According to a KPMG report, payments will retain its position as the most significant area for fintech investment in the coming years. Regtech, cybersecurity, wealthtech and proptech are other sectors on the rise. These are areas of innovation and development that the BBVA Open Talent team is also seeing, as part of the around 800 entries to this year’s BBVA Open Talent Competition, the world’s biggest fintech competition.
BBVA, in partnership with South Summit, has launched a request for proposals to solve two major challenges of the financial sector: improving digital onboarding processes and digital banking services for SMEs.
In February 2019, BBVA USA’s parent company disclosed in its earnings presentation that BBVA USA’s branch productivity increased by 40 percent over two years, making the regional bank one of the fastest growing in its segment.
More than 750 applicants from in excess of 90 countries applied to the world’s biggest fintech competition this year.
Garanti BBVA held the Turkish round of the world’s largest fintech competition, BBVA Open Talent, for the fourth time at the Impact Hub in Istanbul. Five startups reached the finals of the event, which encourages innovating businesses to submit cutting-edge creative projects that contribute to financial technology. Pisano was the event’s top prize winner and as such has qualified to attend the BBVA Open Summit in Madrid on October 24.
We recently caught up with Open Platform’s CEO, Abhishek Gupta, to discuss the benefits of open banking, Banking-as-a-Service, and why they have the power to transform the delivery of services across a wide range of industries in the US. Following are the highlights from our conversation with him.
When it comes to 21st century banking, there is no shortage of terms bandied about that those in the industry are expected to know. Among the more obtuse are those related to banking’s next frontier, open banking.
The digital onboarding process based on biometric identification technologies, which is already available in Spain, will now reach other countries thanks to the reuse of globally designed components.
Atom bank, the U.K.’s first bank built exclusively for mobile, has today been awarded a £10 million grant to boost genuine competition in lending to SMEs. Atom will use the grant to help transform banking for small businesses and deliver an additional £3 billion of business financing by March 2024. Atom will also create 70 jobs in the North East of England.