Millennials do not intend to go into a branch in their lives. They’re used to taking out all services online and want to have the same facility with banks. But, as highlighted in the BBVA Research article “Digital contracting of financial services: electronic identity as a key element” there is no regulatory framework allowing banks to remotely verify the identity of new customers.
BBVA invests in the best digital financial services startups. The bank has announced that it is expanding its Fintech fund up to 250 million dollars and the agreement with Propel Venture Partners (Propel).
Propel Venture Partners (Propel) is a new independent venture capital (VC) firm investing BBVA’s money in the startup companies that are using technology to change financial services for the benefit of the customer. Propel intends to be the go-to VC firm for entrepreneurs looking for a long-term, supportive partners as well as capital. Here are seven things you need to know about Propel:
The measurement of the Corporate Social Responsibility (CSR) initiatives and programs is acquiring an increasing relevance in companies. For the last four years, BBVA has been using the rsc2 methodology, proposed by McKinsey and developed in Spain with the Seres Foundation, to measure the social and financial impact of its actions in this field. The results of applying this methodology is revealing very valuable information to better manage these actions and contribute to them really being sustainable.
A group of researchers at the Carlos III University in Madrid have developed a prototype of a tool that combines virtual reality with a movement sensor for exercises for the rehabilitation of the shoulder.
Mexico remains the most attractive market for Spanish companies, according to the “Multilatina puntocom” report from IE Business School, stating that 89% of all companies polled hoped to establish a foothold in Mexico over the next 24 months, or are already operating in the country.
Financial technology is taking root. At an event hosted by the BBVA Innovation Center it came to light that fintech (financial technology) in Spain is a reality and that it still has time to decide its future.