Iberpay and Spanish banks such as BBVA, Santander and CaixaBank have carried out the first test of this pioneering service in Europe in anticipation of the official entry into force, on November 28th, of the new One-Leg-Out Instant Credit Transfer (OCT Inst) scheme of the European Payment Council (EPC).
The objective is to improve these international payments, “in line with the guidelines of several global bodies such as the G7, G20, Financial Stability Board (FSB), Basel Bank for International Settlements (BIS), European Commission, World Bank and International Monetary Fund.”
During this pilot phase of the service, dozens of actual payments “originating from banks in other currency areas (National Australia Bank, Australia and New Zealand Banking Group, Itaú Unibanco in Brazil and Lloyds Banking Group in the UK) and sent through the Swift GPI Instant service have been processed, settled, and credited in a matter of seconds to the ultimate beneficiary customer’s account, thanks to the final delivery of the payment through Iberpay’s instant transfer service.”
This pilot initiative “included, as a world first, the integration of Iberpay’s instant transfer platform, which operates 24/7 in real time, with Swift’s GPI tracker, providing end-to-end visibility of payment status and greater transaction transparency.”
Some of the main advantages of this initiative “include the possibility of processing international payments 24/7 within seconds, end-to-end payment traceability.”
All of this allows us “to improve the customer’s user experience, offer new use cases and develop innovative services that compete with new players in this payment sector.”
As covered recently, BBVA is launching a new job portal “to attract people with technological backgrounds in the different countries where it has a presence.”
The Group expects to end 2023 “with over 2,600 new hires of this type of professionals, 1,000 of which will be in Spain.”
In recent years, technological talent (engineers, physicists, mathematicians and experts in artificial intelligence or data management) have “become one of the most sought after professionals in the labor market.”
In light of the challenge of recruiting and incorporating tech talent, BBVA (NYSE: BBVA) has created “a new job portal with the aim of not only being able to show available positions, but also to demonstrate to people with these technological backgrounds all the opportunities the bank offers STEM talent.”
BBVA has launched a new global software division “that brings together more than 16,000 developers across the Group.”
This new division “will speed up delivery of digital solutions and make them more easily scalable across the countries where the bank operates.”
Pedro J. Méndez, Global Head of Talent and Culture in the Engineering area at BBVA, said:
“We have segmented value propositions that are allowing us to provide our candidates what they expect to find in large companies like ours. We offer a long career path, with a flexible work model, a training program at the highest level and a strong commitment to diversity, inclusion, and the physical and mental well-being of our professionals. We also know that there are aspects that are important specifically for tech talent, such as participating in challenging projects or working with the latest technologies.” .