A variety of Spanish banking, energy and telecommunications companies have established Alastria, the “world’s first regulated national network based on blockchain”. The non-profit consortium will develop distributed ledger technology (DLT), which it believes is “set to become the new data exchange ecosystem”. As reported in May, the group created Red Lyra, the “first multisector technology […]
Openbank, a digital banking subsidiary of Santander, has made its new core banking system decision – the bank has opted for Temenos T24. Infosys with its Finacle offering lost out in the final.
Israeli equity crowdfunding platform OurCrowd has furthered its global expansion by opening an office in Spain, reports Julie Muhn at Finovate (Banking Technology’s sister company). The company’s founder and CEO Jon Medved has identified Spain and the Iberian region as one of OurCrowd’s “priority markets” since Madrid is in the heart of Europe and a gateway […]
Banco Santander, through Santander Universities and Fundación Universia, will work with internet of things (IoT) institute Mioti to provide training grants and courses in the growing IoT sector. Madrid-based Mioti, “the first 100% IoT institute in Spain”, is a place for companies, entrepreneurs and start-ups to develop their ideas. Banco Santander becomes one of four […]
Facebook has been slapped with a fine from the Spanish data protection watchdog for inappropriately collecting and using personal information on some of its Spanish users, reports Telecoms.com (Banking Technology’s sister publication). The fine, although a bit of a meagre one, is for violating Spain’s Organic Law on Data Protection (LOPD), with the Spanish data […]
EXCLUSIVE: Openbank, a digital bank in Spain (and part of Santander) is believed to be in the concluding stages of its core banking system selection.
BBVA reckons the fever for initial coin offerings (ICOs) in blockchain must be cooled as the industry is facing a “dangerous bubble” driven by speculation. ICOs are a common story in fintech at present and they allow small businesses to reach a large audience via blockchain and cryptocurrencies. (And BBVA has its own interest in […]
Mobile financial services company Vipera is acquiring SoftTelecom. The deal is expected to close for $1.5 million (€1.3 million).
BBVA has signed an agreement with Chinese tech giant Ant Financial to enable Chinese tourists to pay in Spanish stores using the Alipay mobile wallet. BBVA is the first Spanish financial institution to be working with Alipay.
Openbank, a subsidiary of Spain’s banking giant Santander, has undergone an enterprise-wide overhaul, from products and services, to technology, to corporate culture, to new branding.
Catch up on Banking Technology’s top five fintech stories of the week – all in one place!
A consortium of Spanish companies has created Red Lyra, the “first multisector technology platform in the world based on blockchain”. Lyra comprises fintech and non-fintech companies, professionals, and experts in blockchain. Its founding members include Banco Sabadell, Banco Santander, Bankia, BBVA, Bolsas y Mercados Españoles (BME) and consulting firm Grant Thornton. In fact, just last […]
Spanish wholesale bank Cecabank and consulting firm Grant Thornton have created the first blockchain consortium in Spain. Called Blockchain Banking Consortium, the project intends to progressively develop the potential of blockchain in the financial sector, and according to the pair it presently comprises 33% of the Spanish banking sector. Luis Pastor, Grant Thornton technology and […]
BBVA has announced the completion of “the first real-life implementation of an international money transfer using Ripple’s new distributed ledger technology (DLT)”. The transaction, which ran on BBVA infrastructures with real money, resulted in money moved between Spain and Mexio “in a matter of seconds”.
CaixaBank, Global Payments, Visa, Samsung and BNP Paribas’ subsidiary Arval have joined forces to set up Spain’s “first” payment innovation hub. The objective behind the hub is to “present society with the best possible user experiences in purchases and commerce, both online and offline”. The centre, which will be located in Barcelona, will specialise in […]
Risk management and regulatory reporting software vendor AxiomSL has been selected by Banco Sabadell.
Bankia Fintech by Innsomnia, the “first” incubator and accelerator in Spain, is calling for start-ups to submit applications. Spanish bank Bankia and Valencia-based fintech firm Innsomnia have teamed up, and are looking for five ideas, start-ups or spin-offs of consolidated companies to develop their activities in almost every area of the fintech industry. Jose Ignacio […]
ING is pulling a plug on its peer-to-peer (P2P) mobile payments app, Twyp, in the Netherlands due to the lack of customer uptake. However, the app will continue to function in Spain.
Banque de France and Banco de España are running late with their implementation of a new treasury and capital markets (TCM) system, Banking Technology understands. The two banks jointly opted for a new solution in 2013/14. It is understood that Calypso was chosen to replace a host of legacy technology, including Wallstreet Suite from Wall […]
CaixaBank is launching imaginBank, Spain’s first mobile-only bank providing banking services exclusively through mobile apps and social networks.
LCH. Clearnet is to begin offering clearing clearing services for Spanish securities executed on BATS Chi-X, Turquoise and Traiana from Monday 7 September 2015, subject to regulatory approval. The new service, which introduces interoperability for the market segment will operate under the existing Title V settlement framework until the revised dates have been published by Iberclear […]
A new global innovation centre in Madrid promises to illuminate the uses of Big Data for banks and financial institutions. Built by EY (formerly Ernst & Young), the centre is part of a $500 million investment in analytics by the company.
Spain’s BME is poised to open a new trading route from London to Madrid, which it says will increase the speed of access to the Spanish stock market for investors in London.
Dramatic reforms to the post-trade environment in Spain are poised to change the way trades are settled, as one of Europe’s top five markets prepares to open an equities CCP for the first time next year.
CaixaBank, one of Spain’s largest banks, has moved into the wearable payment technology space with the launch of an NFC-enabled wristband capable of making contactless payments. Security vendor Gemalto has supplied its Optelio Contactless MiniTag, which links the wristband to the user’s existing payment card.
Spanish start-up support organisation Finnovista is hosting a ‘hackathon’ in Barcelona next month which it says will bring together programmers, designers and business people to develop new software for retail banking, capital markets, payments and big data.
Spain’s CaixaBank is planning to target Brazil’s payments industry via a new joint venture with US transaction processing firm Global Payments that builds on the bank’s experience of digital channels its home market.
Spanish business to business payment platform Licuos has been named as the winner of Innotribe Startup Disrupt, a competition to find the most innovative financial services startups in the Spanish and Portuguese speaking world.
Spanish bank Sabadell has released a mobile app that lets consumers withdraw cash without a debit card.
Next Bank Madrid has chosen the finalists for a competition that seeks to find the best financial services startup companies from the Spanish and Portuguese speaking world.
A new joint project between Spanish financial services project Next Bank Madrid and Swift’s Innotribe innovation wing aims to unleash the potential of Spanish, Portuguese and Latin American start-up companies in financial services.
Spanish banks La Caixa and Santander have partnered with telecoms firm Telefónica to create a joint venture offering mobile payment services and a digital wallet designed to relegate conventional payment methods to the history books.
The world is embracing digital technology in every area of economic and social activity, including those that appeared impossible to convert to a digital format completely, such as payments.
