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Case Study – Unicaja

Unicaja Banco (UNICAJA), is the fifth bank in Spain -after its merge with Liberbank in July 31th, 2021-. It provides a full range of financial services for institutional banking, consumer banking, and wealth management. UNICAJA focus on Spanish market, with over 1.400 offices, 9.700 employees, and a volume of assets of 113.000 millions of euros.

After the merge with Liberbank, UNICAJA has identified as a critical issue, the digitalization of the bank. The need for UNICAJA to leverage digital transformation is also driven by the changing nature of Spanish consumers, with a 68% of internet users as digital banking users -having an increase of 7% from 2019-. Young generations of Spanish citizens are leading the adoption of smartphones and preferred to engage with businesses in a very different way; and different pure digital banking competitors are arriving or arising at the market.

To strengthen its presence and reach across the Spanish market, the Board of Directors of UNICAJA has concluded that they need to formulate a strategy to put digital at the core of its banking business.