Garanti BBVA Asset Management, Turkey's first portfolio management company, continues to offer innovative solutions to its investors. In this context, the company recently created the "Garanti Asset Management Metaverse and New Technologies Variable Fund (MET)", the first fund in Turkey to focus on metaverse - the new virtual and real-world network that is expected to replace the internet in the future.
In recent years, the term proptech (technology applied to property) has become popular across the various strands of the housing market. The emergence of startups using tech tools like big data and artificial intelligence, as well as the inevitable digitisation of countless traditional companies due to the Coronavirus crisis, has laid the foundations for this sector to be reinvented.
Atom, the UK's first app-based bank, has raised more than £75m in new equity (around €90m)¹. Together with Toscafund and Infinity Investment Partners, BBVA has led this round, which is still open to other shareholders of the company. BBVA has once again shown its support for the Atom project and team, of which it has been a shareholder since 2015 and which it has supported in all its share capital increases. BBVA is currently the main shareholder, with a 39% holding.
BBVA has reached an agreement to invest $300 million (about €263 million¹) in Neon, a Brazilian digital bank founded in 2016 that aims to improve access to financial services for individuals, self-employed and small businesses in its country. Neon has 15 million registered accounts. The investment takes place in a context of unprecedented technological disruption, with solid growth of digital and innovative models, particularly in financial services. In addition to a clear commitment to innovation, this investment allows BBVA to gain exposure to retail banking in Brazil, a market with one of the highest potential in the world.
Promoting open banking with APIs, retaining digital customers with artificial intelligence and enhancing traceability in logistics with blockchain are the technological solutions devised by five startups that have run pilots with BBVA Open Innovation. Now they are identifying their next steps to tackle the challenges ahead.
The BBVA Foundation Frontiers of Knowledge Award in Information and Communication Technologies has gone in this fourteenth edition to Judea Pearl for “bringing a modern foundation to artificial intelligence”. The Professor of Computer Science at the University of California (UCLA), has made contributions that enable AI programs to use two of the key resources we humans use to interpret the world and arrive at decisions: probability and causality.
The strategic alliance between the two entities has enabled the integration of Google Cloud into BBVA's technology platform. This collaboration is helping the bank reduce the time it takes to launch digital products, better detect cyber threats, make sustainability one of its core capabilities, and compete with digital fintechs.
BBVA will create 200 jobs in two years, with the launch of two technology centers in Bilbao. These centers will have specialized profiles such as computer, telecommunications, systems and industrial engineers, as well as mathematicians.