Spanish banking giant BBVA has announced the 56 finalists for its eighth Open Talent competition that aims to seek out and support new fintech startups and innovations.
The company whittled the 56 finalists down from more than 1,200 entrants. The startups will compete in three separate events in New York, London and Mexico City.
Each region elects two winners which both receive 30,000 ($33,000) in cash and the chance to develop their product alongside BBVA.
The Spanish bank highlighted the regional diversity of the selected teams with startups coming from 17 different countries including, for the first time, teams from Azerbaijan, Japan, Latvia, Singapore and Turkey.
Of the 1,200 startups that entered the competition 45% where from BBVA’s native Europe, with 35% coming from Latin America and 18% from the US and the rest of the world.
The company says that the major areas for entrants were payments, which made up 27%, wealth management (22%) and lending (19%).
The regional finals will be held thought September.
Copyright © 2016 FINTECH GLOBAL
