CaixaBank’s imagin grows 20% in new users in its first year
By Joy Dumasia
imagin, the digital services and lifestyle platform is driven by CaixaBank, Spain’s leading retail bank, which has celebrated its first anniversary since its launch as a new digital community concept, adding more than 500,000 unique users and reaching a total balance of 3.1 million imaginers. This represents a growth rate at recent highs of 20% in a single year. In the band of users over 18 years of age, growth has reached over 30% during this first year.
imagin has also increased the loyalty of those who were already imaginers. During the last year, upwards of 60% of imagin users enter the app more than three times a week. A significant volume of activity is the 23 million app accesses recorded in July 2021 in a single month, marking a record of the use of the app.
imagin’s growth comes in response to the user loyalty boosting strategy arising from creating digital, financial and non-financial services, which, unlike traditional banking, do not necessarily involve somebody registering as a banking customer. At the regional level, 32% of connections to the imagin app are made from the Community of Madrid and 29% from Catalonia.
One of the most important projects this year that has had the most significant impact on the imagin community is the recent launch of imaginChangers. This program enables imagin users to participate in digital volunteering actions through mobile devices and support charity projects with financial donations.
The imagin application develops digital products offered to meet users’ saving and financing needs at the financial level. In all cases, imagin has the critical features for the digital native public: mobile-only banking (the services are provided exclusively through the app, with no branches and no website, which solely fulfils an informative purpose), with no fees for the user and its straightforward language, especially suited to directly communicating with young people.