mission to be the world's No. 1 digital bank," Randall and Shamdasani wrote. "They recognize that as the bank becomes more digital, exceptional design is not optional. It has to be at the heart of what they do and needs to be part of the organization's DNA."
The acquisition follows Capital One's purchase of digital design firm
Design is "fundamental to the success of the business," BBVA
BBVA, which stands for Banco Bilbao Vizcaya Argentaria, in Bilbao, Spain, has been recognized for its aggressive M&A pursuits in the digital arena. It acquired
Its U.S. unit, BBVA Compass Bancshares, has 672 branches in seven states including Alabama, Texas and Arizona.
