BBVA announced on Tuesday the first set of finalists in the eleventh edition of BBVA Open Talent, which BBVA claims is the world’s biggest fintech competition. According to the banking group, more than 800 start-ups from across the globe have entered this latest edition of BBVA Open Talent, with 90 countries represented. From that list 56 have now been provisionally shortlisted as finalists, all of which come from BBVA’s core operating countries.
“Entries also came in for innovative solutions like P2P hiring for cars and motorbikes, KYC (know your customer) cloud-based solutions for smaller businesses to minimise fraud, and an app that monitors how sustainably someone lives their life and rewards them financially for taking positive action. There were also business focussed entries, like a digital intermediary for B2B mortgage brokerage, crowd-sourcing investments into products and a virtual prepaid loyalty scheme for dedicated vegan businesses.”
BBVA noted that as well as prize money of up to €100,000, the winners and runners up in BBVA Open Talent 2019 can join the bank’s accelerator program, as well as apply for a spot on BBVA’s Proof of Concept program.
“A second shortlist of entries at a global level is now being produced, and will be announced in the next few weeks. The first set of finalists will now be invited to a pitching session in front of BBVA decision-makers in their home countries. The winners of these pitching battles will subsequently be flown to BBVA’s global headquarters in Madrid, Spain, for the final showdown at the BBVA Open Summit against up to a dozen other promising startups.”