Since June, asset management customers of BBVA in Switzerland can go online to contract any type of financial asset adapted to their risk profile. With “Click & Trade,” the bank advances its digitalization process, providing solutions that address its customers’ needs.
13 Jul 2018
Summer is synonymous with more time for reading. Here we provide 10 nonfiction titles that that will give you a broader view of a world in change.
Banks have clearly opted for financial technology, or fintech, to take on their new rivals, be they small startups or internet giants. However, the use of these technologies is more limited than it might appear. According to a study by the European Banking Authority (EBA), currently the majority of banks are focused on two lines of actions: biometrics for the identification and authentication of customers and the launch of mobile payment systems using NFC technology.
12 Jul 2018
Every year BBVA’s Open Talent competition sees an increasingly diverse range of entrants from all over the world, each of who is hoping to make business more effective through technology and the way it interacts with financial services.
11 Jul 2018
BBVA has announced the finalists of Open Talent, the world’s biggest fintech competition. This year marks the tenth anniversary of the competition, which has welcomed over 6,000 entries from start-ups in more than 80 countries since it launched.
The world of business is constantly coining new terms to name and categorize emerging concepts, ideas, technologies and activities that existing words struggle to convey. In this article we’ve assembled a list of relevant neologisms that will help you keep up with what’s happening in the field of digital innovation.
10 Jul 2018
BBVA keeps making headway in its transformation to become a fully digital organization. Madrid hosted a new quarterly global planning meeting where the company confirmed its commitment to materialize over 160 projects.
09 Jul 2018
The future of the financial sector lies in its seamless integration into all sorts of devices. Biometrics, APIs and chatbots… there is mounting evidence that we might be in the early stages of the new era of everywhere banking.
05 Jul 2018
Digitalization encompasses both a process and a habitat. As a process, digitization transforms analogue content. For example, converting the 1604 edition of ‘Quijote’ printed by Juan de la Cuesta into a digital ‘Quijote’. The content that was drawn, printed, or typed is input into a computer via numeric codes. The result can even simulate the original typography. But the letters that appear on the screen are, in reality, digits that the computer converts into images.
The word “gig” comes from musical jargon and refers to a performance by a musical group. When applied to the working world, the concept refers to sporadic jobs of limited duration. The person hired to do the job is responsible for fulfilling a specific role within a project.
03 Jul 2018
Artificial Intelligence’s greatest advances have yet to come, but the combination of big data with machine learning algorithms has already yielded benefits to the financial world daily operations.
30 Jun 2018
BBVA Compass Head of Business Development Pepe Olalla recently spoke with Bank Innovation’s Tatjana Kulkarni in an interview posted in two articles, Zelle and Insurance on the Roadmap for BBVA Compass’s Mobile App and How the Innovation Team at BBVA Compass Focuses on Needs, Revenue.
29 Jun 2018
28 Jun 2018
27 Jun 2018
A fundamental characteristic of today’s market is the extreme competitiveness with which commercial operations are developed. Business intelligence is key to getting ahead, but until recently in-depth BI development was difficult for small- and medium-sized businesses to adopt. Today, this has changed thanks to data and APIs like PayStats, which can be found in BBVA’s API_Market.
25 Jun 2018
BBVA’s Global Head of Customer and Client Solutions, Derek White, has been interviewed by leading Spanish newspaper Expansión.
The Spanish National Securities Market Commission (CNMV), BME and a group of financial institutions formed by Banco Santander, BBVA, BNP Paribas, CaixaBank, Commerzbank and Société Générale, have been collaborating over the past year on a project called Fast Track Listing (FTL), which is based on blockchain technology.
Over three days experts in finance, fintech and technology debated in Salzburg (Austria) the import of the challenge posed by technology for the economy and the financial sector. The disruption brought on by the massive adoption of new technologies has quickened the pace of change facing institutions. They also face the task of attracting customers in an environment in which there is much more supply.
22 Jun 2018
21 Jun 2018
20 Jun 2018
Two years ago, when BBVA defined its company purpose —to bring the age of opportunity to everyone— it also decided that the best way to reach this ambitious goal was to transform itself into an agile organization. Ricardo Forcano, BBVA’s Global Head of Talent & Culture, addressed more than 1,700 participants at the National Human Resources Congress where he shared the milestones of a journey that has revolutionized the way BBVA works.
“Hi, how can I help?” They are only five simple words, but there was nothing simple about what followed when Google presented Google Duplex at its recent I/O conference recently. Google Duplex is an ‘intelligent’ AI-led voice assistant tool that is capable of executing simple voice calls, such as making restaurant reservations or hairdresser’s appointments. It sounded so realistic and human that the person on the other end of the line in each demo was seemingly unaware that they were speaking to a machine.
