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BBVA and Ripple complete blockchain cross-border money transfer pilot

BBVA and Ripple in blockchain cross-border payments trial

BBVA has announced the completion of “the first real-life implementation of an international money transfer using Ripple’s new distributed ledger technology (DLT)”. The transaction, which ran on BBVA infrastructures with real money, resulted in money moved between Spain and Mexio “in a matter of seconds”.

Simple’s move to new bank API leaves some customers stranded

Simple

Simple, a US-based digital banking service founded in 2009, has discovered that moving accounts to its parent bank’s application programming interface (API) is not that simple.

BBVA joins Hyperledger blockchain project

Hyperledger 1

BBVA has become an official member of the Linux Foundation’s open-source collaborative blockchain project Hyperledger. The bank joins American Express, the Bank of England, SAP, Wells Fargo and Thomson Reuters. BBVA is already a member of R3, which is also participating in Hyperledger, and of the Ethereum Enterprise Alliance, which supports the creation of blockchain […]

BBVA launches fintech challenge for start-ups

BBVA

BBVA has launched the ninth edition of its “Open Talent” fintech competition – and is looking for start-ups from across the globe. The Spanish bank says this year its programme has grown from one competition to five. It will be hosting three focused world-wide competitions, more than a dozen country-specific opportunities, two specialist challenges for […]

BBVA automates UK risk and reg reporting with Wolters Kluwer’s OneSumX

Wolters Kluwer gains new client for OneSumX

BBVA’s subsidiary in the UK has opted for Wolters Kluwer’s OneSumX solution for regulatory reporting and liquidity risk management.

BBVA writes down $89.5m for Simple in three years since $117m acquisition

Image source: Simple

BBVA Compass has unveiled a “goodwill impairment” charge of $60 million in its latest financial results, attributed to its direct banking service subsidiary, Simple. BBVA bought Simple in 2014 for $117 million. It has since written down $89.4 million.

BBVA first in Spain to launch full account opening via mobile; ties up with Salesforce

BBVA

BBVA says it is the first financial institution in Spain to launch online onboarding via mobile, which allows anyone to open an account in “just a few minutes”. A customer’s identity is verified through a selfie and a video call. Users can open an account at BBVA through their mobile phone by going to its […]

BBVA favours Amazon Web Services for cloud drive

BBVA

BBVA has reached a global agreement with Amazon Web Services (AWS) as it looks to cloud computing to boost its digital banking services. The agreement, which is part of a series of accords that the group is making with providers, turns AWS into its “preferred” cloud infrastructure services provider. AWS will execute the migration of […]

BBVA picks its 56 for innovation start-up contest

BBVA

BBVA has revealed the 56 finalists for the 8th edition of its Open Talent contest to compete in three separate finals in Mexico, London and New York in September. The start-ups come from 17 different countries, and BBVA says “one of the most noteworthy points” of its 8th edition is the “high number” of finalists […]

BBVA teams with Red Hat for digital banking drive

BBVA

BBVA is partnering with Red Hat to speed up innovation and digital banking growth. The agreement, which turns Red Hat into a “priority partner” for BBVA, is part of a series of alliances that BBVA is aiming to forge. Earlier this year, it signed an alliance with Cisco, also allowing it to become a “priority” […]

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