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Finance

Finance

To celebrate the 50th anniversary of the International Capital Market Association (ICMA), BBVA took part in a conference on capital markets. What will they be like in the future? According to José Manuel González-Páramo, they will be "digital and sustainable". Digital on the strength of innovation by technologies such as blockchain, automated advice and trading algorithms; and sustainable because they will help attract "green" finance.

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”.

Artificial intelligence is here to stay. In recent years it has opened the way to different areas of our lives, reaching what were previously unknown territories. This is not a single technology, but rather a set of construction blocks that act as catalysts for major advances, which is why BBVA is committed to an innovative approach based on data science and artificial intelligence to boost its capital markets business.

BBVA considers that it is currently in compliance with the MREL requirement, which today was notified by the Bank of Spain. BBVA also considers the possibility of refinancing the future maturities of senior debt and covered bonds (€6.5 billion through 2020) issuing MREL eligible liabilities. This issuance volume is very manageable.

José Manuel González-Páramo took part in a panel discussion on the future global financial regulation at the spring meeting of the IIF (Institute for International Finance) in Brussels. In his opinion, the new regulatory framework should be based on five pillars: 1) focus on risks and activities rather than institutions themselves, 2) have an holistic approach, 3) be transversal and coordinated, 4) be flexible y 5) have a skeptical approach to technology with regulators focusing not on technology itself but on its use and effects.

Today technology is taking giant steps forward and has become a fundamental part of our daily lives. Non-stop and increasingly powerful innovations provide us a huge array of new opportunities that are only a click away. One example is artificial intelligence, a domain that has extended into the financial field, becoming an agent of change, capable of revolutionizing a large part of the world’s financial markets.