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Ignacio Cea, Bankia's corporate director of Innovation and Cybersecurity.

Innovation

XXVI Meeting of the Financial Industry

Bankia is committed to Artificial Intelligence to offer products and services tailored to customer needs

The corporate director of Innovation and Cybersecurity of Bankia, Ignacio Cea, said that the technology is a strategic element for the entity, which has Bankia Fintech by Innsomnia, to pass directly on customers.

Communication Bankia

By  Communication Bankia

Publish on 
09 May 2019 - 15:15

  • Ignacio Cea, Corporate Director of Innovation and Cybersecurity of Bankia, has participated in the XXVI Meeting of the Financial Industry
  • The entity has Bankia Fintech by Innsomnia, the largest startup accelerator in Spain, whose participating starups "help the bank's digital transformation".

Bankia's corporate director of Innovation and Cybersecurity, Ignacio Cea, said that the bank is making a firm commitment to Artificial Intelligence in its processes as an instrument to offer its customers the products and services that best meet their needs.

This is what Cea said during its participation in a round table on new business models and new technologies within the framework of the XXVI Meeting of the Financial Industry, organized by Deloitte and ABC.

"In banking, we do not have technological differences with any other industry, we are up-to-date in technology solutions, but it is true that we carry a legacy that, at times, makes our responses go somewhat slower than we would like", he underlined.

In this regard, Cea explained that artificial intelligence is the technology "that is really changing the rules of the game and, at Bankia, we are betting on this with the aim of improving our service for customers".

Artificial intelligence, according to the Corporate Director of Innovation and Cybersecurity, relies on cloud computing and big data. Cloud computing facilitates cost escalation and reduces costs for entities by not having to integrate all the information in their data centres. And big data means making the most of the data in order to be able to provide customers with products and services tailored to their needs.

"Technology is a very important piece and it should help us gauge our capacity to respond to our customers and use this data to create products and services and bring them to customers as needed", he said.

Regarding fintech, Cea pointed out that Bankia has a great interest in these companies "because they are fresh and agile and can improve our services because they complement us". However, "banks have something that fintech does not: massive scale and a large number of customers".

Cea pointed out that the bank has Bankia Fintech by Innsomnia, the largest startup accelerator in Spain, with so fintech can "help us accelerate our digital transformation". "Our strategy is to collaborate with these companies but not enter their capital", he added.

Finally, Cea stated that "banks must focus on what we know how to do correctly, which is to manage risk, lend money, offer financing and, in parallel, innovate and generate new calculation models to reach our customers and offer them what they need when they need it".

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