Cecabank takes part in 'Innovation in Fintech' to promote innovation

5 December 2019
  • Today, Cecabank has taken part in the sector forum Innovation in Fintech in order to boost innovation together with start-ups from the sector
  • Cecabank showcased its commitment through different initiatives. It also stressed the need for a regulatory framework that contributes to bolstering development and protecting users
  • At the event, it emphasised that applications with artificial intelligence will be key to the sector's development in the coming years

Cecabank, the leading wholesale bank specialising in Securities Services, defended the need to champion innovation in the financial sector as a key factor for economic growth at the Innovation in Fintech sectoral forum.

The digital revolution has changed the way of working and providing services in the financial sector. Companies constantly need better solutions to develop their business in a demanding market. Faced with this reality, creativity and innovation are key pillars to offer cutting-edge products and services.

For this reason, Cecabank has taken part in the Innovation in Fintech sector forum, promoted by CEOE and Grupo PGS. The event featured professionals from organisations such as the General-Directorate of the Treasury, Banca March, BBVA, Caser, Allfunds, Orange Bank and several start-ups that are creating innovative and disruptive products for the financial sector.

Fostering improvement in the business fabric

This initiative seeks to detect start-ups operating in the sectors of the forum's collaborators to foster innovation in the business fabric and promote contact between these new companies and the collaborators who may be interested in the activities they carry out. It features more than six main themes, with Cecabank focusing on the area specialising in fintech companies. Within this area, they consider that it is artificial intelligence-based applications that offer the greatest value for users of financial services.

Along these lines, Cecabank has launched various initiatives in the field of financial innovation. All of them meet the needs of the market and the business of entities; these range from investing in start-up companies to collaborating and taking part in joint projects with them. Collaboration and cooperation are in the company's DNA, in its history and in its culture

Representing Cecabank at the event were Javier Planelles, corporate director of the Operational Services Area, and Julio Merello, head of Data, Methodology and Innovation in Technological Services. Both highlighted the need to keep up with the ongoing technological changes taking place in the market, since many of them mark the course of action and the financial services of the future.

Innovation, a corporate value at Cecabank, on display at 'Innovation in Fintech'

For Javier Planelles, "innovation is key, but especially at times, such as the present, when technology has allowed new players to provide services that were formerly part of a vertical value chain. Innovation and collaboration are two sides of the same coin".

On the other hand, Julio Merello took part in the round table discussion, highlighting the importance of data and the application of artificial intelligence in banking, stating that "the use of artificial intelligence becomes a key means of applied innovation, which is allowing us to define new banking concepts such as behavioural banking, in addition to others.

For Cecabank, it is crucial to meet the new players and this type of initiative facilitates this connection between all market participants.

The Innovation in Company programme is an excellent path to continue working on the creation of ecosystems with leading market partners and championing innovation in the financial sector, as Cecabank has been doing in recent years. This is why innovation is one of the corporate values, as it is intended as a lever to come into contact with innovative ideas that can be used to collaborate now or in the future. However, it is important that innovation comes with a regulatory framework that encourages its development and the protection of users.