Using a smart contract will always make sense when there is a defined workflow that needs to be managed according to certain rules or to ensure the fulfillment of certain previously agreed conditions.
BBVA's Global Head of Customer and Client Solutions, Derek White, has been interviewed by leading Spanish newspaper Expansión.
The Spanish National Securities Market Commission (CNMV), BME and a group of financial institutions formed by Banco Santander, BBVA, BNP Paribas, CaixaBank, Commerzbank and Société Générale, have been collaborating over the past year on a project called Fast Track Listing (FTL), which is based on blockchain technology.
The rise of fintech platforms has yielded an uptick in banking industry innovation. Newsworthy developments seemingly come in waves, bombarding the news cycle and drowning consumers with vast amounts of information.
The two companies have just used the blockchain technology to renew a credit line worth €325 million, the first initiative of this collaboration.
BBVA’s digital customers have once again set new records in their adoption of the groups digital channels and offerings, the bank is reporting.
We are witnessing the birth of a new generation of consumers. The latest generations – “millennials” and “centennials” – and those who are no longer so young but have quickly migrated to the new technologies, are setting the course for the economy in general and for banking in particular. Their new patterns of behavior and consumption create needs that change as quickly as the digital environment. It is essential that banks understand these needs so that they can help their customers make better financial decisions.