Representatives of the Government of Singapore, a beacon of innovation in Asia, and BBVA met at the institution’s headquarters in Madrid to share digital experiences and strengthen cooperation. The Government of Singapore inquired about BBVA’s digital strategy and set out its views on fintech and cybersecurity regulations.
BBVA Group Executive Chairman Francisco González hosted the welcome meeting with the Singaporean government delegation – chaired by Teo Chee Hean, Deputy Prime Minister and Coordinating Minister for National Security – as it arrived at La Vela, BBVA’s Corporate Headquarters in Madrid. The meeting was also attended by Javier Rodríguez Soler, Head of Strategy and M&A; Álvaro Martín, head economist of Digital Regulation at BBVA Research; and Álvaro Garrido, head of Information Security & Engineering Risk.
The Monetary Authority of Singapore (MAS) is promoting the development of a top-level digital financial ecosystem through major digital regulation initiatives, including regulatory sandboxes to test technological innovations. Francisco González is a member of the International Advisory Panel of the MAS and attends the panel’s annual meetings.
Regarding cybersecurity, Singapore explained its strategy, which is currently focused on strengthening critical IT infrastructures, fostering collaboration with companies and training cybersecurity experts.
Singaporean authorities expressed their interest in BBVA’s role as a link between Spain and Latin America –where BBVA can help enhance Singapore’s presence– to share the wave of disruption that Singapore is spearheading in Asia.