How will banks be impacted by big tech (Google, Amazon, Facebook, etc.) entering the financial services industry? Can regulation promote a level playing field? These are some of the questions raised at the “Big Tech Banking” event organized by CUNEF (University of Financial Studies) and the Spanish Banking Association (AEB). BBVA joined financial experts and regulators participating in the event, where a common thought prevailed: data will play a key role in the battle between banks and Big Tech.
07 Dec 2018
No one can predict the future. But calculated forecasts can be made based off of robust information.
30 Nov 2018
23 Nov 2018
This Fintech Friday has a local spin to it, with a columnist out in the desert making a case for Arizona’s financial technology sector.
For second year in a row, the European Commission has recognized BBVA as one of the 36 corporates that are doing more to collaborate with technological startups.
16 Nov 2018
Mortgages and real estate were at the forefront of the fintech news headlines this week in the U.S.
15 Nov 2018
Upturn, a new venture incubated by BBVA and aimed at changing the financial health of up to 22 million U.S. residents a year, has today been launched in the U.S.
13 Nov 2018
The digital transformation is altering the Spanish economy as demonstrated by varying levels of ‘routinization’ in numerous fields and the growing relationship between average salaries and hardware and software use in different occupations. These are some of the conclusions detailed in a report prepared by BBVA Research, which analyzes the impact of the routinization and computerization of different manufacturing sectors, occupations, and employment profiles on the Spanish economy.
12 Nov 2018
U.S. digital bank Simple, which is owned by BBVA, has announced the appointment of David Hijirida as the company’s next Chief Executive Officer. Hijirida, who joins from Amazon, takes over from Dickson Chu who was working as the interim CEO of the bank, and who will remain as the Executive Chairman of Simple’s Board of Directors.
Who will win the battle between fintech and banks in an age where geographic borders matter less and data is a critical factor in business growth? Actually for BBVA Chief Executive Officer Carlos Torres Vila the answer is simple – it will be the customer. This was one of the key messages he delivered in front of several thousand people at the world’s biggest fintech conference in Singapore, earlier today.
09 Nov 2018
News headlines were heavy-hitting this week in the world of U.S. fintechs. The same outlet published two articles this week, one about possible challenges, and one about an ongoing alliance.
08 Nov 2018
The European Banking Authority (EBA) has just released its work programme for next year. Understanding the risks and opportunities arising from financial innovation and a better handling of data are some of the priorities the institution has outlined for 2019.
06 Nov 2018
02 Nov 2018
26 Oct 2018
Money20/20 USA, the world’s largest fintech and payments event, took place earlier this week in Las Vegas. The annual event, now in its sixth year, touts itself as the place where the payments, fintech and financial services create and explore the ways consumers and businesses manage, spend and borrow money.
23 Oct 2018
Are banks going to withstand the challenge of the big tech players and indeed beat them at their own game? It’s a question that banks all over the world are working on but for two of the leading digital banks in the world —BBVA and Citi— it’s more a question of how far do ‘we’ want to go.
22 Oct 2018
Innovate or Die.
It has become a common refrain over the past decade or so for banks when it comes to technology, particularly when faced with fintechs wishing to disrupt what has traditionally been part of banking’s value chain. But in the U.S.,the challenges associated with innovation come not only from fintechs but also from the relatively glacial pace of regulatory change.
19 Oct 2018
This week, a quick wrap-up of the top fintech stories:
18 Oct 2018
The partnership paves the way for the development of a startup studio in London, reinforcing BBVA’s strategy to be part of the fintech ecosystem and develop products and services for the new era of digital banking.
17 Oct 2018
BBVA Group Executive Chairman Francisco González said to participants in the BBVA Open Summit in Madrid that “data will define the future of the world.” Addressing an audience of hundreds of entrepreneurs, BBVA chairman added that for BBVA, data belongs to the customer.
Boundaries between sectors are quickly disappearing in the fintech world – a trend also apparent in efforts to innovate. With this in mind, the second edition of Open Summit is exploring different ways in which startups and corporations can work together. “At BBVA we want to turn the magic of startups into products that reach our customers,” Derek White, the head of Client Solutions, said at the opening session of the event.
16 Oct 2018
13 Oct 2018
José Manuel González-Páramo on Saturday took part in the annual meeting of the Institute for International Finance (IIF) in Bali held in parallel with the annual meetings of the IMF and the World Bank. He called for a regulatory framework that treats all market participants equally by establishing a level playing field: “Activities with the same risks should receive the same regulatory treatment” without unnecessary barriers to competition, he said.
12 Oct 2018
The International Monetary Fund and the World Bank Group this week launched the Bali Fintech Agenda, a set of 12 policy elements aimed at helping member countries harness the benefits and opportunities of rapid advances in financial technology.
11 Oct 2018
CreditGate24, a company that specializes in financing to individuals and companies, has been chosen as the best Swiss startup in the final of BBVA Open Talent Switzerland held in Zürich. The fintech will represent Switzerland in the global final to be held October 16-17 in Madrid.
08 Oct 2018
Open innovation took center stage at South Summit 2018, where BBVA presented various tools, initiatives, and projects. With its participation in the event, the bank sought exposure to talent and ideas outside its normal ecosystem.
05 Oct 2018
BBVA has given Sheetgo the award as the startup with the most scalable business during the closing of Spain’s biggest startup conference in Madrid.
26 Sep 2018
BBVA backed digital banking platform Simple is shaking up the U.S. savings market by introducing a sector leading rate for consumers.
24 Sep 2018
BBVA has launched a new service for startups looking to work with the bank, which matches up expertise with needs across the business.
21 Sep 2018
Developments in the U.S. fintech world reached the federal level this week (more so than usual).
