Bankia launches Spain’s first fintech incubator and accelerator at Fujitsu Forum in Munich

Ignacio Cea, Corporate Director of Technology Innovation and Strategy at Bankia, during the presentation of Bankia Fintech by Innsomnia in Munich

• Corporate Director of Technology Innovation and Strategy at Bankia, Ignacio Cea, at an event in Munich, presented Spain’s first fintech incubator and accelerator that Bankia has launched in Valencia
• Speaking at the Fujitsu Forum, Cea said that “working closely with fintechs is a decisive part of the digitalization process”

MUNICH, 22-Nov-2016 — /EuropaWire/ — Bankia Fintech by Innsomnia was officially unveiled this week in Europe at the Fujitsu Forum in the German city of Munich, in front of 1,500 specialists from the sector from 80 countries.

The international introduction of Bankia Fintech by Innsomnia, the first Spanish fintech incubator and accelerator, was made in Munich by the Corporate Director of Technology Innovation and Strategy of Bankia, Ignacio Cea, who said “working closely with fintechs and the major technology companies is a decisive part of the digitalisation process”.

During his speech at the opening conference of the Fujitsu Forum attended by the head of Fujitsu for Spain and Latin America, Ángeles Delgado, Bankia’s manager outlined the roadmap for the bank’s digital transformation process and explained that “digitalisation is the catalyst in Bankia’s plan based on closeness, simplicity and transparency”.

“We are exploring new technologies that will enable us to improve our service or efficiency and we are open to new products or services that can potentially be added to our current range. We are looking at the world, experimenting”, he said.

Cea confirmed that for Bankia this experimentation means “working closely with fintechs” and he took the opportunity to invite “all international fintechs” to join Bankia Fintech by Innsomnia.

Bankia inaugurated Bankia Fintech by Innsomnia in early November. It is located in Base 2 of the Valencia Marina (formerly the headquarters of Team Germany in the America’s Cup) and has 14 start-ups participating in its first round.

The selected companies are hoping to provide solutions across an extremely wide range of financial areas, including risk, self-employed people, exporting, financial security, cryptocurrencies, mobile payments, asset management, stock markets, immigrants, geolocation of businesses and real estate loans. The companies come from Madrid, Asturias, Castellón, Alicante, Valencia and Barcelona.

‘Connect with your expert’

The Corporate Director of Technology Innovation and Strategy at Bankia emphasised that the bank’s objective is to grow steadily and profitably, better serving its customers. “This is what really drives us and these are the only factors that justify our work”, he said.

Personal service, active listening, the use of simple language and cutting the amount of red tape are some of the ways of winning consumer trust. One example is Bankia’s new remote service called “Connect with your expert”, which is intended for customers that prefer to receive a personal service via non-branch channels.

All of this, explained Cea, will be achieved thanks to the digitalisation of the bank. The process is based on three factors – redesigning internal processes to simplify and clarify them; an “omni-channel” experience for the customer; and technological collaboration. “The innovation is about collaboration”, he said. In addition to working alongside the fintechs, the bank will also collaborate with large companies such as Fujitsu to jointly create new solutions.

For example, Bankia’s first “bot” (virtual assistant) has been designed with the Japanese multinational. This is a new concept intended to improve customer service and is capable of identifying the customer’s voice and requirements as well as offering solutions to problems and questions. “We are starting to carry out tests now and creating very basic uses”, said Cea, who announced that the “bot” will eventually be launched in the market.

SOURCE:  Bankia S.A.

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