Derek White, Global Head of Customer Solutions for BBVA, presided over the European final of the 2016 Open Talent competition. He took advantage of his time in London to analyze the challenges banks are facing and the role of the fintech ecosystem in financial services.
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).
The concept of teamwork is so ingrained in companies and organizations that practically no one dares to question it. Milovan Dragañac [BBVA Peru] thinks there is a better way.
Payments are undergoing a revolution in both the emerging and developed markets. Apple, Facebook, Google and Amazon (the "bad boys" of the technology world) are changing the rules of the game.
Numerous publications have attempted to find out what defines the millennials –the new generation of young people who not only have different values and tastes from their elders, but who are also pioneers in adapting new technologies, and whose uses and customs tend to be copied by older generations. BBVA has conducted a study to find out what they are like and what they really want out of life. It reveals that not only are there are a large number of different types of millennials, but that their preferences vary depending on their country of origin.
Seven UK financial technology start-ups have been named among the finalists in the 2016 BBVA Open Talent European final - the competition, now in its’ eighth year, that looks to support the new businesses that are going to change financial services for the benefit of the consumer and for society.