14 Jun 2018
We are witnessing the birth of a new generation of consumers. The latest generations – “millennials” and “centennials” – and those who are no longer so young but have quickly migrated to the new technologies, are setting the course for the economy in general and for banking in particular. Their new patterns of behavior and consumption create needs that change as quickly as the digital environment. It is essential that banks understand these needs so that they can help their customers make better financial decisions.
13 Jun 2018
Amid the apparent decline of physical shops, new technologies are offering new opportunities to future consumers who will continue to visit stores, but with the help of artificial intelligence on their smartphones.
07 Jun 2018
Consensus, the Coindesk conference held a week ago in New York, once again showed expectations generated by blockchain and cryptoassets are at their height. More than 8,400 professionals and investors attended the event, which last year had 2,200 visitors.
06 Jun 2018
Ben Hammersley – currently the editor of Wired.uk – is credited with coining this term: a combination of iPod and broadcast. A podcast is a set of digital audio files making up a series of episodes that can be downloaded onto a variety of devices.
05 Jun 2018
01 Jun 2018
This post in 10 seconds
In this post we will address software dependency management: the security problems it implies, how to automate its management, receiving new vulnerabilities alerts in real time and how to implement a productive and satisfactory system using new Open Source tools as Deeptracy and Patton.
30 May 2018
Forrester analyst Martha Bennett shared with BBVA her view on the current uses of and potential of blockchain. According to this expert, this technology is comparable to the mobile phone and the internet in the 1990s when already “usable” but far off reaching full potential.
28 May 2018
Novels, movies, articles … much has been written about the future. From Jules Verne’s famed Journey to the Center of the Earth to flying cars that promise to revolutionize commuting. With the passage of time, ideas that seemed outlandish in the past have become a reality, causing us to think that ideas that seem impossible just might materialize.
25 May 2018
BBVA has received another international award for its commitment to open banking. Trade publication Retail Banker International, which is part of the British platform Verdict, has given the bank the award for the world’s Best Open Banking services.
In the future, artificial intelligence will, among many other things, allow to develop helpful customer products for unbanked segments of the population. “Artificial intelligence and financial technologies create opportunities for the democratization of finance,” said Álvaro Martín, Head Economist of Digital Regulation and Trends at BBVA Research, during the meeting of the Institute of International Finance (IIF), held in Brussels. In his opinion, “artificial intelligence, big data and cloud computing will boost financial inclusion”.
23 May 2018
José Manuel González-Páramo took part in a panel discussion on the future global financial regulation at the spring meeting of the IIF (Institute for International Finance) in Brussels. In his opinion, the new regulatory framework should be based on five pillars: 1) focus on risks and activities rather than institutions themselves, 2) have an holistic approach, 3) be transversal and coordinated, 4) be flexible y 5) have a skeptical approach to technology with regulators focusing not on technology itself but on its use and effects.
Technology serves to create opportunities and also solve problems in the public sector. However, because of its many peculiarities, the pace of innovation is different, and its implications are more profound.
22 May 2018
21 May 2018
Generation T refers to those born from 2010 onwards. These are children who know the world through a digital screen and what is more important through touch. Hyperconnectivity, speed and instantaneousness are some of the words that go along with these children as they grow up.
18 May 2018
He holds an undergraduate degree in physics. He’s the founder of Tesla, SpaceX and Neuralink, among other companies. He’s championed renewable energies, online payments and the space race. Elon Musk’s impressive resume brims with professional and economic success. What initiatives have made this entrepreneur one of top innovators of the 21st century?
15 May 2018
BBVA CEO Carlos Torres Vila said this morning in Mexico that “digitization is having a huge impact on customer satisfaction,” resulting in higher levels of engagement. “Digitization is helping customers interact more with us, and they are more satisfied and loyal. This new way of interacting is a powerful lever that is transforming our value proposal, allowing us to help our clients with their lives and businesses in a deeper way,” he added.
11 May 2018
08 May 2018
BBVA has today launched an innovative new global payments system that includes cards, alternative payment forms and a fraud-prevention tool.
04 May 2018
Creating a startup isn’t the exclusive territory of new entrepreneurs or young people with moneymaking ideas. Big technological companies and their CEOs have recognized how to spot potential in emerging companies, buying them outright or overseeing the development of their growth potential.
03 May 2018
The consultancy Accenture analyzes the inroads made by big tech in the financial sector and identifies five key steps banks need to take to create value in the face of advances made by fintech companies. BBVA’s focus on open banking and transformation in the digital era has been acknowledged by a number of institutions.
