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Innovation

Innovation

Garanti BBVA Digital Assets, the first initiative of Garanti BBVA Financial Technologies Inc., is now offering crypto wallet service on its mobile platform. This marks the first time in Turkey that a bank subsidiary has developed and implemented a crypto currencies wallet with its own resources. Garanti BBVA Digital Assets now allows customers to transfer and store bitcoin (BTC), Etherum (ETH) and USD coin (USDC) assets on its mobile platform, Garanti BBVA Crypto.

Web components are a set of features that allow the creation of reusable elements in web pages and applications. When developing, you get fast and efficient delivery of consistent, high-quality user interfaces for all platforms. But creating web components can be tedious and repetitive, so how can we improve it? The use of some tools or libraries such as Lit makes it possible to speed up and optimise the process.

In a bid to protect its customers from telephone scams, Garanti BBVA has launched a new  feature in its mobile app to reassure customers that the calls they receive from the bank are being made via the bank’s secure channels. When taking a call from somebody claiming to represent the bank, the customer can track whether the caller is genuinely from Garanti BBVA and can see the name of the caller on the alerts screen in the mobile app.

After years at the forefront of artificial intelligence (AI)-based research and projects, BBVA has taken another big step forward in the use of generative AI in its main markets. Not only has it prioritized around 100 projects to be developed with various tools that employ this new technology, it has also signed a strategic agreement with OpenAI —the creator of ChatGPT— to start deploying this cutting-edge tool among its employees. The aim is to explore, in a safe and responsible way, how generative AI can expedite processes, improve productivity and foster innovation thanks to its abilities to create text and images and process information, among other features.

Garanti BBVA, a leader in digital payment innovation in Türkiye, has introduced the country's first biometric verification card, the Bonus Platinum Biometric Card. This groundbreaking product, described as a "game-changing technology" in payment systems, enables users to make quick, unencrypted, and secure payments by scanning their fingerprints. It also allows for limitless secure contactless payments, setting a new standard in the industry.

Digital channels have become the main way banks interact with their customers, both to check information and to carry out any kind of transaction. In this context, biometrics are gaining ground as they are a safe way to verify that customers are who they say they are. “At BBVA, there are over 40 use cases on a group level in which customer identity must be identified by biometrics, one of the most secure ways to prevent fraud,” said Natalia Ortega, Global Head of Financial Crime Prevention at BBVA.

BBVA completed a successful pilot test of distributed execution of quantum algorithms across multiple conventional servers in the AWS cloud. BBVA's pilot, one of the first of its kind in the financial sector, provides the bank with a proprietary architecture to further explore the use of quantum computing in complex financial tasks.

Payments infrastructure company EBA CLEARING successfully completed the first pan-European proof of concept for the R2P (Request To Pay) service. This digital messaging service is designed to streamline collection processes and can help boost instant transfers and electronic billing in the region. BBVA and seven other multinational payment service providers took part in the trial. They proved capable of exchanging payment requests in milliseconds.

In the past two years, BBVA added 7,187 professionals in the data and technology field to its workforce - a figure it plans to increase in 2024 with 2,700 new hires. Of this amount, 1,225 will take place in Spain for the bank’s headquarters in Madrid, Bilbao and Barcelona. Technology talent has become a key aspect of the Group’s digital strategy.

The global financial services group Banco Bilbao Vizcaya Argentaria, S.A. (BBVA) signs a Strategic Whole Portfolio Agreement with Cisco. The agreement gives BBVA access to Cisco’s full software portfolio, world-class technology and Customer Experience (CX) services, supporting the bank’s digitization journey. Five-year agreement enables BBVA to integrate continuous innovation into daily operations, enhancing speed, agility, and offering the latest in digital financial services.

