A major superstore chain is making waves in the world of fintech news this week, lending to some interesting developments for an Oakland-based startup.
19 Jul 2018
Since June, asset management customers of BBVA in Switzerland can go online to contract any type of financial asset adapted to their risk profile. With “Click & Trade,” the bank advances its digitalization process, providing solutions that address its customers’ needs.
12 Jul 2018
BBVA Colombia has been recognized as the best bank in the country by Euromoney magazine, thanks to the progress made in the digital transformation process that the institution launched a few years ago. Other reasons cited by the publication that merited the award include the expansion of the institution’s digital customer base, its financial results and its solid market position.
11 Jul 2018
The world of business is constantly coining new terms to name and categorize emerging concepts, ideas, technologies and activities that existing words struggle to convey. In this article we’ve assembled a list of relevant neologisms that will help you keep up with what’s happening in the field of digital innovation.
10 Jul 2018
BBVA keeps making headway in its transformation to become a fully digital organization. Madrid hosted a new quarterly global planning meeting where the company confirmed its commitment to materialize over 160 projects.
28 Jun 2018
27 Jun 2018
Head of Strategy and Business Development of Global Finance at BBVA
26 Jun 2018
“I love food and I am mad about sports.” Hearing him talk about his hobbies, Jaime Sáenz de Tejada (Madrid, 1968) comes across as someone who enjoys life. As a kid he was into basketball and track and field. Later, he got interested in paddle tennis and golf. About a year and a half ago he fractured his thigh bone forcing him to focus a bit more on swimming and cycling. He defines himself as a lover of Peruvian cuisine, because it offers “the best fusion of sensitivities from many places, with ingredients of unparalleled quality.” He’s even given cooking chifa (a fusion of Peruvian ingredients and traditions with Cantonese elements) a go, but “being surrounded by so much talent, I would never dare to compete in culinary skills.” Married and with five children – “one of them is on his way to becoming a chef, just like his mom,”- he’s been a part of BBVA for more than 25 years. In 2014 he became the Group’s Chief Financial Officer. He devotes most of his scant free time to “living his children’s education intensely and sharing activities with them.” He’s been lucky to live in New York – at two different periods – , London, Uruguay and Peru.
Using a smart contract will always make sense when there is a defined workflow that needs to be managed according to certain rules or to ensure the fulfillment of certain previously agreed conditions.
20 Jun 2018
Two years ago, when BBVA defined its company purpose —to bring the age of opportunity to everyone— it also decided that the best way to reach this ambitious goal was to transform itself into an agile organization. Ricardo Forcano, BBVA’s Global Head of Talent & Culture, addressed more than 1,700 participants at the National Human Resources Congress where he shared the milestones of a journey that has revolutionized the way BBVA works.
The two companies have just used the blockchain technology to renew a credit line worth €325 million, the first initiative of this collaboration.
19 Jun 2018
18 Jun 2018
BBVA CEO Carlos Torres Vila opened the seminar in Santander organized by the International Menéndez Pelayo University and the Spanish Association of Economic News Journalists (APIE), which this year puts the spotlight on blockchain. BBVA’s CEO lauded digital transformation as a way to improve people’s lives. Additionally, he released the news that in May, BBVA’s digital sales reached 40% of the total, and that the Group will begin testing the negotiation and contracting of syndicated loans using blockchain. Finally, he stated that technological development fosters long-term economic progress and social well-being, which requires collaboration between public and private institutions.
15 Jun 2018
Mexico’s BBVA Bancomer is the Group’s first bank to adopt the globally developed mobile banking platform. It will be gradually rolled-out across the rest of the countries where the Group operates, providing a speed-to-market advantage.
11 Jun 2018
Can Big Tech take the place of banks in the financial services sector? According to Francisco González in his op-ed article in today’s edition of Financial Times, while the Big Tech’s threat is widely known, digitization opportunities for some banking institutions are less evident. BBVA Group Executive Chairman is confident that “we have what it takes to redesign banking and to bring about the next stage of this industry’s evolution.”
