Financial services firm BBVA will initiate the 10th edition of its Open Talent startup competition later this year to uncover fintech ideas that could change how consumers and organisations manage finance.
The program will award prizes of €50,000 ($62,000) in three categories, covering the participating startups most likely to:
- Reshape banking over the next decade;
- Improve customer banking experiences and how people manage their money and data; and
- Alter how companies handle their financial and data operations.
The competition is open to startups worldwide. The best participant from each of the 11 countries in which BBVA is present will be invited with the three prize winners to take part in an “immersion week” at its Spanish headquarters.
The prize winners, along with some of the best runners-up, will also have their business models pushed through the BBVA proof-of-concept development pipeline.
In addition to running the contest, BBVA will partner businesses throughout 2018 to tackle fintech priorities across segments including artificial intelligence, distributed ledger technology, insurance tech, consumer finance and asset management.