New clean technologies, or 'cleantech,' will play a key role in the decarbonization of the economy. To make this possible, however, the private sector must make a firm commitment to the sustainable agenda, leading to decisive, long-term investment in firms that develop clean technologies. These were the points emphasized by speakers at the 3rd BBVA Sustainability Forum, which the bank held in the auditorium of Ciudad BBVA, Madrid, Spain, with a livestream feed. 'Opportunity' was a key word in almost every speech.

The Turkish central bank recently granted Garanti BBVA an operating license for its new subsidiary, Garanti Payment and Electronic Money Service, Inc., effective February 15, 2024. The innovative new company will begin offering a selected group of customers a beta version of its digital payment solutions under the TAMİ brand in March.

BBVA’s app is the main channel customers use to contact the bank. Over 75 percent of customers around the world use the app. With this level of outreach, the current challenge for BBVA entails getting customers to use the new features and do more mobile transactions. To achieve this, the bank has developed a strategy to improve the digital intensity of its customers, with which it has increased interactions on the app by 32 percent in just one year, largely driven by the financial health services.

BBVA is looking to spot and train the best in-house talent in the use of the large language models (LLMs) that are behind the success of the likes of ChatGPT, as it drives the exploration of projects based on generative artificial intelligence. To succeed in this task, it recently organized a DataRally, a competition in which some 440 employees tested their ability in interacting with one of these models. Impressed by the positive feedback received from participants, the bank may now apply the DataRally concept to the generative AI courses it will be running as part of its Data University in-house training program.

Data is a strategic lever for BBVA, which has been working for years to make it accessible across the entire organization so that it supports every business decision. In this endeavor, Domo has become an essential tool, as Elena Alfaro, Global Head of Data and Advanced Analytics in Client Solutions at BBVA, explains in this new success story, which showcases the value of this platform in monitoring progress toward strategic objectives, spotting trends and enabling the bank to swiftly tailor products and services to customer needs.

BBVA Switzerland has signed an agreement to collaborate with the blockchain company Metaco to host its digital asset custody service, a trailblazer in Europe, on the  Harmonize™ platform. With this agreement, the bank is embarking on a new stage in its crypto strategy, characterized by the highest standards in security and greater agility in transactions. In addition, it opens the door to BBVA expanding its range of services in the future in order to meet the needs of its institutional clients.

ONE is the new software development culture at BBVA. Thanks to this initiative, over 15,000 developers will work in a more coordinated, collaborative manner, sharing best practices at the bank and in the industry with the goal of creating solutions that best meet customers’ needs.

In 2022, more than $3.8 billion worth of cryptocurrencies were stolen. Traditional banks are therefore regaining ground to become service providers as custodians of crypto assets. This was the position advocated during the event hosted by El Confidencial by Alfonso Gómez, CEO of BBVA Switzerland. For more than two years now, BBVA Switzerland has enabled its customers to manage bitcoin, ether, and the rest of their investments from the online banking app.

Image: Alfonso Gómez, CEO of BBVA Switzerland, with Javier Molina, from El Confidencial, during a moment of his talk. /El Confidencial

Atom Bank, the UK’s first app based bank, has again received support from its long-term shareholders. BBVA, Toscafund and Infinity Investment Partners are participating in a new capital round of £100 million, about €115 million¹, to continue its growth in mortgages and loans to SMEs. Following this round, BBVA remains Atom’s leading shareholder.

BBVA has announced the creation of BBVA Technology, a new company that is to gather the experience and talent of the Group's three tech firms: BBVA Next Technologies, BBVA IT España, and Datio. The new company will have a more strategic focus while offering more career development opportunities for the bank’s tech teams.

IBM Institute for Business Value interviews Carmela Gómez on the opportunity that embedded finance brings to banks, digital platforms and consumers. The Global Head of Open Banking at BBVA states that embedded finance means a joint transformation of the entire ecosystem, both financial and non-financial, and that for its development to materialize, "we must look at the way in which our customers rely on interacting with financial services within their digital experiences. I believe banking will soon become very different from how we know it today, that’s why we need to fund this transformation now."