30 Apr 2018
The spread of artificial intelligence will have positive and negative effects. In order for the former to outweigh the latter, companies, politicians and social groups should gave some thought to this and act accordingly.
26 Apr 2018
DLT and blockchain share a conceptual origin: they are digitalized and decentralized log books of record. Often the terms are confused, but they are differentiated by an unshared set of specific features.
25 Apr 2018
Derek White heads BBVA’s Global Customer Solutions area and leads the delivery of the digital transformation of the bank to support the achievement of BBVA’s strategic purpose of bringing the age of opportunity to everyone.
Adapt or die. An emphatic statement, but one that perfectly captures the spirit that drives startups. The search for innovation is often what characterizes these entrepreneurs, who now how to seize the opportunities enabled by new digital technologies linked to an innovative business idea.
24 Apr 2018
The streets of New York’s Chinatown, Granada’s Sacromonte neighborhood, or Southall (London’s Little India) are examples of how people tend to live near others from the same place or social status. But businesses, restaurants, and bars are just as important meeting places as where we live. Esteban Moro, Professor at Universidad Carlos III and MIT (Massachusetts Institute of Technology), uses big data tools to analyze how people interact in these places.
23 Apr 2018
José Manuel González-Páramo, BBVA’s head of Global Economics, Regulation and Public Affairs, presented the bank’s blockchain strategy at the IIF’s meeting in Washington before regulatory officials of the finance sector. A strategy based on a pillar called the three E’s: Execution, Ecosystem, and Experience.
18 Apr 2018
The fintech sector attracted $31 billion dollars in investment last year, with growth in the sector underpinned by venture capital, accelerators and consolidated companies. BBVA maintains an active strategy of investment, acquisition, tie-ups and the incubation of new companies in the sector.
With a little under a month to go until the world’s biggest fintech competition closes for entries, BBVA Open Talent has unveiled a new incentive to enter.
16 Apr 2018
The Walkman, MP3s, outdoor music festivals, intimate music venues, special meet & greet passes… Some ways to listen to music have endured, while others have evolved over time, and still others have disappeared. What is clear is that this art form has cemented its position online. It seems music triumphs in both hearts and web pages.
14 Apr 2018
In an interview with Spanish daily ‘El País’ from Silicon Valley, BBVA Chief Executive Officer says that “data belongs to customers and can only be used with their consent.” In comments to ‘El País’ Carlos Torres Vila also advances that BBVA is exploring the use of blockchain in corporate loans. This technology has the potential “to add a lot of transparency, efficiency and immutability, and offers a wide array of other possible uses.”
11 Apr 2018
Some of the senior leaders from BBVA this week attended the Propel Venture Partners CEO summit in San Francisco.
09 Apr 2018
What happens when an artificial intelligence system recommends a movie or a restaurant? Or a financial product? To what extent can an algorithm get to know people? These and many more questions were raised during the presentation of the BBVA’s Data and Analytics project ‘RecSys, a recommendation in the era of machine learning’, which brought together experts from diverse fields (cinema, design, law and gastronomy) to discuss how society is changing with the arrival of these technologies.
06 Apr 2018
There are a few Container Orchestration Engines available, such as Kubernetes, OpenShift, DC/OS, Nomad or Swarm, to name a few. On occasion, the optimal solution to deploy your apps requieres picking not one of those, but two or more. Each have their strenghts, and are targetted toward a specific kind of load. For instance, Kubernetes is specially prepared to deploy microservices very dynamically. However, in such a dynamic environment it is hard to handle a persistent database, task which is better handled by system such as DC/OS.
05 Apr 2018
In an imperfect world, new technologies offer an opportunity to make certain improvements that benefit society. Blockchain, the driver of the new tech revolution, promises to help in solving key data traceability and transparency issues.
03 Apr 2018
Finding funding is the main concern of the fintech sector in meeting growth and expansion targets, according to a new report published by the London Stock Exchange Group and TheCityUK. However, collaboration with big financial institutions on the basis of initiatives such as BBVA Open Talent is becoming increasingly important as a means of gaining presence in the market and driving fintech growth.
02 Apr 2018
The fifth generation of mobile phone networks is essential for the internet of things and self-driving cars to become a reality but before that operators need to assure themselves that the rollout of the network will be profitable.
27 Mar 2018
This week in London, BBVA hosted a roundtable at the Innovate Finance Global Summit. This year’s event, held at the historic City of London Guildhall, brought together forward-thinking global leaders from seed stage start-ups to global financial institutions and professional services firms.
23 Mar 2018
With over 150 startups registered in less than two weeks, the search continues for the best ideas, projects and solutions with the greatest potential to transform the future of financial services.
