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Innovation

Innovation

Wired Money Together with BBVA 2016

Wired Money, Together with BBVA is opening its doors at the British Museum in London the same day the British will vote in the referendum. While they decide whether the U.K. will remain in the EU, fintech firms will once again be in the limelight in the capital at an event on “innovation and new ways of thinking” in the words of Greg Williams, Deputy Editor of British edition of WIRED and curator of Wired Money.

BBVA CEO Carlos Torres Vila explained this morning that “banking technology will improve customer relations.” The CEO added that “BBVA has redefined its customer relations, moving from an infrastructure that was focused on money to accompanying customers in their professional and personal lives, helping them make the best financial decisions.” Technology allows us to bring the age of opportunity to everyone, he maintained.

The possibility of obtaining more efficient algorithms than people is not science fiction. It’s an area of work that has recently been making major progress and is now being applied to the financial industry, as confirmed at the roundtable on artificial intelligence and machine learning at the last IIF Spring Meeting’s, held in Madrid and sponsored by BBVA.

Only 26% believe that organizations and businesses comply with personal data protection regulations, according to Vodafone Institute’s report, presented during the ‘Big Data: Limitless opportunities?’ forum, co-organized by El País and Data Pop Alliance. Although in general terms, Europeans are wary about how organizations use their personal information, 36% of respondents said they trusted banks, compared to the 16% and 11% that said they trust search engines or social networks, respectively.