What is the level of commitment among Spanish financial institutions regarding the roadmap presented to the Government last week?
The sector has been working on this for many months. Our commitment is total, not only to the Roadmap to reinforce financial inclusion presented last Friday, but also to the Strategic Protocol to Reinforce the Social and Sustainable Commitment of Banking, which has been in force since July last year.
What timelines are being considered to implement a physical access point for banking services in all Spanish municipalities?
We have set a period of 12 months to execute the roadmap in the identified municipalities, all with scrupulous respect for competition regulations. For those municipalities with more than 500 inhabitants that currently do not have a financial service access point—243 municipalities—a period of six months is estimated to attend the public tenders that their city councils or public bodies may call, as well as the corresponding administrative actions for permits and authorizations. In the event that these tenders remain vacant, the roadmap contemplates a joint initiative solution to install white-label ATMs within an additional six-month period.
What universe of municipalities and population are we talking about?
The plan presented to the Treasury covers every Spanish municipality that does not have a cash access point, differentiating between municipalities with more or less than 500 inhabitants, as we believe the ideal solutions to be implemented in each case should not be the same. The plan is aimed at 1.4% of the population, approximately 660,000 people living in a municipality that does not have an in-person banking service access point. 90% of these municipalities that currently lack a cash access point did not have one in 2008 either, which was the year of maximum expansion for the branch network. Therefore, the banking sector will be present through various designed solutions where it has never been before. The goal is to cover 100% of the territory through different formulas for accessing cash.
Are you going to develop pilot experiences in any Spanish province or region in the coming months?
Both the action measures of the aforementioned Protocol and the solutions included in the roadmap will be subject to permanent monitoring and review. This ensures they are functioning properly or, if not, that an additional or complementary solution can be sought to meet the needs of each of the municipalities in question. It is important to be able to evaluate the impact of the different solutions to adjust the roadmap if necessary.
Among those considered, which formula is the most suitable for covering provinces like Burgos, which has hundreds of small municipalities without banking services or with only a single branch?
The solutions will be tailor-made; that is, depending on the needs of each municipality, one or another will be implemented, or even a mix of several. An example of this could be a small municipality in Burgos where cash access is available through Correos rural postmen. In others, a mobile branch from a financial institution could be set up.
What is the minimum financial service contemplated for a small municipality in the agreement?
The objective is to offer basic banking services, guaranteeing access to cash through a catalog of solutions based on the needs of each municipality. Among these solutions to be considered, to name a few, are branches, off-site ATMs, financial agents, Correos offices or service through their rural postmen, mobile branches, cashback agreements, or cash-in-shop… the solutions are many and varied to achieve a perfect adaptation to each municipality.
How will an aging population/clientele be served, given their increasing difficulties in understanding and using digital financial services as well as machines/ATMs?
As has been demonstrated and recorded in the Strategic Protocol to Reinforce the Social and Sustainable Commitment of Banking, the elderly are a fundamental group for Spanish banking entities. Many of the proposed solutions ensure that customers do not have to use digital tools of any kind to access financial services. A clear example is the agreement with Correos, which establishes that customers who wish to do so can request the cash they need from their rural postman. In this case, it is the postman who, through the mobile device they carry, performs the operation and provides the cash at that moment, if they have the amount, or on their next visit. When banks integrate their systems with Correos to activate this service, it will not be necessary for the customer to travel or have digital knowledge to perform the operation. Furthermore, let us remember that telephone banking remains available with preferential service and priority, personalized attention for customers over 65.
What basic profitability and social service criteria will guide the closure or reopening of rural branches from now on?
Banks, prioritizing customer service, seek the best and most efficient way to provide care. There are no fixed criteria since each case and each municipality deserves an individualized study.
After the financial restructuring experienced in recent years, is the size of the commercial banking network appropriate, or will it continue to shrink in favor of digital services?
The banking sector, like other sectors—the public sector, transport, hospitality, the music industry, and many others—adapts to new ways of interacting with its customers according to their behaviors and needs. The digital era, with the great momentum experienced after the COVID lockdown, has changed the way companies relate to their customers. However, the banking sector is not oblivious to the needs identified in certain groups that require personalized attention and in municipalities of the so-called “rural Spain,” and proof of this is its commitment reflected in this roadmap. Our entities know that the key lies in finding the perfect balance between the in-person world and remote service, ensuring that all their customers are satisfied with the access to their banking services.
Does the designed roadmap imply job creation in rural areas? What profiles will the banking sector demand?
It will depend on each entity, each municipality, and the solutions decided upon for implementation.
What will be the cost of this project, and what will be the participation of Public Administrations?
Depopulation is a cross-cutting issue that affects all of society and all services, both public and private. The response must be framed within a public-private partnership. This support can come in the form of the aforementioned tenders, but also by providing a suitable physical space for the installation of an ATM, or through collaboration to establish a cash access point in their City Halls. This project is measured by the degree of coverage and customer satisfaction.
