BBVA match-making platform is now live to bring together fintechs and businesses that share the same goals.
The Open marketplace now supports 150 members. Through the BBVA match-making platform, fintechs are able to connect directly with BBVA business units.
Similar to a dating app, both the fintechs and the businesses create profiles describing their initiatives and services.
An open marketplace to drive collaboration
Using a search tool, a directory of profiles and a match-making system, the platform connects the services offered by fintechs and the needs of BBVA business units together. Potential partnerships grow and create new platforms together.
In an open and ever-more connected world, a platform to join organisations together is essential.
As the name indicates, the platform is an open marketplace. It’s platform holds ideas that puts fintechs in the groove of what the market needs.
Elena Alfaro, head of data and open innovation at BBVA, explained:
“The new platform provides companies with the potential to change the future of banking the opportunity to work on real problems that face the sector on a day-to-day basis. Also, to work together with BBVA’s experts to find solutions,” explains”
How does the BBVA match-making platform work?
Both fintechs and the bank’s experts need to sign up and create a profile. On there they explain on the one hand the needs of business units and on the other what solutions they can provide fintechs.
Some examples of companies already working with BBVA on the platform are offering solutions for fraud detection through user activity on mobile phones. Moreover, automated PFM solutions based on artificial intelligence technology, among others.
Whether it has to do with creating a new process for signing up customers or creating a new service based on blockchain, there is room for all ideas and solutions that improve, speed up and broaden the opportunities of banking.
Earlier this month BBVA launched Bconomy, a tool that allows products contracted by customers with other banking institutions to be added to the BBVA app.
Furthermore, Bconomy launched to measure customers’ income and spending patterns, as well as savings and debt levels.