Marcos, Marcela, Lucy, Juan, Adelaida, and Luz are not six names just pulled from a hat. They are six Latin American entrepreneurs who are getting ahead using small loans, savings, and microinsurance that protects what they are building. They are six of the 2 million people served by the BBVA Microfinance Foundation (BBVAMF).
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.
29 May 2018
The BBVA Open Talent team has recognised a number of fintech businesses with a financial inclusion mission. Their business models, and the resulting impact on society, make Open Talent alumni businesses such as Destacame, ePesos, and Musoni ones to watch.
25 May 2018
In the future, artificial intelligence will, among many other things, allow to develop helpful customer products for unbanked segments of the population. “Artificial intelligence and financial technologies create opportunities for the democratization of finance,” said Álvaro Martín, Head Economist of Digital Regulation and Trends at BBVA Research, during the meeting of the Institute of International Finance (IIF), held in Brussels. In his opinion, “artificial intelligence, big data and cloud computing will boost financial inclusion”.
20 Apr 2018
Close to 40% of the world’s population, some two billion people, do not have access to a bank account. The mobile phone is starting to alleviate the problem and blockchain could be another big driver.
29 Mar 2018
HOUSTON — BBVA Compass and Opportunity Finance Network today announced the names of the 27 dedicated leaders at community development financial institutions who were selected for the 2018 Opportunity Fellows Program, their joint initiative to boost the CDFI industry’s leadership ranks and spur greater access to capital in under-resourced communities.
02 Mar 2018
21 Feb 2018
BBVA Compass and Opportunity Finance Network are putting out the call to dedicated leaders at community development financial institutions and inviting them to apply to the Opportunity Fellows Program, their joint initiative to boost the CDFI industry’s leadership ranks and spur greater access to capital in under-resourced communities.
10 Jan 2018
Goodwill Central Texas will open a new hub for financial education as part of the future Goodwill Career and Technical Academy, with funding generously provided by the BBVA Compass Foundation. The BBVA Compass Center for Financial Education will break ground in late 2018.
14 Dec 2017
The U.S. Congress got a step closer to improving access to mainstream financial services for the underserved and unbanked with the inclusion of the MOBILE Act (H.R. 1457) as part of an amendment to the banking regulatory relief bill that was reported out of the Senate Banking Committee last week, and the standalone bill reported out (by 60-0 vote) of the House Financial Services Committee this week.
16 Nov 2017
Money 20/20 Las Vegas is without doubt one of the showcase events for technology and financial services in the world. Every years thousands of people involved in the industry, from big banks like BBVA to technology firms like Google and most importantly innovators and start-ups, gather to discuss the future of the industry.
13 Nov 2017
Latin America will be one of the leaders of the global economy. The digital transformation has been one of the keys to this reduction in poverty and improvement in social indicators. But how has it helped? One example is digital financial inclusion.
24 Oct 2017
For the banking industry, the digital revolution has brought new technologies and new types of customers and competitors. But it has also created a new set of ethical responsibilities regarding cybersecurity and the use of data. José Manuel González-Páramo, BBVA’s Executive Director, talked about those ethics, and the opportunities and challenges of digitization, during a speech at the Atrium of the Gentiles, a cultural dialogue organized by the engineering school ICADE and the Ecumenical Social Forum of Madrid. He said these ethics will require acting from a triple perspective: educational, business and regulatory
16 Aug 2017
Open Talent has evolved from a unified competition for technological companies to one divided into categories that supports all kinds of entrepreneurs in innovation from many countries. It has developed every year since 2009 to help more new entrepreneurs.
17 Jul 2017
Cell phones have become an indispensable element or our lives. The small screen that holds hundreds of applications and resources for work or play facilitates our day-to-day life. And, in developing countries, the cell phone can be a powerful tool for improving the health, education or the income of the poorest people.
07 Jul 2017
The agility, price and quality of digital services benefit customers, according to BBVA Executive Director José Manuel González-Páramo. At the Young Ibero-American Leaders Convention, organized by the Carolina Foundation in Madrid, he explained the benefits of the digital age for customers, especially in Latin America where a large portion of the population does not have access to financial services. “Customers are the main beneficiaries of the technological change we are experiencing. The opportunities enabled by digitization give more power to them,” he indicated.
At a debate about the opportunities offered by digitization, he noted that “the immense agility” with which customers can be reached, “the prices that are so low” compared to the past and “the quality of services” benefit customers.
