BBVA backed Garanti Bank, in cooperation with Turkish Central Bank and TUBITAK, the Scientific and Technological Research Council of Turkey, has sponsored the first Blockchain Workshop in Turkey.
Finding funding is the main concern of the fintech sector in meeting growth and expansion targets, according to a new report published by the London Stock Exchange Group and TheCityUK. However, collaboration with big financial institutions on the basis of initiatives such as BBVA Open Talent is becoming increasingly important as a means of gaining presence in the market and driving fintech growth.
This week in London, BBVA hosted a roundtable at the Innovate Finance Global Summit. This year’s event, held at the historic City of London Guildhall, brought together forward-thinking global leaders from seed stage start-ups to global financial institutions and professional services firms.
The relationship between banks and 'fintech' startups has evolved from mistrust to collaboration. Users, already used to enjoying improved customer experiences, may come out big winners. In this collaborative context, BBVA is mentioned as an organization that is “showing the world what the future of banking can be”.
Garanti Bank has pioneered the digitalization process in the banking sector in Turkey over the past 20 years and its efforts as a stand-out player in this field have been widely recognized internationally. Garanti continues to lead digital banking growth through its investment in multi-channel technology, the fruit of which is seen in its excellent customer experience track record.
Garanti Bank recently launched the opening of brokerage accounts via digital channels, with the new process requiring only a few clicks and less than 5 minutes to complete. This is a great advance over the old process, which required signing dozens of forms and took 60 minutes to complete.
BBVA is developing payment methods based on biometric technologies to make checkout at stores ‘invisible’. It is already being used in cafeterias and restaurants at Ciudad BBVA. More than 1,000 employees already use an app to automate payments and testing has begun on a biometric facial recognition system based on technology from the startup Veridas, a JV of BBVA and Das-Nano in 2017.
So, when he got the January phone call saying he was the bank’s Sign In & Win Sweepstakes grand prize winner, Everett didn’t believe it. According to Director of Multi-Channel Sales and Promotion Cody Sparks, the fact that it was so easy to deposit his check - and in the process win $10,000 - is precisely why the bank conducted the sweepstakes.