Luis Robles Miaja, president of BBVA Bancomer, closed the Seminar for Latin American Regulators by asserting that the banking sector “cannot be removed from technological change.” On the contrary, it is obliged to “adopt it, for the benefit of society, and create more secure financial institutions.”
BBVA invited the principal regulatory agencies in Latin America to take part in a dialogue about technological change in financial services, “a radical change that the different countries in the region are experiencing,” which directly affects consumers’ behavior.
BBVA has announced the 10 finalists in its Open Talent Ideas Competition – aimed at finding a banking model that works for both customers and banks in an era of historically low interest rates.
BBVA customers can now interact in Spain with the bank via social networks and instant messaging services. BBVA has developed two new tools, Chatbot and BBVA Cashup, which allow customers to access financial information via Facebook and Telegram, and also to make payments via Bizum from Whatsapp or any messaging service.
BBVA just completed the first real-life implementation of an international money transfer using Ripple’s new Distributed Ledger Technology (DLT). The transaction, running on BBVA infrastructures with real money, successfully completed transfers between Spain and Mexico in a matter of seconds.
From medicine to finance, large-scale data processing technologies are already starting to deliver on their promise to transform contemporary societies. Far-reaching social changes don’t take place overnight. Little by little, they become part of our daily life, until their revolutionary nature dissipates. Years ago, hybrid cars started turning people’s heads. Today, electric cars are becoming less of a rarity – at least in larger cities.
The interconnectedness of the world’s fintech communities was the focus of the Innovate Finance Global Summit in London last week. With more than 30 countries represented, and in excess of 2,000 people in attendance, the main topic of discussion was how these international fintech hubs could better work together.