Announcing the Results of BBVA Open Talent 2016: Winners Defining the Future of FinTech Around the World

By LTP

The internationally recognized BBVA Open Talent 2016 is an example of what a truly innovative financial institution is capable of and how collaboration and recognition of mutual strengths in the financial services industry can make a real change and bring the best out of each world.

For more than eight years now – through Open Talent competition – BBVA has proactively supported some of the most innovative and promising ventures and individuals that can make a change in the financial services industry. Success stories from the Open Talent competitions of previous years speak to the scale of possibilities and success opportunities that startups are presented by entering and participating in the contest.

Last month, we analyzed the hallmarks of the latest chapter and revealed the finalists of Open Talent 2016 from LATAM, Europe and USA & ROW – innovators that constitute the next generation of FinTech companies. A number of finalists from each region have been selected after a rigorous screening and evaluation to compete for €30,000 + immersion and interaction program with BBVA experts and executives in Madrid and Mexico City, which only two teams from each region will be granted. The winners will be able to enjoy a non-consecutive, two-week program in the mentioned cities to engage intensively with an entrepreneurial ecosystem and BBVA executives.

The winners of BBVA Open Talent 2016 competition

Winners from USA & ROW

Precognitive and Cambridge Blockchain have been chosen by the jury of the BBVA Open Talent 2016 edition, among the 20 finalists who have competed in the final of USA and rest of the world edition.

Precognitive is fraud-prevention technology for electronic devices that combines artificial intelligence and behavioral analytics to detect and prevent fraud in real time. It was founded by Sam Bouso in Chicago in January 2016.

Cambridge Blockchain, founded by Matthew Commons in Boston (USA) in April 2015, is an identity management platform for financial institutions that eliminates redundant compliance steps while improving the customer experience.

Winners from LATAM

Alegra (Colombia), a cloud application to manage small businesses, and Kobra, a free cashing and fair network, have been chosen by the jury of the BBVA Open Talent 2016 edition, among the 17 finalists who have competed in the final of the Latin America edition.

Kobra is a free cashing and fair network. Through mobile technologies and a marketplace of non-paid accounts, Kobra provides efficiency and transparency to the payment process.

Alegra is a cloud application for managing small businesses. The application allows to invoice, manage expenses, banks and reports.

Winners from Europe

PayKey and Musoni have been chosen by the jury of the BBVA Open Talent 2016 edition among the 20 finalists who have competed in the final of Europe edition.

PayKey offers the simplest, fastest, platform agnostic and mobile-centric way of making personal and commercial payments. PayKey’s first-of-its-kind secured payment keyboard makes everyday banking easier and more efficient than ever before. PayKey’s technology puts banks where their customers are – on social networks (Facebook Messenger, WhatsApp, WeChat, Twitter, etc.).

Musoni is a microfinance software company that supports financial organizations with its innovative microfinance platform, the Musoni System. The system enables MFIs to easily manage their clients, loans and savings. It offers a comprehensive range of portfolio and financial reports, includes its own accounting module, its own SMS module, and integrates with multiple mobile money services and its own tablet app.

The winners of Special Awards at BBVA Open Talent 2016

Aside from the winners’ award, BBVA has recognized two companies in special categories:

Israel’s PayKey was awarded a Wired Money special award and Musoni’s team from Amsterdam won the Financial Inclusion Special Award.

Musoni was chosen as the best startup that provides digital financial solutions for small businesses or end-customers with low incomes. The company’s team will travel with the BBVA Financial Inclusion team to meet partners specifically associated with this sector.

PayKey was rewarded as an early-bird project that entered the competition before May 2, with a very special prize: the potential opportunity to participate and present its project at a landmark event in the financial world: WIRED Money.

The prize for BBVA Open Talent 2016 winners

As mentioned previously, each winner will be granted €30,000 + immersion and interaction program with BBVA experts and executives in Madrid and Mexico City.

First appeared at LTP