From left: BBVA Chairman Francisco Gonzalez, Change CEO Yaniv Levi, Change CPO Assaf Priel and BBVA Head of Customer Solutions Derek White.
Change won the 2017 BBVA Open Talent Competition! Oh, you know, only the most important and prestigious financial start-up competition in the world.
After months of anticipation, preparation, sleepless nights and milestone wins, Change edged out strong competitors developing the most sophisticated FinTech solutions of the future, for the coveted top spot. As you may recall, the first step in our journey to the top was winning the AI Category of the BBVA competition in May, which took place at Money 20/20 in Copenhagen. Then, it was time to compete with the winners of the other pre-qualifiers, including Regional, Companies, Global Trends and more. All in all, more than 1,000 hopeful start-ups applied to this year’s BBVA Open Talent Competition.
The future of FinTech: Artificial Intelligence
Change’s winning solution aims to give everyone a personal financial advisor in bot-form. Unlike a human advisor, or a bank, Change’s AI algorithm always pursues the user’s best interest – whether that’s automating savings and bill payment, or preventing overdrafts and fees. This leads to a measurable improvement in people’s finances and, subsequently, their lives.
Change CEO and CPO Yaniv Levi and Assaf Priel described the ongoing process with BBVA as ‘amazing’: “We have been in touch with other global banks, but the engagement between BBVA and us was so deep, and so well connected that it made a huge difference.”
The future of banking: Technology
Before announcing Change as the big winner, BBVA chairman Francisco Gonzalez laid out his vision: “Banks are not going to be banks in the future, they will be service providers, they will be platforms for financial and non-financial services.”
One of the main challenges banks face in the coming years is, in his eyes, competition from emerging technologies. He added: “Digital disruption will hurt banks [that] are not transforming very much. Banks are not going to be banks in the future, they will be platforms for financial and non-financial services.”
The future of Change: Nonstop innovation
Now for the best part – dreaming up what this means for Change. As you recall, winning the AI category gave us a major boost in terms of potential investments and partnerships, all further solidified by this recent win. We’re confident in the value we provide users, and it’s only going to get better with the exciting features and capabilities we’re working on.
Sign up today for your own personal CFO, and if you work at a bank and would like to discuss implementing our AI, drop us a line firstname.lastname@example.org.