Spanish bank CEO Carlos Torres Vila of BBVA spoke at the IESE 12th Banking Industry Meeting yesterday and explained how banks will need to adapt to stay competitive; BBVA has acquired cloud computing, invested in digital banks, built out artificial intelligence and improved their mobile banking experience in recent years; these changes are meant to address customer needs and position the bank for the future; he also believes banks need to adapt management structures to be more modular, which will also bring more innovative talent and facilitate better communication. Source
Yesterday BBVA launched their new mobile app, called Mobile 9.0; the multinational bank localized the app for each country and...
Anyone watching Fintech over the last decade has recognized an increasing shift of power from product manufacturers to the platforms where those products are sold. In the case of Amazon, Google, and Facebook -- finance is just a feature among thousands of others. I've made this point since 2017, when Amazon launched lending into its platform. Brett King has been a bit more generous in the categorization, calling the shift "embedded banking". This means that banking products are built into you life's journey, not accessed in a separate customer center location. The financial API trend is a tangible symptom of this vector.
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Atom Bank has raised $102 million in new capital from Spanish bank BBVA who also led a previous funding round in 2015; the company plans to use the funding for business and product development including lending services; the digital bank's current products include: Fixed Saver accounts, mortgages, and secured loans for small and medium-sized businesses; the company is also reportedly working on another funding round and is currently valued at approximately $320 million. Source
Continuing with its fintech acquisition strategy, BBVA has acquired Openpay; Openpay is a Mexican B2B payments platform with more than one million transactions per month; with the new support, Openpay will seek to triple its transaction volume. Source
BBVA is well known for being a leader when it comes to adopting new technology; back in 2011 they sought...
In an op-ed in the FT, the chairman of BBVA, Carlos Torres Vila, argues for the expansion of European open...
It was last November when we first heard that Prosper had plans to expand their offerings from personal...
BBVA subsidiary Simple is launching a new product that many would say goes back in time, paper checks; “We heard...