Spain’s first fully digital bank Openbank in major transformation
Openbank, a subsidiary of Spain’s banking giant Santander, has undergone an enterprise-wide overhaul, from products and services, to technology, to corporate culture, to new branding.
Spain
Top fintech stories this week – 2 June 2017
Catch up on Banking Technology’s top five fintech stories of the week – all in one place!
Spain seeks fintech stardom with Red Lyra blockchain network
A consortium of Spanish companies has created Red Lyra, the “first multisector technology platform in the world based on blockchain”. Lyra comprises fintech and non-fintech companies, professionals, and experts in blockchain. Its founding members include Banco Sabadell, Banco Santander, Bankia, BBVA, Bolsas y Mercados Españoles (BME) and consulting firm Grant Thornton. In fact, just last […]
Cecabank and Grant Thornton create Spain’s first blockchain banking consortium
Spanish wholesale bank Cecabank and consulting firm Grant Thornton have created the first blockchain consortium in Spain. Called Blockchain Banking Consortium, the project intends to progressively develop the potential of blockchain in the financial sector, and according to the pair it presently comprises 33% of the Spanish banking sector. Luis Pastor, Grant Thornton technology and […]
BBVA and Ripple complete blockchain cross-border money transfer pilot
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”.
Payments innovation reigns in Spain with CaixaBank hub
CaixaBank, Global Payments, Visa, Samsung and BNP Paribas’ subsidiary Arval have joined forces to set up Spain’s “first” payment innovation hub. The objective behind the hub is to “present society with the best possible user experiences in purchases and commerce, both online and offline”. The centre, which will be located in Barcelona, will specialise in […]
Banco Sabadell in regtech project with AxiomSL
Risk management and regulatory reporting software vendor AxiomSL has been selected by Banco Sabadell.
Bankia Fintech accelerator opens up for fintech start-ups
Bankia Fintech by Innsomnia, the “first” incubator and accelerator in Spain, is calling for start-ups to submit applications. Spanish bank Bankia and Valencia-based fintech firm Innsomnia have teamed up, and are looking for five ideas, start-ups or spin-offs of consolidated companies to develop their activities in almost every area of the fintech industry. Jose Ignacio […]
ING cans Twyp mobile payments app in the Netherlands, but keeps it going in Spain
ING is pulling a plug on its peer-to-peer (P2P) mobile payments app, Twyp, in the Netherlands due to the lack of customer uptake. However, the app will continue to function in Spain.
Central banks of Spain and France late with Calypso tech project
Banque de France and Banco de España are running late with their implementation of a new treasury and capital markets (TCM) system, Banking Technology understands. The two banks jointly opted for a new solution in 2013/14. It is understood that Calypso was chosen to replace a host of legacy technology, including Wallstreet Suite from Wall […]
Spain’s Caixa Bank launches mobile-only bank aimed at Millennials
CaixaBank is launching imaginBank, Spain’s first mobile-only bank providing banking services exclusively through mobile apps and social networks.
LCH. Clearnet expands to Spanish Equities on BATS Chi-X, Turquoise & Traiana
LCH. Clearnet is to begin offering clearing clearing services for Spanish securities executed on BATS Chi-X, Turquoise and Traiana from Monday 7 September 2015, subject to regulatory approval. The new service, which introduces interoperability for the market segment will operate under the existing Title V settlement framework until the revised dates have been published by Iberclear […]
EY focuses on Big Data in finance at Madrid innovation centre
A new global innovation centre in Madrid promises to illuminate the uses of Big Data for banks and financial institutions. Built by EY (formerly Ernst & Young), the centre is part of a $500 million investment in analytics by the company.
Spain’s BME opens high-speed London trading link
Spain’s BME is poised to open a new trading route from London to Madrid, which it says will increase the speed of access to the Spanish stock market for investors in London.
Spain braces for major post-trade overhaul
Dramatic reforms to the post-trade environment in Spain are poised to change the way trades are settled, as one of Europe’s top five markets prepares to open an equities CCP for the first time next year.
CaixaBank launches Gemalto-powered NFC mobile payment wristband
CaixaBank, one of Spain’s largest banks, has moved into the wearable payment technology space with the launch of an NFC-enabled wristband capable of making contactless payments. Security vendor Gemalto has supplied its Optelio Contactless MiniTag, which links the wristband to the user’s existing payment card.
Next Bank Europe plots disruptive ‘hackathon’ in Barcelona
Spanish start-up support organisation Finnovista is hosting a ‘hackathon’ in Barcelona next month which it says will bring together programmers, designers and business people to develop new software for retail banking, capital markets, payments and big data.
CaixaBank targets Brazilian payments market
Spain’s CaixaBank is planning to target Brazil’s payments industry via a new joint venture with US transaction processing firm Global Payments that builds on the bank’s experience of digital channels its home market.
Licuos named Spain’s best startup at Next Bank Madrid
Spanish business to business payment platform Licuos has been named as the winner of Innotribe Startup Disrupt, a competition to find the most innovative financial services startups in the Spanish and Portuguese speaking world.
Spain’s Banco Sabadell offers mobile cash withdrawal
Spanish bank Sabadell has released a mobile app that lets consumers withdraw cash without a debit card.
Next Bank Madrid reveals Spain’s strongest startups
Next Bank Madrid has chosen the finalists for a competition that seeks to find the best financial services startup companies from the Spanish and Portuguese speaking world.
“Disruptive” Spanish and Portuguese start-ups to showcase talent in Madrid
A new joint project between Spanish financial services project Next Bank Madrid and Swift’s Innotribe innovation wing aims to unleash the potential of Spanish, Portuguese and Latin American start-up companies in financial services.
Taking the pain out of paying in Spain
Spanish banks La Caixa and Santander have partnered with telecoms firm Telefónica to create a joint venture offering mobile payment services and a digital wallet designed to relegate conventional payment methods to the history books.
Spain: the next generation of payment technology?
The world is embracing digital technology in every area of economic and social activity, including those that appeared impossible to convert to a digital format completely, such as payments.
