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Spanish banks have been focusing on going digital to help keep ahead of competition; banks like Santander and BBVA have improved their mobile app access and started innovation teams to invest or partner with fintech companies; they have also changed their culture to better resemble a startup and have started talent competitions; while the banks have had their share of issues the digital focus can help to drive down costs and keep the banks ahead of the curve. 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
Spanish bank BBVA and leading UK venture capital firm Anthemis have announced a joint seed investment of £1 million in...
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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
In the last few years banks have started to retrain employees on how to use various new technologies so they...
Spanish bank BBVA has acquired Openpay; fintech startup Openpay is a payment service provider that will help to facilitate real-time payments and transfers for BBVA; according to Openpay Co-Founder Roberto Bargagli: "This acquisition shows BBVA's commitment to digital transformation and it is an example of how fintech firms and banks are going to revolutionize the global ecosystem together. We will work with tremendous enthusiasm to take advantage of this huge potential." Source
BBVA launched the "fintech games" in the search for the most innovative startups; the finalists for the Open Talent FinTech For Companies Challenge include Bitbond, Cardlife, RedCapital, B2Bpay, Akoni, PayBlocks, Asteria, Invoice Capture and MyFinB Holdings; the companies hail from countries all over the world and the competition closed on July 17; according to BBVA, "After eight years of focusing purely on seeking out the fintech firms that are transforming the Financial world, this year at BBVA Open Talent we are broadening the competition as we continue searching for talent and collaboration." Source