22 Mar 2018
Openpay, which is part of the BBVA Group, has forged a new partnership with Alipay, the leading digital payment platform in China. The deal means Chinese tourists and visitors to Mexico can now pay for things using the Alipay platform, which is hugely popular in their home country.
21 Mar 2018
What happens when you choose a restaurant on the Internet? Or when you want to buy a book? Or find a song? Or get hooked on a new series? BBVA Data & Analytics in a new item for dissemination explains how the different recommendation systems used by Amazon, Netflix, and Spotify work and how they will extend beyond the consumer and entertainment sectors.
19 Mar 2018
BBVA is developing payment methods based on biometric technologies to make checkout at stores ‘invisible’. It is already being used in cafeterias and restaurants at Ciudad BBVA. More than 1,000 employees already use an app to automate payments and testing has begun on a biometric facial recognition system based on technology from the startup Veridas, a JV of BBVA and Das-Nano in 2017.
16 Mar 2018
The movie ‘The Social Network’ (2010) tells the story of Facebook, a social network community initially only used by Harvard students. Less than thirteen years later, the social network numbers 2 billion active users per month. A small group of “giants” control the majority of Internet communities, but what about other social networks that are attractive to different niches?
14 Mar 2018
Derek White, Global Head of Customer and Client Solutions at BBVA, took part in Money 20/20 Asia, the landmark event for the fintech sector, where he shared his take on the debate of who will corner the banking business in the future: Banks or Big Tech?
13 Mar 2018
The ‘Design Ambassadors’ program, which has already reached its first milestone on a global level, was set up with the idea of creating hybrid employee profiles capable of applying the principles of design thinking in BBVA’s different business areas worldwide.
09 Mar 2018
IBM, Microsoft, Google, Amazon… It may not seem like it, but corporate juggernauts are not the only players working to take AI to the next level. ‘Startups’ from across the world also have a lot to say in the future of smart machines.
08 Mar 2018
BBVA’s digitization process in South America solidly advances. At the end of January 2018, 49.9% of customers in South America interacted with the bank via digital channels. This represents an increase of 26% from last year’s figures. The increase stands at 43% if we reference customers who connect using mobile devices. “BBVA’s mobile banking has seen such intense growth that it indicates where the consumption habits of the bank’s customers are going. That’s where we’ve been headed for some time now,” explains Antonio Bravo, director of Business Development and Digital banking for BBVA South America.
06 Mar 2018
At BBVA Labs, we have been using Akka Actors in different projects for a long time due to its inherent computation distribution capabilities in high load scenarios, using actors as stateless or stateful units of execution that send messages among them in an asynchronous fashion.
In this post, we will cover some of the weak points of working with untyped classic actors and we will show what are the benefits that Akka Typed brings to the scene. Finally, we will present a brief description of session types and the Process DSL API created by Dr. Roland Kuhn. All examples are written using the Scala API.
05 Mar 2018
BBVA Open Talent, the world’s biggest fintech competition, will this year mark its tenth anniversary by working with more start-ups than ever before.
Find out more and register for Open Talent 2018 here.
02 Mar 2018
BBVA’s drive towards delivering a world class digital banking experience has taken another step forward. Over the past year the bank has seen an almost twofold year on year increase in the number of products and services its customers and clients are taking-up via digital channels.
Fair-trade coffee, quality guarantee, ecological tomatoes… consumers read the labels on the things they eat. But is there any way of checking that what they say is correct? In order to do so, you would need a register of the processes to which the product has been submitted, something blockchain can do.
28 Feb 2018
Digital identity is the online version of an individual’s physical identity. It consists of all of the individual´s personal data that is available online —not just an email or physical address, but also pictures, banking info, shopping preferences. This identity is not uniform, as we share different attributes in different platforms. In other words, we don’t share the same type of information on LinkedIn and Facebook, for example.
27 Feb 2018
26 Feb 2018
The “proptech” companies and the most innovative financial institutions are already offering services that improve the customer experience in the real estate sector.
23 Feb 2018
BBVA today launched its new BBVA for Everyone app, available for both iOS and Android operating systems, which enables the blind and those with physical or mild mental disabilities to use the bank’s network of over 6,300 automatic teller machines (ATMs). This new tool will guide those with visual disabilities to the ATM of their choice and help them withdraw cash. BBVA is a pioneer in this type of mobile solutions, which complement the services already available for people with disabilities on the web and corporate apps.
