The digital transformation is altering the Spanish economy as demonstrated by varying levels of ‘routinization’ in numerous fields and the growing relationship between average salaries and hardware and software use in different occupations. These are some of the conclusions detailed in a report prepared by BBVA Research, which analyzes the impact of the routinization and computerization of different manufacturing sectors, occupations, and employment profiles on the Spanish economy.
U.S. digital bank Simple, which is owned by BBVA, has announced the appointment of David Hijirida as the company’s next Chief Executive Officer. Hijirida, who joins from Amazon, takes over from Dickson Chu who was working as the interim CEO of the bank, and who will remain as the Executive Chairman of Simple’s Board of Directors.
Who will win the battle between fintech and banks in an age where geographic borders matter less and data is a critical factor in business growth? Actually for BBVA Chief Executive Officer Carlos Torres Vila the answer is simple – it will be the customer. This was one of the key messages he delivered in front of several thousand people at the world’s biggest fintech conference in Singapore, earlier today.
BBVA collaborated with a research team from the Massachusetts Institute of Technology (MIT) to develop a model that can reduce the level of false positives in fraudulent card transactions up to 54 percent, thanks to algorithms based on machine learning.
News headlines were heavy-hitting this week in the world of U.S. fintechs. The same outlet published two articles this week, one about possible challenges, and one about an ongoing alliance.
Companies like Google, Apple, Facebook, Amazon, Spotify and Netflix use algorithms to try to offer their users personalized recommendations. Two Spanish researchers found that even in these personalized suggestions, the views of the majority carry a heavy weight.
To make customers’ lives easier through innovative products and services, Garanti Bankası has revamped its mobile app (Garanti Cep) and website for SMBs. They now provide a completely new user experience tailored to the financial status and needs of each SMB user.