BBVA has announced a partnership with Amazon; the partnership is first focused on selling physical products but it’s clear that...
BBVA has announced their Open Talent competition which is dubbed as the world’s largest fintech competition; the competition is in its tenth year and will focus on banking, data, money management and financial decision-making; the winner will take home $186,000 and finalists will take part in an immersion week which will show them how to work with a big corporate, become a customer of the bank and more. Source.
During a panel discussion at LendIt Europe in London representatives from leading incumbent lenders Lloyds Banking Group (LBG), ING, BBVA, HSBC, and Barclays discussed the challenges faces in the new digital world; topics discussed include cultural transformation, more power in the customers hands and trying to stay on top of the latest tech trends. Source.
Challenger bank Masthaven receives £60m investment Postal Banking Is Back — On Democratic Party Platforms — But Is It Viable?...
BBVA has invested in Sinovation Ventures as the fund can help to strike partnerships for the bank and they see the potential for strong return on investment; the focus on AI is helping the bank to keep innovating and offer mor potential services across their different regions. Source.
Spanish bank BBVA has reported $90 million in goodwill impairment charges related to its acquisition of digital bank Simple; the acquisition has caused many analysts to question the valuation metrics for digital banks; BBVA acquired Simple in 2014 for $117 million which was $1,100 per customer; a similar digital bank sale of BankMobile is currently being priced at approximately $50 per customer; despite the impairment charges for BBVA, the bank has reported success from its acquisition with continued investment in Simple helping to increase its workforce to 350 employees. Source
In this conversation, we chat with Chris Dean, who is the Founder & CEO at Treasury Prime. Previously, Chris was the CTO & VP of Engineering at Standard Treasury, which was acquired by Silicon Valley Bank for an undisclosed amount.
More specifically, we discuss all things banking-as-a-service, FinTech APIs, embedded finance, and the general evolution of the FinTech banking industry over the last decade.
We learned recently that UK digital bank, Atom Bank, is exploring new funding that could lead to a possible sale...
This week, we look at:
Embedded finance as a growing theme with the $10B Affirm IPO and Stripe's launch of Treasury
The customer types that each of these firms is attempting to convert into their product, and what this tells us about economic growth
A framework for understanding the emerging value chain of digital finance, and the role of platforms and marketplaces
A new study from Juniper Research notes that digital banking users will increase to 3.6 billion by 2024, a 54%...