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Fintech

Fintech

For months now, 'blockchain' has been a core topic of interest for online media outlets and social networks, sparking endless debates. This list of eleven Twitter accounts offering high-quality blockchain-related content will help you wade through the clutter.

BBVA’s ‘BBVA Bconomy’ is a new function included in the BBVA app and website that allows customers to know the state of their financial health and provides made-to-measure plans to improve it. The tool measures the evolution of income and expenses, the level of savings and spending on housing and debt levels to arrive at an average rating of the customer’s financial health. A reading of over 50% indicates an acceptable level of financial health, although measures on the savings front might be required to improve it. Besides diagnosing the state of their financial health, ‘BBVA Bconomy’ also assists customers with personalized recommendations and tools according to their situation. BBVA is the first bank in Spain to offer such financial analysis to its customers.

Mobile banking has come a long way since Hurricane Katrina in 2005, and in the aftermath of Hurricanes Harvey and Irma, its utility in crisis situations has undoubtedly been proven.

At BBVA Compass, the bank’s award winning mobile app was initially used during Hurricane Harvey as one of the channels providing customers with branch availability information. But, with roads flooded, and ability to access branches limited, customers turned to the app to make transactions, like mobile deposits. Some even began running up against their mobile deposit limits.

The telecommunications sector is also exploring ways of creating new services and improving its processes by using blockchain. Among its many applications for telecos, in this issue of #RevoluciónBlockchain, Eusebio Felguera and Christophe Steck highlight its use to integrate third party services, manage intellectual property rights or as a system for improving corporate audits.

UK Challenger bank Atom is making its first move overseas by beginning to offer savers in Germany access to its products.

The app-based bank, which is part owned by BBVA, has partnered with Deposit Solutions in order to launch fixed-rate products to customers in the country.

One of the topics of debate in the European Union’s Payment Services Directive 2, better known as PSD2, is how to articulate the access to customer data by third parties. The European Banking Authority (EBA) has said it is in favor of access through Application Program Interfaces (APIs), which it regards as being more secure in protecting customer data. That position differs from the one taken to date by the European Commission.