Bankinter’s digital platform, COINC, acquires 26% more users at the end of July for over 125,000

COINC, Bankinter’s fully on-line financial services portal continues to grow with vigour in 2017. At the end of July, COINC had registered 125,800 users, a 26% increase from July of last year.

Total savings managed by this on-line platform already amount to more than 1.2 billion euros, up 4% year-on-year.

These figures demonstrate that COINC’s offering is attracting more and more customers from both Bankinter and other financial institutions, as opening a COINC account does not require customers to have an account at Bankinter.

The COINC on-line platform offers customers a distinct and original way to save. Savings customers name their savings objectives using a ‘goal’ label. Furthermore, they can set a savings target, which may provide them with the motivation to reach their ‘goal’.

Based on the latest figures from COINC (which has the largest on-line savings sample statistically in Spain, analysing a balance of over 1.2 billion euros), about 68% of savings customers set up their ‘piggy banks’ for general savings. Second to this general ‘goal’ is home ownership as a main savings objective, accounting for 11% of COINC’s total savings balance. This is followed by travelling or purchasing a car or a motorbike, at 5% of the total savings balance.

COINC was launched five years ago, in 2012, as a fully on-line savings portal. In fact, it allows users to register on-line since day one. Registration only requires the account holder’s details, a copy of his or her national identity document and a picture of his or her signature.

In recent years, COINC has evolved and become a financial services platform that offers a different way of saving, with several new options such as pre-approved loans, easy expense management via mobile or PC, and the option of directly debiting bills by simply taking a picture of them. Another advantage available to COINC customers is discounts, like 4% off on purchases on Amazon.