08 Jun 2018
Digitalization is revolutionizing financial services, with the PSD2 directive speeding up the transformation. What role will traditional banks, fintech, and tech giants play in this new environment?
07 Jun 2018
BBVA has launched a pioneering training model that facilitates the exchange of knowledge between professionals thanks to a token-based initiative.
04 Jun 2018
Consumer habits have changed. Users are increasingly demanding and want services that understand and meet their needs in the moment. How do banks adapt to this new paradigm? Eugenia Gibbons, the Global Head of Digital Sales and Customer Engagement BBVA, explained during the Adobe Summit 2018 that the key lies in creating one-click, intelligent and customized products.
23 May 2018
BBVA Group Executive Chairman Francisco González thinks it is necessary to establish “a new global regulation,” one that could benefit society as a whole with all the opportunities the digital era has to offer. “We are living an unprecedented revolution, that could bring a never-before-seen level of well-being if we manage to make progress in a new legal architecture,” he pointed out during a meeting at the Institute of International Finance (IIF) in Brussels.
Around the 1960s the U.S. Army coined the name soft skills to refer to abilities other than those involved in working with machines. Military instructors realized the need for other abilities in the profesional development of its technicians and engineers.
Technology serves to create opportunities and also solve problems in the public sector. However, because of its many peculiarities, the pace of innovation is different, and its implications are more profound.
22 May 2018
In light of the digital revolution and the arrival of fintechs, financial entities need new employee profiles with mathematics and engineering. These professionals are in short supply, and so the commitment to training, both internally and in collaboration with universities, is increasingly important.
21 May 2018
BBVA Bancomer has been crowned as the most innovative bank in Latin America in this year’s edition of British publication Global Finance’s The Innovators 2018 awards, which recognize the institutions that systematically identify new businesses and design new financial tools. With this award, the magazine acknowledges the institution’s value proposal, which includes a customer-centric data-based user-friendly design, developed in collaboration with the fintech ecosystem.
15 May 2018
BBVA CEO Carlos Torres Vila said this morning in Mexico that “digitization is having a huge impact on customer satisfaction,” resulting in higher levels of engagement. “Digitization is helping customers interact more with us, and they are more satisfied and loyal. This new way of interacting is a powerful lever that is transforming our value proposal, allowing us to help our clients with their lives and businesses in a deeper way,” he added.
14 May 2018
Big technological companies and some banks such as BBVA are already using artificial intelligence (AI) in their products and services. However, the revolution that comes with this new technology has only just begun. At a conference organized by the IESE Business School, Ricardo Forcano, Global Head of Talent and Culture at BBVA, set forth six key issues that companies should bear in mind when adapting to this new environment.
In Europe, 2018 has been off to a busy start in terms of regulation, with major changes that affect a broad range of industries, including the financial sector. First, in January, the second payments services directive came into force, while the new general data protection regulation (GDPR) will kick into force in May 25. Although the connection between both regulatory initiatives may not be evident, they pursue common goals: To allow citizens to control their personal data and increase security.
11 May 2018
BBVA participated in the Red Hat Summit, the annual event held by the open-source software company in San Francisco, where the Group was awarded for being a model of digital transformation using cloud technologies. During one of the event sessions, the company’s CEO, Jim Whitehurst, talked with José María Ruesta, BBVA’s Global Head of Infrastructure, Service and Open Systems.
08 May 2018
BBVA has today launched an innovative new global payments system that includes cards, alternative payment forms and a fraud-prevention tool.
07 May 2018
A report by The Economist Intelligence Unit (EIU) studies the degree of readiness of different countries ahead of an ever increasing presence of technologies such as robotics and artificial intelligence. The study includes a series of in-depth interviews with experts in different fields, among them, Elena Alfaro, Head of Customer Solutions Analytics & Open Innovation at BBVA.
