Bankia : launches online fund buyer for investors to find the product best matching their profile

• Tool is available on the bank's websiteOpen in a new window, is free for customers and non-customers alike, and can be used to analyse the characteristics of the various funds sold by Bankia
• Application provides detailed information, is easy to use, and clearly sets out the features of each fund, explains digital channels director, Adriano de la Rubia
• Fund buyer can be used to directly contract funds online

Bankia has launched an online fund buyerOpen in a new window to help investors find the product that best matches their profile. The tool is available on the bank's website, is free for customers and non-customers alike, and can be used to analyse the characteristics of the various funds sold by Bankia.

'Here at Bankia, we wanted to get the best out of technology and launch services that make it easier for customers and non-customers to manage their daily affairs, boost their satisfaction, and thereby make the bank more attractive', Bankia's digital channels director, Adriano de la Rubia, explains, adding that the application 'provides detailed information, is easy to use and, above all, clearly sets out the features of each fund'.

'Our aim with this initiative is to offer people wanting to put their money into investment funds a tool that gives them more information about products in which they can invest their savings. This is particularly important in times like this with low interest rates prompting savers to increasingly turn to investment funds,' comments Pablo Hernández, Bankia Fondos' commercial director.

Initially, the application enables users to differentiate the funds offered by the bank in two ways: by risk level and category (fixed income, equities, mixed, secured, profiled, etc.).

Users can then choose up to three funds to compare. A comparison of the selected products is then generated in a fact sheet, which includes a graph of annual yields from 2012 to date. A table is also provided giving a breakdown by fund of risk level, net asset value, required minimum investment, portfolio distribution, fund assets, number of unitholders, fees, etc.

All this information can be downloaded as a pdf file. The tool can also be used to generate a link for sharing the information either by email or from any web browser.

The selection of funds chosen at the start can be altered on this screen, without having to start the process from scratch.

Detailed information

The tool includes a 'Find out more' option providing more exhaustive information on each fund. Investors can download each fund's factsheet in pdf format and view detailed and extensive general information on the product. Users can also download various documents on the fund filed with the CNMV such as KFIs (Key Facts for Investors), prospectuses, and quarterly and annual reports.

The fund buyer application's 'Can we help?' option can be used to request a call from one of the bank's advisors to answer any questions investors may have. The fund buyer also enables funds to be contracted directly online.

This service forms part of the bank's efforts to launch free cutting-edge tools of high added value for both customers and non-customers.

It is worth mentioning January's launch of a mortgage simulatorOpen in a new window and a property appraiserOpen in a new window, which can be used, respectively, to calculate the costs of a mortgage loan, including simulations of changes in interest rates or income, and obtain valuations of any property in Spain.

Other tools include Bankia ÍndicexOpen in a new window, which SMEs can use to analyse their digital competitiveness, and InveinteOpen in a new window, for businesses to identify and channel requests for state aid for innovation projects.

At the end of the first quarter, Bankia managed 14 billion euros of investment fund assets, up 10.1% year on year. This means the bank boasts a market share of 5.59%, six basis points higher than a year earlier.