BBVA and financial services provider Anthemis have partnered to strengthen BBVA’s goal to be involved in the fintech ecosystem and develop products and services targeting the new era of digital banking.
Parties have agreed regarding the construction of a start-up studio in London. The goal of the studio is to produce value by deploying capital and resources to building businesses that address discovering new user needs and draw top fintech entrepreneurs. The parties plan to help start-up founders find the right fintech business opportunities and initiate new projects. The parties also expect to complement the current start-up activity of BBVA, in which the bank produces, invests in, and collaborates with companies in the fintech ecosystem via its venture capital fund Propel and its New Digital Business unit.
Ian Ormerod, BBVA’s Head of New Digital Businesses, explains that the agreement will help them realise expansion in their capacity to promote, create and advance UK and international fintech projects outside of their core markets. “The aim is simple, find the very best fintech ideas – the ones that are real game-changers and that will improve people’s lives and the way businesses operate, and then support their growth. Anthemis’ experience both in the U.K., Europe and increasingly across the U.S. makes them the best possible partner for this project.” he adds.
Amy Nauiokas, Anthemis Founder and President, notes that, “BBVA shares our passion for transforming financial services for the Information Age. The company has played a tremendous role supporting innovation in the fintech ecosystem globally for many years. To that end, BBVA is a perfect partner for Anthemis to align with as we seek to find the next opportunity spaces for early stage entrepreneurs inside an industry still so ripe for change.”
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