23 Jun 2017
How peoples’ behavior affects the economy and how their conduct can be educated so they can aspire to a better present and future wellbeing. That was the central idea of the panel Behavioral economics and financial education, moderated by Jorge Sicilia, director of BBVA Research. The participants included Josh Wright, executive director of Ideas 42; Carlos Ramírez, chairman of the National Commission for Retirement Savings of Mexico and Hugo Ñopo, senior researcher at the Group for the Analysis of Development (GRADE).
16 Jun 2017
BBVA Executive Director José Manuel González-Páramo today closed the EduFin Summit in Mexico, which the bank organized. In his opinion, “we are at a key moment in the development of financial education”, due to the socioeconomic changes taking place, the growing complexity of financial products and the digital transformation of banking.
15 Jun 2017
Dozens of families in one of the areas where the country’s digital divide is the widest will be getting free internet access thanks in part to BBVA Compass’ steadfast commitment to using the power of digital to create opportunities in its communities.
Education and financial inclusion are the principal themes of EduFin Summit 2017, the first global encounter organized by the BBVA Center for Financial Education and Capability. For two days, the world´s leading experts will meet in Mexico City to discuss how to help people improve their lives and access new opportunities, by means of financial knowledge.
14 Jun 2017
A beautiful 18th Century building houses the world´s first museum dedicated to explaining topics in economics, finance and sustainable development: The Interactive Museum of the Economy (MIDE). This institution, founded in 2008, has become a benchmark, because of its way of bringing the world of finance closer, in an entertaining and interactive way.
02 Jun 2017
23 May 2017
Latin America is not very keen on, or good at saving, says a new publication by the Inter-American Development Bank (IDB). The solution would be to promote financial education and build a culture based on improving saving habits among Latin Americans.
03 May 2017
BBVA has a notable presence at the B20 summit being held in Berlin. “Digital finances are making the financial inclusion of SMEs possible,” said BBVA’s Executive Director José Manuel González-Páramo during his presentation on Tuesday. Joining him in the discussion was German Finance Minister Wolfgang Schäuble.
19 Apr 2017
“Data is the fuel of the new economy and big data is its engine”, said BBVA Executive Board Director José Manuel González-Páramo, during a talk at John Hopkins University in Washington, D.C. With these words, he summarized the impact of the Fourth Industrial Revolution, which is also causing a radical transformation of the financial sector. This revolution is causing us to “rethink traditional retail banking.”
31 Mar 2017
22 Mar 2017
B20 (the official business dialogue of the G20) defends that the world’s 20 most developed countries should promote inclusive growth, while ensuring the financial stability of the system. BBVA Executive Board Director José Manuel González-Páramo, in his capacity as co-chair of the Financing Growth and Infrastructure taskforce, explained today in Paris the importance of developing a coherent and proportionate regulatory framework, especially in the digital regulation arena, as fundamental pillar to promote inclusive growth.
09 Mar 2017
Digital technologies have brought change to the financial sector and with it, new ethical challenges for banks. However, in this new digital environment there is one thing that hasn’t changed: confidence, which continues to be the foundation of the financial business and puts customers at the heart of the banking business model.
08 Mar 2017
Almost seventy years since it was first recognized as a universal right, in 1948, gender equality is still far from being a done deal. Indeed, despite representing 50% of the labor workforce, women are responsible for just 37% of the world’s GDP. According to the World Economic Forum, a series of measures are expedited, economic gender equality will not be achieved for another 170 years.
28 Feb 2017
Financial inclusion has emerged as one of the priorities in the G20’s agenda, as it is an essential ingredient for economic development and the reduction of poverty. New technologies, especially the use of the mobile phones, are now becoming catalysts of this small revolution that will allow huge segments of the population that remains unbanked as of today to gain access to financial services.
23 Feb 2017
Thirty years ago, microfinance revolutionized the market with affordable loans for the disadvantaged. Until then, the most vulnerable population segments were left out on the fringes of the financial system, and had no way of accessing credit. Today, with 2 billion adults still unbanked, new technologies are emerging with the potential to reach more people at a lower cost. But this opportunity is having a challenging impact on the current microfinance model, which was built on the pillars of personal relations and trust.
