NFTs are unique and verifiable representations of digital assets, such as works of art, music, videos, virtual collectibles and other types of digital content, based on blockchain technology to guarantee their authenticity and ownership. Over 64 percent of those who purchase NFTs do so for profitability, while 12 percent are simply collectors.
Innovation
Innovation
BBVA has incorporated a new form of connection to its treasury solutions via API, reducing companies’ integration times for BBVA Pivot Connect by 80 percent. The first three APIs, available on BBVA Pivot, make it possible for companies to manage and trace payments to suppliers, track international payments, and check balances and transactions in accounts in any country.
BBVA Spark is the financial ally of high-impact companies and the partner of reference for the entire ecosystem of entrepreneurs. This unit, already present in Mexico, Spain and Colombia, will expand to the rest of the South American countries.
Google Cloud, Amazon Web Services, Red Hat, Cisco, IBM, Genesys, Salesforce and Telefónica all form part of BBVA's strategy of technological alliances. Thanks to these partnerships, BBVA has built up ways of working together, set up expert teams and developed cutting-edge tailor-made solutions with the most innovative tech companies, which are key to its growth and digitalization plans.
The main mission of BBVA's Security Operations team is to adopt all the necessary security measures in the face of an increasingly diverse cybercriminal reality. To this end, it has highly specialized teams in charge of assessing the security measures and processes implemented in the Group, as well as monitoring, detecting, and responding to any security risk or threat. Hundreds of hackers make up this team worldwide, organized into offensive, defensive, and transversal teams.
BBVA has become the first bank in Spain to make registration and login available to its customers at online retailers and service providers through a new Bizum service. This new way of operating online allows customers to streamline the processes related to registration and access to their personal accounts in companies, businesses, or digital providers. Consequently, it eliminates the need to enter data -such as email or passwords- and allows the entire process to be carried out by simply providing the telephone number associated with Bizum. Since BBVA integrated the Bizum service in 2016, more than four million of its customers use this solution daily to pay.
BBVA has relied on behavioral economics techniques to encourage employee participation in cybercrime training. The messages conveyed through the use of these techniques have effectively doubled interest in the course and, in some cases, increased course attendance by up to 70%. The initiative, which has been recognized by the Global Association of Applied Behavioural Scientists, will succeed in making the bank’s regular cybersecurity messages to its customers more effective.
BBVA has implemented a business banking service model that speeds up the response to the financial needs of multinationals when they expand into new markets. Employing more than 2,500 specialized managers, the new "Cross-Border" model cuts the requirements for opening non-resident accounts by up to 70 percent, thus drastically shortening the time required to set up new subsidiaries. BBVA Business Banking already works with more than 120,000 subsidiaries of business groups in 14 countries.
Garanti BBVA, a leading force in digitization in the Turkish banking industry, has announced the launching of Garanti BBVA Digital Assets, the first venture of its subsidiary Garanti BBVA Financial Technologies. With a pilot already in progress, the company will initially provide services for transfer and custody of bitcoin and ether in the cryptoassets market.
The U.S., China and Europe are leading the development of this technology, which uses principles of quantum physics to perform calculations and information processing and has the potential to solve complex problems.