Last trends in the Fintech sector by Bankia

Bankia, partner of the INFINITECH Project, carries out since 2016 Bankia Fintech by Innsomnia, the largest open innovation program in Spain in the financial sector and the 1st Fintech Accelerator at national level.

Since its creation, the Bankia Fintech Program has attracted more than 400 startups and entrepreneurs from more than 20 international ecosystems, of which 47 have been accelerated and have developed a Proof of Concept (PoC) and Minimum Viable Product (MVP) for the bank. The Bankia Fintech Program has become a reference both for its innovative methodology and for the success rates recorded up to date.

Under the 5th Bankia Fintech call launched in 2019, 174 applications (38% more than previous call) have been received at national and international levels, out of which 18 have been selected to develop and scale up innovative projects in different areas.

As a result of the international scouting performed by Bankia to attract the best fintech talent worldwide, the following list includes a selection of the 18 best-ranked startup projects in the financial sector aligned with the challenges of the bank. Many of them have as a common feature: the search of sustainability.

6 projects on Artificial Intelligence:
  • Fintep: Platform for proper certification and document management in a decentralized and reliable manner and with traceability of all processes.
  • Metis Solu: Hubtype is a conversational platform focused on the user experience that combines automation and human agents through different messaging applications.
  • Tickendy: First platform that allows establishments to digitize the purchase ticket and host it in the user’s mobile app using NFC technology.
  • Zárate Mateo - Quantitative systems: Tool aimed at improving investment processes through Artificial Intelligence.
  • Multiverse computing: Solution based on quantum computing, AI and ML that provides answers to the problems of fraud and late payment, with savings for financial entities.
  • Strong Algorithmics-SALGO: Comprehensive solution for advanced fraud detection, early warning of defaults and operational risks through information synchronization, data storage and advanced analytics.
3 projects on User Experience:
  • Tadoo: Mobile messaging service that offers transparency and absolute security allowing the interactive relationship between the financial institution and the client.
  • UCapture: Green-tech platform that fights climate change by allowing users to reduce their carbon footprint for free for each purchase made.
  • Virtual Experience Bankiavr: 360º solution that allows to visualize, train and learn the best commercial guidelines in the most efficient way, using virtual reality technology.
2 projects on Cybersecurity:
  • Signicat: Solution that allows to verify the identity of the client, collect KYC data, perform due diligence and obtain a legally binding electronic signature.
  • RedTeaming: ODIR (Offensive & Defensive Intelligence Reconnaissance): service for the detection, monitoring and review of assets, to identify and respond attacks.
2 projects on Blockchain:
  • Donext Digital Solutions: Tool that applies gamification for the development of products and services that stimulate customer acquisition and loyalty through AR.
  • DainWare: State-of-the-art AI platform, a decentralized and geo-dispersed public computer network, through which the blockchain solves a wide variety of problems.
2 projects on Alternative Credit Scoring:
  • TheLogicValue: Analysis tool that controls and monitors companies’ carbon footprint capable of quantifying the risk of investments in monetary and percentage terms.
  • October: Leading loan platform in Continental Europe that digitizes bank risk analysis and automates much of the sales, credit and document processing process.
1 project on Regtech:
  • WeWorkData: Real-time and secure anonymization solution that guarantees compliance with the GDPR for financial institutions.
1 project on Solutions for SMEs:
  • GouBlue: Seeks to reduce the environmental impact by offering through its platform shared trips in urban areas among the workers of the same company.
1 project on Disruptive Payment Methods:
  • Subscription Apps: Collaborative economy tool that consolidates all charges to be made for shared services in a single application.

More than 20% of the selected projects come from international companies from the United States (1), France (1), Norway (1) and Ireland (1). The rest of the selected ones are national projects from Madrid (7), Valencia (2), Barcelona (1), Castellón (1), San Sebastián (1), Valladolid (1) and Vitoria (1).

Bankia is a Spanish financial entity with headquarters in Madrid and Valencia and branch offices all over the national territory. Born in 2010, Bankia is listed on the Madrid Stock Exchange, is a constituent of the IBEX 35 and is a selected member of the Euro Banking Association; s considered the 4th largest Bank in Spain according to the EU wide transparency exercise in 2018 by the European Bank Authority.

As a result of the commitment of Bankia to support startups, in 2019 it has created Bankia Fintech Venture, an investment fund provided with 20 million euro to invest in Fintech projects developed by startups for a period of five years. This tool aims at meeting the financing needs of startups helping them to further develop services related to innovation and technology complementary to Bankia's core activities.

Source: Bankia Communication
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logo europe This project has received funding from the European Union’s Horizon 2020 research and innovation programme under grant agreement No 856632.
The content reflects only the authors’ views, and the European Commission is not responsible for any use that may be made of the information it contains.