04 May 2018
A little more than two years after its approval by the European Parliament, the new European Regulation on Data Protection or GDPR (General Data Protection Regulation) will go into effect on May 25, 2018. It is not just another regulatory change: it is the most important change to European data regulation in 20 years and involves new rights for consumers, such as the right to be forgotten and the right to data portability. It also strengthens the concept of consent.
24 Apr 2018
Carlos Kuchkovsky, CTO of New Digital Businesses at BBVA, has been elected for the second year running as a member of the Governing Board of Hyperledger, one of the major partnerships formed to promote the use of blockchain in different business and technology sectors.
19 Apr 2018
BBVA Chairman Francisco González presented ‘The Age of Perplexity. Rethinking the World We Knew,’ the tenth book in the annual collection published by BBVA through its OpenMind project. In this publication, 23 internationally renowned and well-respected intellectuals address the big economic, political, and social questions raised by the technological revolution.
13 Apr 2018
Ten years after the crisis broke, has financial stability improved? In the opinion of Ricardo Gómez Barredo, Head of Accounting & Supervisors at BBVA, “clearly, we have come a long way,” but adds “regulation will have to continue to adapt itself to the new demands to ensure a level playing field for everyone”.
Our mobile phones have become an extension of ourselves. Even more so when looking at markets like Spain where there is significant smartphone market penetration. That’s why BBVA has committed its firm support to creating a unique experience for its customers using mobile devices. The data validates the positive progress made by the business in this digital channel. The bank’s app in Spain has just surpassed 5 million downloads by individual Android users, and at the close of March, the number of mobile customers exceeds 3.4 million.
10 Apr 2018
The global head of Customer Solutions (CS) closed BBVA Colombia’s quarterly planning meeting in an ‘All Hands’ session with 300 participants representing all areas of the bank. The message is clear: the transformation is accelerating.
BeCoN is an acronym coined by PwC researchers to refer collectively to the three new forms of capital – behavior capital, cognitive capital and network capital – that they say in a report entitled ‘The Bionic Company’ are becoming increasingly crucial in the current economy.
06 Apr 2018
BBVA’s transformation into a digital business is continuing at pace, the latest statistics from the bank show.
04 Apr 2018
“Our way is to help our customers take the best decisions.” In an in-depth interview with Actualidad Económica magazine, BBVA CEO Carlos Torres Vila explained the profound transformation that BBVA is undergoing. This is a process that is materializing in customized solutions to help the bank’s customers and clients achieve their vital goals, he added.
21 Mar 2018
What happens when you choose a restaurant on the Internet? Or when you want to buy a book? Or find a song? Or get hooked on a new series? BBVA Data & Analytics in a new item for dissemination explains how the different recommendation systems used by Amazon, Netflix, and Spotify work and how they will extend beyond the consumer and entertainment sectors.
16 Mar 2018
08 Mar 2018
BBVA’s digitization process in South America solidly advances. At the end of January 2018, 49.9% of customers in South America interacted with the bank via digital channels. This represents an increase of 26% from last year’s figures. The increase stands at 43% if we reference customers who connect using mobile devices. “BBVA’s mobile banking has seen such intense growth that it indicates where the consumption habits of the bank’s customers are going. That’s where we’ve been headed for some time now,” explains Antonio Bravo, director of Business Development and Digital banking for BBVA South America.
02 Mar 2018
BBVA’s drive towards delivering a world class digital banking experience has taken another step forward. Over the past year the bank has seen an almost twofold year on year increase in the number of products and services its customers and clients are taking-up via digital channels.
28 Feb 2018
Digital identity is the online version of an individual’s physical identity. It consists of all of the individual´s personal data that is available online —not just an email or physical address, but also pictures, banking info, shopping preferences. This identity is not uniform, as we share different attributes in different platforms. In other words, we don’t share the same type of information on LinkedIn and Facebook, for example.
