BBVA has agreed to invest £45m (around €64m) for a 29.5% stake in Atom, the UK’s first mobile-only bank, which will launch in early 2016. The investment is part of BBVA’s strategy to lead financial services in the digital age.
The World Economic Forum published a study on the potential of the Fintech sector for small and medium enterprises.
BBVA Wallet, the bank’s mobile payment app, has been downloaded more than 1 million times, less than two years after its launch. Already available in four countries, the app is also being launched this week in Turkey by Garanti Bank - in which BBVA has a nearly 40% stake - under the BonusFlas brand.
Users want to manage their personal finances on the cell phone easily, quickly and very efficiently. It is the evolution of personal financial management (PFM).
The IMF places the country in fourth place in its ranking by GDP in the region because of the devaluation of the Colombian peso against the US dollar.
PFM tools must prioritize the wishes and needs of the consumer over and above the bank's own business if they are to succeed.