14 Sep 2018
13 Sep 2018
12 Sep 2018
These decentralized applications use blockchain so that users can interact directly among themselves and close deals without the involvement of a central management service.
07 Sep 2018
06 Sep 2018
In this series of of interviews, BBVA talks with some of those at the cutting edge of designing the future of financial services. The series is about getting under the skin of where, how and why technology will be the biggest game-changer when it comes to how people and businesses bank in the future.
04 Sep 2018
Amid increasing numbers of fintechs joining the financial industry and burgeoning investment in them – Accenture reports $27.4 billion was spent financing fintechs in 2017, an 18 percent increase year-over-year – there has been much hand wringing and discussion about the future of incumbent banks. For BBVA Compass Head of Business Development Pepe Olalla, the future isn’t so murky.
“When people say the next industry to be disrupted will be banking, and that it will suffer what media or the music industries have suffered, I tend to disagree,” he says.
03 Sep 2018
More than six months have passed since the initial deadline for compliance with the EU’s PSD2, designed to increase openness, convenience, and competition in consumer banking. There has been criticism that the foretold open banking revolution has been slow to get off the ground. But is that fair? What has been achieved so far, is open banking on course, and what does the future hold?
31 Aug 2018
Thoughts were shared recently about what potential fintech entrepreneurs should be wary of when first starting out. A particular piece by Forbes outlines key tips from top leaders in the fintech world, including representatives from companies such as Instant Financial, Alpha Vantage and more.
24 Aug 2018
New doors may be opening for some fintechs across the country, at least according to one news source.
23 Aug 2018
Technically, big data is no different than any other data, there’s just more of it. After all, gathering data is nothing new. We all have birth certificates, marriage licenses, insurance cards, and our grandparents had those same things decades ago… even without computers. The difference today is the sheer volume of data and the ways that data can be collected and analyzed.
22 Aug 2018
The Boston Consulting Group (BCG) recently released research aimed at demonstrating the importance of digital transformation in corporate banking. In the research, BCG underscored the notion that for lasting and meaningful digital transformation, banks need to develop a clear vision for the future of banking, formulate a comprehensive strategy of how they will evolve alongside it, and plan their initiatives accordingly.
17 Aug 2018
10 Aug 2018
03 Aug 2018
The fintech world boasted big news this week.
27 Jul 2018
The latest developments in the world of fintech show promise in certain areas, and concerns in others, according to reports coming out of top credible outlets.
20 Jul 2018
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
Last year’s Open Talent global Financial Inclusion award winner, ePesos is connecting more of Mexico’s unbanked population with the financial services they need. BBVA speaks to Alex Martin, Director of Strategic Partnerships, to find out more about how ePesos has continued to contribute to the evolution and transformation of the economy in Mexico.
13 Jul 2018
Fintech news went the way of regulation both on a global and national scale this week. One constant is the rise in funding, which saw a spike in the last quarter.
Banks have clearly opted for financial technology, or fintech, to take on their new rivals, be they small startups or internet giants. However, the use of these technologies is more limited than it might appear. According to a study by the European Banking Authority (EBA), currently the majority of banks are focused on two lines of actions: biometrics for the identification and authentication of customers and the launch of mobile payment systems using NFC technology.
12 Jul 2018
Every year BBVA’s Open Talent competition sees an increasingly diverse range of entrants from all over the world, each of who is hoping to make business more effective through technology and the way it interacts with financial services.
11 Jul 2018
BBVA has announced the finalists of Open Talent, the world’s biggest fintech competition. This year marks the tenth anniversary of the competition, which has welcomed over 6,000 entries from start-ups in more than 80 countries since it launched.
06 Jul 2018
With Independence Day settling in during the middle of the week, Fintech news across the country still popped up consistently like 4th of July fireworks.
05 Jul 2018
Azlo is empowering a new generation of founders and entrepreneurs with the digital tools to access key financial networks and accelerate their economic opportunity. BBVA has incubated Azlo to help them achieve this mission and to better serve ‘gig-economy’ workers, that are currently underserved by the financial services sector.
04 Jul 2018
Garanti Bank’s modernization drive has now put the fruits of the burgeoning digital world at the fingertips of customers at 500 of its branches just a year after its revolutionary service model was introduced. The transformation effort of its entire branch network, which is on track for completion by year’s end, aims to allow one-stop, fast and easy access to a wide array of services.
03 Jul 2018
Artificial Intelligence’s greatest advances have yet to come, but the combination of big data with machine learning algorithms has already yielded benefits to the financial world daily operations.
Last month, Revolut became one of only five fintechs in Europe to achieve unicorn status, following a $250 million Series C funding round.
30 Jun 2018
BBVA Compass Head of Business Development Pepe Olalla recently spoke with Bank Innovation’s Tatjana Kulkarni in an interview posted in two articles, Zelle and Insurance on the Roadmap for BBVA Compass’s Mobile App and How the Innovation Team at BBVA Compass Focuses on Needs, Revenue.
29 Jun 2018
Every Friday, BBVA Compass, a leader in the U.S. digital banking revolution, publishes its weekly Fintech Friday article, giving you headlines you might have missed in the world of fintech across the U.S.
22 Jun 2018
The rise of fintech platforms has yielded an uptick in banking industry innovation. Newsworthy developments seemingly come in waves, bombarding the news cycle and drowning consumers with vast amounts of information.
19 Jun 2018
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.
14 Jun 2018
Fintech expert Chris Skinner shared the stage with Carlos Kuchkovsky, CTO New Digital Businesses at BBVA, at Desafío Ingenia, where they debated the arrival of technologies such as artificial intelligence, the importance of data and new entrants in the financial services market.