26 Feb 2018
The “proptech” companies and the most innovative financial institutions are already offering services that improve the customer experience in the real estate sector.
A report by Standard and Poor’s Global (S&P) analyzes the potential impact on the financial sector of the entry of tech giants such as Google, Apple, Facebook and Amazon. Although no immediate changes to bank ratings is foreseen, the report points out that in the long term these companies are well placed to get a position in segments of the chain such as payment systems.
23 Feb 2018
BBVA today launched its new BBVA for Everyone app, available for both iOS and Android operating systems, which enables the blind and those with physical or mild mental disabilities to use the bank’s network of over 6,300 automatic teller machines (ATMs). This new tool will guide those with visual disabilities to the ATM of their choice and help them withdraw cash. BBVA is a pioneer in this type of mobile solutions, which complement the services already available for people with disabilities on the web and corporate apps.
21 Feb 2018
Since it was launched in 2016, the FCA’s regulatory sandbox has supported 60 firms to test their innovation with real customers in the live market under controlled conditions. Now, it is assessing different options to scale up the model at global level to solve the challenges of operating internationally in the fintech market.
In a fast-paced world, Swiss financial institutions are well-prepared to lead the transformation of the finance industry, particularly in private banking, where they are a clear reference in the world. The combination of accumulated experience, talent and availability of capital are decisive factors to facilitate this change.
20 Feb 2018
The head of the BBVA Data & Analytics’ Edge team, José Antonio Rodríguez-Serrano, who coordinates the innovation area in BBVA’s center of excellence in data science, shares his insights into five key questions to understand the implications of this exponential technology in different economical sectors and spheres of society.
19 Feb 2018
Four members of BBVA’s design team were invited to participate in Interaction18, the biggest technology and design event in France, to explain how design contributes to organizational change.
13 Feb 2018
As we have seen in previous articles, the intelligent use of data, with the right talent and the pertinent business strategies for applying creative solutions, can provide insights that help solve a whole gamut of problems and take on board new opportunities. Data places within our grasp an enhanced decision-making ability and a deeper understanding of our clients and what they need. But as in the case of any other tool, these new skills can be put to positive or not so positive use, whether intentionally or not.
12 Feb 2018
The use of virtual assistants, mainly in the form of smart speakers, is rapidly gaining ground. In less than a year, devices such as Echo and Google Home have appeared in households across the globe and users are becoming increasingly comfortable carrying out searches, purchases and even bank transactions using this format, which looks set to become the transactional interface between customers and companies.
09 Feb 2018
31 Jan 2018
We inferred as much in the title to the first article of this series: to key to realizing all the opportunities of this new technological era, lies in these three factors: raw material—data—and the other two are human factors—intelligence and innovation.
30 Jan 2018
Concepts such as big data, machine learning, artificial intelligence and data science are increasingly at the center of the debate about the digital revolution. But why is everyone talking about them? Do we really understand these concepts, or the implications they have on our evolution as a society?
25 Jan 2018
BBVA Group Executive Chairman Francisco González said that this year “50% of our customer base will be accessing us through digital channels.” Speaking at the World Economic Forum in Davos, Switzerland, Francisco González also gave his views on the current economic and political situation, the finance industry and the digital transformation of the BBVA Group.
23 Jan 2018
BBVA’s Group Executive Chairman Francisco González told a meeting of world leaders today that: “We have to transform the bank into a digital company, a services company, as soon as we can.” He was speaking at a high-level panel discussion held during the World Economic Forum at Davos entitled “The Global Business Context.” For the BBVA Chairman, the challenge is to be as efficient as the internet giants, and to attract the best digital talent.
22 Jan 2018
Alternative finance keeps gaining traction in Europe and Spain is no exception. By volume of activity —and excluding the UK— Spain ranks fifth in the European Union for the fourth consecutive year in this segment, behind France, Germany, the Netherlands and Finland. In 2016, Spain’s alternative finance sector grew by 162%, to €131 million.