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Innovation

Main accelerator specialised in Fintech in Spain

Bankia Fintech begins its fourth edition with 18 startups that will be supervised by the bank's senior executives

This fourth edition of the Bankia Fintech by Innsomnia program is the consolidation of a project that seeks to build the banking of the future, giving impetus to the projects of companies that combine finance and technology.

Communication Bankia

By  Communication Bankia

Publish on 
23 November 2018 - 11:45

  • Startups from Spain, Israel, the United Kingdom and Luxembourg have been selected from the 126 candidates
  • The main technological sectors in which they will develop their projects are Blockchain, Machine Learning, Solutions for SMEs, regulatory technology and heritage management
  • They will receive training in complex sales, business plans and headhunting given by teachers of Unikemia business schools and Geekhubs technical training schools.
  • The startups will work with several business areas of the bank and each one will be supervised by a senior executive of the bank who will help them throughout the process

The fourth edition of Bankia Fintech by Innsomnia has started with the presentation of 18 of the 126 startups. Recruitment of foreign talent has been conducted through the international network of accelerators The Talent Route, present in 15 countries in Europe and Latin America, and driven by Innsomnia with support from Icex.

The goal of the project, as in previous editions, is to work on open innovation processes with different areas of the bank, to develop products for the entity and its customers through joint work between the technology companies and the bank.

In this edition, four Blockchain projects have been selected, which will be developed by the Nodalblock, Blockchain Customs Technology, Finweg and Coinigence startups. Four projects regarding artificial intelligence and machine learning by FinTech companies Newralers, Serimag, Pangea and Facetrom.

Two solutions for SMEs presented by Flipsimply and Afterbanks have also been chosen; two for regulatory technology (regtech) by Snapswap and Scanovate; and two for wealth management, known in Fintech slang as wealthtech, by startups Inbest and Feelcapital.

In addition, there are also four other projects: one involved in banking technology proposed by Coinscrap, one for customer relationships by Opseeker, one specialised in legaltech by Fintech My Digital Legacy and one for proptech (real estate management) by Clicpiso. Of the selected startups, fourteen come from Spain, two from Israel, one from the United Kingdom and one from Luxembourg.

Of the selected startups, fourteen come from Spain, two from Israel, one from the United Kingdom and one from Luxembourg. Regarding the Spanish companies, the projects come from Madrid (7), Valencia (2), Galicia (2), Alicante (1), Málaga (1) and Barcelona (1).

Design of banking business plans

One of the novelties of this fourth program of Bankia Fintech is that it focuses on more mature companies and covers a greater number of sectors. In addition, a training program will be provided for startups, mainly based on the design of banking business plans, complex sales and headhunting.

The training will be provided by Innsomnia in collaboration with Unikemia, a digital platform sponsored by an international group of business school teachers. This year, a technical profile training program will also be launched in collaboration with Geekhubs, which has created the first course in Spain for programmer training at Blockchain.

The fourth edition of the Bankia Fintech by Innsomnia program (spanish version) is the consolidation of the project started two years ago, the main FinTech accelerator in Spain, which unites finances and technology to build the bank of the future.

The program reports directly to the Bankia Digital Transformation Committee and the projects have been supported by different business areas of the bank.

In the four editions of Bankia Fintech by Innsomnia (spanish version), 396 startups have been presented and 48 projects have been accelerated, of which 20% came from Spain. 60% of the Fintech businesses that have participated in these programs have ultimately integrated their prototypes as in-house products of the bank or for their clients.

Bankia Fintech will continue expanding its objective of attracting international talent in the coming months with a presence at the specialised fairs Paris Fintech Forum, 4Y4N and South Summit.

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