“We have to be as efficient as the newcomers,” BBVA Executive Chairman Francisco González said at an event organized by MIT Technology Review and BBVA in San Francisco, when describing the transformation process underway at BBVA to turn a conventional bank into a digital house. The process will allow BBVA to be part of the future competitive landscape in financial services, that will be formed by “some banks including BBVA, probably some startups and definitely some big digital players,” Francisco González said.
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BBVA Compass put its effort to bring more women into leadership positions on a visible perch by sponsoring last week’s International Women's Forum in Houston, where women leaders from more than 30 countries came together over two days to dig into issues and explore solutions. The bank capped its involvement in the event by inviting several of its female employees to the induction of Hillary Clinton into the IWF and Leadership Foundation Hall of Fame.
Corporate cybersecurity systems are increasingly important to protect the data companies store online – both their data and their customers’. However, according to a Fortinet survey covered by Europa Press, 49% of those in charge of technology in Spanish companies feel that it is not a priority for the senior management.
Artificial intelligence (AI) remains a challenge for companies around the world. According to SAS data covered by Europa Press, just 20% of European companies are prepared to face the challenge of implementing this technology.
Some 22% of companies that were founded in Spain 25 years ago remain active, according to a study published by Informa D&B and covered by EFE. Of the 76,844 companies that were created in 1992, 16,589 remain in operation.
Every quarter, BBVA rolls out new products and functionalities, delivering new amazing experiences for its mobile and online customers to enjoy. By year end, the bank expects that about 92% of its current product portfolio will be available on its digital channels in Spain, as well as to be able to continue making progress in its other franchises. BBVA CEO Carlos Torres Vila explained how this effort is having an “impressive impact”, as evidenced by the exponential rate at which digital sales are growing. Digital sales account for about one fourth of the bank’s total, with more than 3.5 million units sold between July and September.
From January to September 2017, BBVA obtained a net attributable profit of €3.45 billion – practically the same amount earned in all of 2016 and 23.3% more than earnings from the same period last year. Recurring income, cost containment and a decline in impairment losses on financial assets were the main factors driving this growth.
Legal services firms are now exploring the potential of new technologies in order to apply them to their everyday work. According to a study by the consulting firm McKinsey & Company, published in Expansión, 23% of the tasks carried out in this field are automated, therefore making it a budding market for so-called “legaltech”.
This coming Sunday, October 29th, at 3:00 a.m., Spain’s time will change for the second time in 2017. Clocks will be set back an hour to 2:00 a.m., so we’ll get to sleep an extra hour. This will mark the end of Daylight Savings Time, which began on March 31st.