Technology and innovation

One of the main pillars of the 2010 Technology Plan is “value for the customer” and, indeed, some 80% of the budget is earmarked for projects that put this principle into practice. This ambitious technology investment plan strengthens the Caja Madrid branch network's position as the most technologically advanced in Spain, with one of the highest levels of technology expenditure per customer.

In 2008, Caja Madrid's activities in the technology area were guided by three fundamental goals: development of new products and services, control of risks and non-performing loans and technological innovation as a key differentiating factor to strengthen the current levels of efficiency and quality.

The projects carried out to enhance customer service include:

• A new service that allows customers to contract pre-approved loans directly through our complementary channels (Internet Branch, mobile telephone and self-service terminals).
• New integrated correspondence system with double-sided statement printing for customers.
• Implementation of a new passbook system, using a single physical passbook, which can be personalised in the branch's financial printer in accordance with the chosen product.
• Creation of new personalised portals for Personal Banking, Caja Madrid Pensiones and Sala Retiro, applying Web 2.0 development practices.

Technological upgrades have allowed improvements to be made in sales processes, risk management, operations and internal efficiency:

• New system to reinforce the monitoring and control of financial advice given to customers and information reported to supervisory bodies under MiFID guidelines.
• Implementation of advanced risk management models in line with Basel II.

The following projects contributed to driving the continuous technological improvement that has made Caja Madrid one of the pre-eminent financial institutions in this respect:

• Development of a security system for large transactions via the Internet Branch for Businesses, whereby a request for a second signature is sent via SMS.
• Launch of a corporate portal and a new Internet Branch with a total of 60 specially adapted services for the iPhone.
• Launch of the new Innovation Portal offering information about innovative projects and practices and encouraging staff to participate at every stage of the innovation process, from generating ideas to transforming them into marketable products and services.

Caja Madrid's concern to make all channels user friendly is clear to see. For instance, through the audio option in ATMs or the use of extra-large letters in menu displays to facilitate access by visually impaired users; and, in branches, through the deployment of large-format screens offering news, information and event listings.