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We're proud to be a not-for-profit credit union supporting all branches of the military,…. Advertise with Us. PS This is a great branch. Website Services. Press Enter. The scale of the conference is huge - more than 11, delegates, including 1, CEOs and Presidents, from 4, companies and more than 85 countries around the world. You have to move quickly to bring the future within reach. They discover and understand what needs to change in the world of financial services and use technology to innovate.
This is where what will be the next big thing in banking is being discussed. For the bank, the purpose of these trips is multiple. In the case of BBVA's CEO, it was a chance to meet with a number of startups that are bringing new solutions to the industry and who are hoping to change the way customers and clients bank in the future. The eight or so startups he met in Las Vegas are all aiming to do this, through a variety of technologies. Undoubtedly Artificial Intelligence was a core focus.
This year the same event attracted several thousand, to the point where there were queues to get in, such is the attraction of machine learning. That aside, the next big focus was on security and fraud prevention , and how technologies like biometrics can find solutions to this issue. Both Carlos Torres Vila and Derek White spent time with startups looking at ways to make passwords a thing of the past and other businesses seeking stronger ways to protect customers and their data.
But when we look at the future, it's clear that voice activated banking is going to play an increasing part. Customers value the ability to have conversations with their bank, to ask questions in real life language and get answers and actions that best suit them.
He took part in a panel session called Banking as a Service, aimed at discussing how open banking will develop over the coming years. Paavola outlined how the advent of open API banking , as BBVA has already done , would lead to greater choice for consumers as third parties were able to plug into their data - with their consent - and offer different products and services.
Financial regulations. The GDPR establishes a series of new requirements, including the mandatory designation of a Data Protection delegate within institutions and companies handling sensitive data.
The delegate will be responsible for ensuring that the personal information handled by these organizations is adequately protected. Regulation, as BBVA has said on numerous occasions, is a critical element to banking services - protecting consumers, maintaining the integrity of the sector and of course helping foster new businesses.
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