The versatility of its famous multi-use knives and the precision of its watches have given Switzerland the reputation of being one of the most innovative countries on the planet. The Alpine country has a long tradition of inventions that have helped improve our day-to-day lives. Inventions such as the ‘Rex’ vegetable peeler and the well-known coffee capsules show how Swiss talent has been able to adapt itself to society’s new needs and contribute to its development.
22 Feb 2018
Brussels attempts to organize member initiatives through the creation of the Blockchain Observatory—a technology the EU has invested in since 2013 through its Research and Development programs.
21 Feb 2018
Since it was launched in 2016, the FCA’s regulatory sandbox has supported 60 firms to test their innovation with real customers in the live market under controlled conditions. Now, it is assessing different options to scale up the model at global level to solve the challenges of operating internationally in the fintech market.
In a fast-paced world, Swiss financial institutions are well-prepared to lead the transformation of the finance industry, particularly in private banking, where they are a clear reference in the world. The combination of accumulated experience, talent and availability of capital are decisive factors to facilitate this change.
20 Feb 2018
The head of the BBVA Data & Analytics’ Edge team, José Antonio Rodríguez-Serrano, who coordinates the innovation area in BBVA’s center of excellence in data science, shares his insights into five key questions to understand the implications of this exponential technology in different economical sectors and spheres of society.
19 Feb 2018
Four members of BBVA’s design team were invited to participate in Interaction18, the biggest technology and design event in France, to explain how design contributes to organizational change.
15 Feb 2018
When San Francisco comes to mind, so do connotations of entrepreneurship and innovative thinking. So when BBVA decided to set up a course on entrepreneurship for some of the bank’s best Global Wealth clients, Northern California was its top choice.
14 Feb 2018
13 Feb 2018
As we have seen in previous articles, the intelligent use of data, with the right talent and the pertinent business strategies for applying creative solutions, can provide insights that help solve a whole gamut of problems and take on board new opportunities. Data places within our grasp an enhanced decision-making ability and a deeper understanding of our clients and what they need. But as in the case of any other tool, these new skills can be put to positive or not so positive use, whether intentionally or not.
12 Feb 2018
The use of virtual assistants, mainly in the form of smart speakers, is rapidly gaining ground. In less than a year, devices such as Echo and Google Home have appeared in households across the globe and users are becoming increasingly comfortable carrying out searches, purchases and even bank transactions using this format, which looks set to become the transactional interface between customers and companies.
09 Feb 2018
07 Feb 2018
Smart speakers are the vanguard of the so-called environmental technology, which transcends the limitations of screens. For the moment, Amazon reigns supreme over a market in which Apple is about to disembark.
06 Feb 2018
PSD2 and GDPR are no longer strange-sounding terms. After digital regulation caught the attention of supervisors and financial regulators in Europe during 2017, it doesn’t look like 2018 will be any different, according to the Financial Regulation Outlook report from BBVA Research.
As BBVA Research points out, the digitization of finances offers opportunities and challenges not only to financial service providers and customers, but also to regulators and supervisors. Therefore, the “regulation and supervision frameworks need to evolve and adapt” to the new environment.
02 Feb 2018
Nothing escapes from the whirlwind of digitization, not even a sector as traditional as the winemaking industry. The number of startups dedicated to improving the way this centuries-old alcoholic beverage is produced, marketed and enjoyed keeps growing. In this article we take a look at some of the most-talked about companies.
31 Jan 2018
We inferred as much in the title to the first article of this series: to key to realizing all the opportunities of this new technological era, lies in these three factors: raw material—data—and the other two are human factors—intelligence and innovation.
Probably the first thing the philosopher would do would be to create a strategy to explore it. Just like when he designed a user’s manual for the human mind with Logic or when he developed a method of thinking critically to examine metaphysics. Aristotles “tried to show that all things in nature belong to certain groups and subgroups,” writes Jonstein Gaarder in Sophie’s World. But first, he counted up the tools he had for this task.
30 Jan 2018
Concepts such as big data, machine learning, artificial intelligence and data science are increasingly at the center of the debate about the digital revolution. But why is everyone talking about them? Do we really understand these concepts, or the implications they have on our evolution as a society?
26 Jan 2018
Urban planning in the 20th Century was developed on the basis of the traditional concept of a car with a driver. The arrival of self-driving cars will make it necessary to rethink the design of cities and their suburbs.
25 Jan 2018
24 Jan 2018
At BBVA, new digital solutions for customers are constantly being developed. The bank´s affiliates in Mexico, Peru and Chile are launching new tools for personal finance, implementing the use of the digital signature for contracting loans, and adding new functions to their cell phone apps.
23 Jan 2018
BBVA is committed to working with the fintech community in a way that delivers real benefits for the start-ups, the bank and of course customers and clients.