BBVA takes pace at Fintech
BBVA takes positions in the hectic world of Fintech, as it is called the intersection between technology and finance. The Spanish bank is in the process of advancing technologically and before the end of the year has already made two important moves which will no doubt be the spokesmen for the start of 2017.
Buy one ‘startup’ Mexican online payment
Through its subsidiary BBVA Bancomer, it has acquired the Mexican startup Openpay, a company that offers a wide range of payment solutions and advanced online functionality for businesses, but has not made public the amount of the transaction.
Openpay is a payment service processor (PSP) for large companies and SMEs, to facilitate electronic commerce, including mobile devices. With a single integration, it combines a state-of-the-art platform, in real time, that allows you to receive payments with cards, in cash, with points of loyalty programs or via bank transference. In addition, Openpay uses advanced tools to prevent fraud.
Eduardo Osuna, vice president and general manager of BBVA Bancomer commented: “Openpay is the logical step for BBVA Bancomer to offer innovative and easy-to-use payment solutions. We are very happy to have the Openpay team on board and we look forward to working together.”
The operation will continue at the forefront payment systems and will have a very positive impact on customers. “This acquisition is an example of how Fintech and banking, jointly revolutionize the global ecosystem.”
BBVA is virtualized
The digital strategy of BBVA is chaining launches of new products and services to position the bank in a scenario in which the great Internet companies and the Fintech are more and more important.
One of the digital services or services is the distance signature, to be able to open accounts and contract cards, deposits, pension plans, investment funds, consumer loans and insurance without going through an office. BBVA Wallet allows you to pay with your mobile phone (including exclusive discounts for well-known brands) and the self-employed and traveling businesses can use their mobile phone for their customers to pay them through BBVA SmartPay.
The last of this virtualization has been the ‘High Immediate’, which allows you to open a bank account from your smartphone with a selfie and taking a photograph of your ID, in a process that is completed with the confirmation of identity by a manager Through a videoconference, all this lasting about 5 minutes.
With all these movements already carried out and managed by BBVA is located in one of the great promises and innovations in Fintech for the year 2017, I hope that as well as these new developments there is much more in the first quarter of the year. If something has made clear the executors of the Bank is that they seek to innovate more and more to achieve great power and technological reach.
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