CaixaBank's digital service ‘imagin’ reaches millions of millennials

Spain’s CaixaBank’s digital service and lifestyle platform, imagin, aimed at millennials, reached three million users by the end of 2020. The imaginers community has seen a 15% increase in users (400,000), doubling in size over the last six months since June when the platform launched its new lifestyle-focused digital community concept for young people, according to report in ATMIA .

This data strengthens imagin’s leading position as a digital financial services player, as shown in the latest study by SmartMe Analytics. The study ranks the platform as the leading app among the main neobanks and fintechs in Spain, with a market share of 14.6%.

In addition to increasing the number of new users, in recent months, over 50% of current imagin users have accessed the app more than four times a week. In the first week of January, users accessed imagin 1.4 million times, beating all previous records of use for the app.

According to imagin data, the typical customer profile is mainly represented by women (52%) with an average age of 24 years, living in a large city (62% distributed between Madrid and Barcelona).

The services and digital content for the imaginers community are organized into five major themes: music, video games, trends, technology and sustainability. The app also offers special experiences and benefits related to travel and urban mobility.

The imagin application offers a range of products to meet the savings and financial needs of young people who have entered adulthood and are starting to earn their first paycheck. In all cases, imagin has key features for millennials: mobile-only operations or services only provided through the app with no branches, and the website only serving for informative purposes; no fees for the user; and the use of clear, simple language especially tailored for direct communication with millennials.