StepEx has raised £1.1 million in pre-initial funding, with the venture studio BBVA Anthemis Venture Partnership being the lead investor. This startup from the UK offers an alternative system of student finance based on the estimation of their future income, to democratize access to postgraduate qualifications.
No venture fund can reveal all its secrets, is the first thing Propel says when asked how it selects the startups in which it wants to invest. But it does recognize that there are elements that are as clear a sign as any to detect a great company.
With more than 40 companies in its portfolio, six of them considered unicorns (valued above $1 billion) and two listed on the public stock markets, Propel has become a corporate venture capital benchmark since it was founded five years ago. The book 'Transactional to Transformational - How Banks Innovate', recently published by Wiley, recounts how BBVA opted to create an independently managed fund in order to approach the most promising fintech.
eSports is one of the digital industries that has grown the most during the COVID-19 pandemic. In May 2021, more than nine million users watched around 2.3 billion hours of gameplay on the streaming platform Twitch alone, which in the first quarter of the year reached a historic 6.3 billion hours watched, doubling the viewing figures of the same quarter in 2020. It is estimated that by 2022 eSports will have global audiences of more than 600 million followers. Streamers are looking to offer these audiences unique new experiences that go beyond gaming and even leap from the virtual to the physical realm.
BBVA experts recommend that SMEs should digitize, become more technified, and increase their training to adapt to the new times in order to get onboard the sustainability train and make progress in their recovery.
BBVA, together with the other 15 major Spanish banks, took part in the first tests leading to potential issuance of the digital euro. The initiative, coordinated by Iberpay, involved the Bank of Spain as an observer and its findings are included in the report.
Innovation, teamwork, knowledge acquisition and use of new technological capabilities are essential to developing new products and services that are more in line with customer needs. The BBVA Global Ninja Hackathon accordingly set the challenge of creating a prototype to attract and/or retain customers using artificial intelligence and data, in partnership with IBM. Did anyone manage it?
Endeavor, the global entrepreneurship organization, convened four European banks at its event 'Leading Innovation in Financial Services' to seek synergies and formulas that promote innovation. Ainhoa Campo, global manager of Open Innovation at BBVA, pointed to the “robust growth” of fintech’s ecosystem in southern Europe.
According to 'Impact of COVID-19 on Consumption in Real Time and High Definition', a report by BBVA Research, May 2021 card spending was 19 percent higher than in May 2019 (+36 percent y-o-y, i.e. compared to May 2020). Spending in restaurants and leisure grew the most, driven by the lifting of state of alarm restrictions.