BBVA is shaking up the way it invests in fintech startups, closing its $100 million in-house fund and pumping $250 million into a new independently managed outfit called Propel Venture Partners.
BBVA has highlighted the role played by its digital transformation strategy in pushing the bank's earnings potential, saying that 19.2% of consumer loans in Spain last year were made purely through digital channels, double the number sold in the previous year.
Spanish bank BBVA now has 500 staff members working in small scrum teams to rush through the development of new projects, representing a five-fold increase over the past year.
The bank is launching the La Revolución de las Pequeñas Cosas (The Revolution of Small Things) campaign, where it will present some of the innovations that are changing the way in which customers interact with the bank, such as remote signature, activation and deactivation of cards, mobile payments or calls identified through the app.
BBVA Compass is teaming up with robo-advisor FutureAdvisor as it seeks to use technology to offer investment management services to a greater slice of its clients.
Spain's BBVA has poached Barclays chief design and digital officer Derek White, appointing him to the role of global head of customer solutions.
Scotiabank boss Brian Porter is bringing in former BBVA Bancomer CEO Ignacio Deschamps to advise on the Canadian lender's digital transformation strategy.
Mexico's BBVA Bancomer has become the first bank to commercially implement technology that replace static three-digit security codes with a dynamic CVV/CVC that changes every 20 minutes as part of its mobile wallet app.
Spanish bank BBVA has ploughed £45 million into the UK's Atom Bank, becoming the largest shareholder in the digital-only startup with a 29.5% stake.
BBVA Bancomer, the largest financial institution in Mexico, and Planet Payment, Inc. (PLPM), a leading provider of international and multi-currency payment processing services, today announced the signing of a multi-currency processing agreement and the launch of Planet Payment’s integrated payments hospitality solution for BBVA Bancomer merchants.
© Finextra Research 2016