06 Feb 2017
The headquarters of BBVA Microfinance Foundation (BBVAMF) in Madrid was the venue of the meeting that the company held with Luis Alberto Moreno, Chairman of the Inter-American Development Bank (IDB). The aim of this meeting was to analyze the joint projects of both institutions and their future initiatives.
25 Jan 2017
BBVA is the only financial institution attending the G20 conference being held this Wednesday in Wiesbaden (Germany). Executive Director José Manuel González-Páramo participated in a conference on the opportunities and risks associated with the digital transformation, together with the President of the Deutsche Bundesbank, Jens Weidmann; German Finance Minister Wolfgang Schäuble; Governor of the Central Bank of Mexico, Agustín Carstens; and Bank of England Governor Mark Carney.
12 Jan 2017
Today, BBVA CFO Jaime Saénz de Tejada stressed the important role the Inter-American Investment Corporation (IIC) plays as a partner and lender for Latin America’s private sector. He also underscored BBVA’s close relationship with the Inter-American Development Bank (IDB), with which the bank is collaborating on numerous fronts.
14 Dec 2016
29 Nov 2016
Reflecting on BBVA’s long and successful history in Paraguay, Agustín Antón highlights some of Paraguay’s most favorable characteristics, a “country that, grossly overlooked as it may be, is blessed with a number of strengths which translate into great opportunities”, as the basis to continue improving as a universal bank in all its aspects.
19 Nov 2016
“It is really moving to see this type of initiatives and how a Foundation like ours can do so much in favor of society. These people have access to loan facilities, but they manage to move forward thanks to their own efforts and will to fight. Their work is spectacular and we are already seeing progress in future generations; their kids and grandchildren go to school and many even make it to college. For me, it has been an incredible visit,” said Francisco González during his visit to some of the projects supported by the BBVA Microfinance Foundation (BBVAMF) in Soacha, a city just outside of Bogota (Colombia).
26 Oct 2016
BBVA Compass and Opportunity Finance Network are joining forces to cultivate the next generation of leaders for Community Development Financial Institutions, organizations that are critical engines of opportunity in low-income communities.
20 Oct 2016
Financial education is now part of the G20’s strategic agenda. The role it plays in fighting equality is becoming increasingly well-known, making it a priority for companies working in the banking sector.
17 Oct 2016
No one is poor, even though 836 million people are extremely poor, and are sick from poverty, hungry from poverty, unequal from poverty and silenced by poverty, according to the United Nations Development Programme (UNDP).
10 Oct 2016
14 Sep 2016
Private industry leaders gathered at BBVA Compass Plaza in Houston for a workshop Tuesday on how businesses can push progress on the most pressing issues of our time. The workshop, hosted by BBVA Compass, the United Nations’ Sustainable Development Goals Fund and the BBVA Microfinance Foundation, had two goals: to help spread the word and build understanding of the United Nations’ 17 Sustainable Development Goals, which revolve around issues like education, health, poverty alleviation, clean water and the climate; and to gather input from executives at some of the companies that are already focused on tackling some of those same issues.
12 Sep 2016
Mexico is celebrating its national holiday this Thursday. An important day, and we want to humbly join in the celebrations by offering a special selection of content focusing on Mexico and BBVA Bancomer on our website, bbva.com.
31 Aug 2016
More than 2 billion adults are excluded from the formal financial system, according to the Universal Financial Access 2020 report by the World Bank.
The challenge is to ensure that by 2020 adults around the world will have access to a checking account or an electronic service to save their money and send and receive payments. This goal is behind the boom in financial inclusion strategies, which are increasingly making use of technology and the services provided by the so-called technological finance (fintech).
23 Aug 2016
04 Aug 2016
The BBVA Microfinance Foundation (BBVAMF) has taken part in the United Nations’ High-Level Panel on the economic empowerment of women in Latin America. This event served as an important first step on the road for working together to create a planet without discrimination.
02 Aug 2016
The recent report, The Business of Financial Inclusion: Insights from Banks in Emerging Markets represents a new endeavor for the Institute of International Finance (IIF). It is based on the insights of 24 executives in charge of financial inclusion, a topic of growing interest.
28 Jul 2016
15 Jul 2016
The European Investment Bank (EIB) has set up a series of credit facilities with BBVA to finance small and medium enterprises, providing them with liquidity and backing for their investments. Support for European companies is an essential element in the EU’s economic policy and, therefore, is one of the EIB’s investment priorities.