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Innovation

Innovation

Will connected cars need their own bank account? The BBVA New Digital Businesses (NDB) unit is working to anticipate the opportunities and challenges that will arise in the financial industry when the Internet of Things (IoT) makes it possible to manage transactions directly among objects, people and organizations.

BBVA’s Group executive chairman participated in the Money 20/20 conference on financial technologies in Las Vegas, Nevada (U.S.), one of the most  important global events that brings together leading actors from the fintech and financial services industries. There he reiterated the need for “global, cross sector regulation” that fosters data exchange among different companies. “Customers must be the real winners,” insisted Torres Vila, stressing the idea that the free flow of data would facilitate the development of new services that will benefit citizens, society and the planet.

Startups face the growing challenge of building successful business models quickly, while protecting customer data from the threats in the digital world. Here are some recommendations that were offered during the last Open Summit to help entrepreneurs defend themselves against cyberattacks.