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Fintech 12 Mar 2018

BBVA and Money 20/20 Asia

BBVA will be taking part in the Money20/20 Asia event in Singapore this week, with a range of involvement ranging from keynote speeches to a fintech start-up competition.

The bank engages with these conferences for a number of reasons.

Firstly, because they give BBVA a chance to understand and potentially work with those innovative businesses that are looking to reshape the future of banking. A lot of the innovations that will transform how people engage with financial services, from biometric security technology to blockchain based payment systems, are on show at these events.

Secondly, BBVA learns a lot from them which helps the bank offer its customers, clients and colleagues a better level of service. For example, there will be keynotes at Money20/20 from the likes of Grace Yin at WeChat, the Chinese super app that offers within it everything from banking services to chat to ecommerce to booking a restaurant, writing a review or hailing a taxi.

Thirdly, though, BBVA also gets to showcase some of its thinking, businesses, partners and opportunities at event like this, which helps it become a stronger organisation going forward.

For example, this year Derek White, BBVA’s Global Head of Customer and Client Solutions will be delivering a keynote in front of thousands of people on the main stage on Day 1. White’s topic will be “Can banks be a threat to Big Tech” in a provocative talk aimed at offering a different perspective on whether Big Tech will eat into banking revenues.

For BBVA, the supposed threat of the Facebooks, Amazons, Googles and Apples of the world moving into the financial services space is more of an opportunity. It prompts banks to operate in new customer and client focused, more data-driven ways where user experience, advice and smarter interactions can open up a new wealth of services and product lines.

White’s  topic will be “Can banks be a threat to Big Tech” in a provocative talk aimed at offering a different perspective on whether Big Tech will eat into banking revenues.

Also speaking in Singapore will be BBVA’s General Manager of its New Digital Businesses unit, Teppo Paavola. Paavola will be taking part in a panel discussion around the future of digital identities and how consumers and clients can be best protected. As well as the technology that underpins future identity protection, the debate will also consider issues like government backed systems, and whether blockchain can play a part.

Lastly, BBVA is also sponsoring the Money20/20 Startup pitch. It’s a competition that brings together 15 of the latest game-changing startups to battle it out to prove they have what it takes to succeed – the top startups will have the opportunity to pitch on the conference’s main stage to top leaders and global media, and will be in with the chance to win $30,000 worth of cash prizes.

BBVA will also be taking a number of the startups who have been through the BBVA Open Talent competition – the world’s biggest fintech competition – to give them exposure to other businesses and potential customers who can help their ventures take off.

Meanwhile BBVA Open Talent 2018 has also just launched, with more information and the opportunity to enter to be found here.

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