BBVA announced earlier this week new categories for its upcoming BBVA Open Talent fintech competition. The company reports that this year’s competition is looking for “the best and brightest” ideas that will shape the future of financial services, with three prizes available. BBVA then revealed a total of €150,000 will be awarded for the three winners of the following prizes:
- Fintech for Future: €50,000 for the startup with the greatest potential to transform the financial sector in the next 10 years.
- Fintech for Business: €50,000 for the startup with the best solution to transform the way in which companies manage their finances and data in their operations.
- Fintech for People: €50,000 for the startup with the best solution to improve the experience of the customer in banking and the way in which people manage their money and their data.
The categories selected for the BBVA Fintech Business Awards, are:
- New Payments
- Fintech for Companies
- Financial Inclusion
- Fintech for Sustainable Finance
- Automated Advisory and Financial Health
- Automation of Internal Processes
- Assets Management and Wealth
- Lending in the Open Market
- Digital Marketing and Sales
- Consumer Finance
Out of the 12 categories, BBVA will be selecting the best entry it sees in each, to bring along to a dedicated immersion week at the bank, which takes place during BBVA’s Global Annual Summit in Madrid. Ainhoa Campo, Head of BBVA´s Open Innovation Connection unit, added:
“For BBVA, the chance to work with those at the forefront of building the future of banking services is a great privilege. But we also know that we have a chance to not only support the growth of our business, but to support the growth of dozens of fintech firms too. It’s something we have a strong track record in achieving, and so we are delighted to announce these additional categories for what is the world´s biggest dedicated fintech competition.”