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Innovation is part of the bank’s day-to-day activity and is present across the organisation in customer service, talent management and the governing bodies, among other aspects.

One of the bank’s main projects is Bankia Fintech by Innsomnia, considered Spain’s largest open innovation centre. Bankia Fintech is a startup incubator and accelerator in which solu-tions have already been developed for strategic business segments such as SMEs and the self-employed.

Bankia Fintech is headquartered in the Valencia Royal Marina, which has established itself as Spain’s leading innovation centre.

To stimulate business innovation, Bankia sponsors events such as the ‘Digital Competitive-ness Awards’, the ‘Comprendedor Awards’, the ‘Bankia Accelerator by Conector’ competi-tion and the ‘Innova Pyme’ and ‘Spain Startup South Summit forums’.

Additionally, to help detect trends in fintech business models, the bank uses ‘The Innovation Observatory’, whose mission is to anticipate changes in customers’ needs and detect im-provement opportunities.


The Bankia Fintech philosophy is based on open innovation and collaboration among the parties involved.

Regular contact with companies helps Bankia choose the right moment to enter into joint ventures with the participating startups, which are tutored by a business partner from the moment they are selected.

In 2018 Bankia Fintech completed its third call for applications. Following the success of this third call, the fourth round will bring together entrepreneurs from Spain and the rest of the world.

A total of 126 projects from 16 countries have been submitted, of which the 18 most likely to contribute value and solutions to Bankia have been selected. Approximately 60% of the com-panies from the first batch have entered into business agreements with the bank.



In order to be able to add new products, services and channels to Bankia’s portfolio, the Innovation and Cyber Security Corporate Directorate focuses on various core themes cover-ing the bank’s business areas and other areas of central services that help identify levers of change.

This has made it possible to explore and develop proof-of-concept trials and minimum viable products in the following areas: blockchain, artificial intelligence, neobanks, roboadvisory and agile management.

The bank has a blockchain laboratory, from which it works to simplify and increase the effi-ciency of certain processes, such as personal data management.

This exponential technology is expected to transform many industries, financial services being one of the sectors with the greatest potential.

Blockchain uses unalterable, distributed databases, in which transactions are validated by consensus rather than by a centralised decision maker. This opens a raft of opportunities for banks in areas such as real-time cross-border payments, the issuance of digital assets or the management of customers’ personal data.

One of the main milestones of 2018 was the development of the ‘Stockmind’ platform, using blockchain technology. This platform provides instant traceability of any asset, real-time ac-cess to all its data (condition, location, ownership) and sharing of those data among all the actors in the chain.


To speed up the loan approval process, Bankia assesses risk using new credit scoring and rating models and uses artificial intelligence applied to IT systems, simulating the human thought process and learning in each interaction.

Artificial intelligence is used in cyber security to detect threats by analysing user behaviour whenever anomalous patterns in network traffic and fraud are observed.

During 2018, the bank also worked on another 40 innovation initiatives, collaborating with experts, trialling new applications and testing the integration capacity in Bankia. To create a more efficient environment, the bank improved various technical tools implemented during 2017:

  • Identification of opportunities through the analyses and reports issued by the Inno-vation Observatory.
  • A scoring system that situates each new initiative on a theoretical horizon that measures the estimated time until it becomes a reality.
  • A sandbox or testing environment that includes simpler procedures for working with startups.
  • An innovation process map, based on the agile management methodology, which in-dustrialises procedures and speeds up the feasibility testing of new products and services.

In 2019 Bankia will continue to develop its innovation model, exploring the most disruptive trends that are likely to afford the greatest competitive advantage.

Also, the entity will investigate new use cases for blockchain technology, with the help of the laboratory created in 2017 and continue to extend the agile management methodology to promote cultural change and make innovation the bank’s defining characteristic.

Bankia further undertakes to lay the ethical groundwork for the financial environment and the application of the new technologies to the bank’s processes.


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