October 26, 2020

“Bankia by Insomnia” opens its sixth edition focused on the challenges of digitizing banking


Madrid

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“Bankia Fintech by Innsomnia” has opened this Thursday the call for the VI edition, a new call that will once again bring together the best projects for bank digitization in the national and international environment. The main novelty of what is considered the largest fintech acceleration program in Spain will be the adoption of a specific challenge format for the various areas that will define the banking of the future.

The start of this VI edition will maintain the structure of open challenge for startups, incorporating the approach of seven challenges for which the technological solutions with the greatest potential will be sought: Open Banking, Cybersecurity, Contribution to the Sustainable Development Goals (SDG), Quantum Computing, Future of Health and technologies with high potential in the banking and financial field, such as Virtual Reality or Augmented Reality.

From the entity chaired by José Ignacio Goirigolzarri, the choice of these thematic blocks has responded to the strategic objectives set by Bankia for a true transformation in the sector, with an impact on the business, organization and social commitment areas.

Participants they can present their candidacy on the platform bankia.innsomnia.es until November 30, the date on which the scouting process will be closed and the selection of projects will begin.

As in previous calls, the winners may be part of the acceleration and mentoring program of Bankia Fintech by Innsomnia, which will include training sessions and monitoring by more than 30 heads of business areas, presentations in 10 international hubs and the possibility of access to an investment fund of more than 20 million euros specially created by the banking entity to promote fintech projects developed by startups and scaleups.

Another of the novelties adopted by this edition will be the creation of a previous mentoring phase for all those enrolled, which will have a bag of hours for the experts of the program to guide them in the presentation of their candidacy. In addition, the winning startups will have the possibility of accessing a new fast track itinerary, thanks to which they will be able to join the Bankia structure in record time to develop their full potential.

For Ignacio Cea, Bankia’s corporate director of Strategy and Technological Innovation, «This is an edition focused on very specific challenges of the present and the future, in which we hope to attract the best projects and teams to, with them, within Bankia’s current and future framework ”. In this regard, he stressed that this initiative represents a win-win collaboration model that redounds to the real benefit of the companies that Bankia supports.

From Innsomnia, its head Francisco Estevan has pointed out that «the experience of these years ago has shown us that have room for both the most disruptive ideas and more mature projects and previously tested, which thanks to this initiative have the opportunity to develop their full potential »

Since its launch in 2016, Bankia Fintech by Innsomnia has established itself as the largest fintech acceleration program in Spain, with more than 500 applications submitted and 65 accelerated projects throughout its first five editions. The impact of this program has crossed borders, with more than 20% of international startups selected from 25 countries.

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