BBVA, a Spanish bank, reinvents itself as a digital business
It wants to be as nimble as a fintech startup; shareholders are having to be patient
OUTSIDE, a patch of grass affording a spectacular view of the Sierra de Guadarrama is littered with cartridge casings. Inside the Club de Tiro de Madrid (Madrid Shooting Club), on the city’s northern edge, over 400 people are fixing their sights for the next three months. Their business is not shooting but banking. Teams sit at 27 tables working on specific projects—to improve the global mobile platform, say, or to share information about job applicants. At another 12 tables are data specialists, in-house lawyers and others whose expertise the teams will need. The targets are on the walls: white boards that are soon covered in yellow and pink Post-it notes, listing tasks for the weeks ahead.
This article appeared in the Finance & economics section of the print edition under the headline “Moving target”
Finance & economics October 14th 2017
- Technology is revolutionising supply-chain finance
- The finance industry ten years after the crisis
- Brexit will give the derivatives market a nasty headache
- The internationalisation of China’s currency has stalled
- In dirt-poor Myanmar, smartphones are transforming finance
- BBVA, a Spanish bank, reinvents itself as a digital business
- Richard Thaler wins the Nobel prize for economic sciences
Discover more
The great-man theory of Wall Street
Why finance is still dominated by bold individuals
Hong Kong’s property slump may be terminal
Demographics and geopolitics will make a recovery harder
Why everyone wants to lend to weak companies
An unanticipated side-effect of Donald Trump’s election victory
American veterans now receive absurdly generous benefits
An enormous rise in disability payments may complicate debt-reduction efforts
Why Black Friday sales grow more annoying every year
Nobody is to blame. Everyone suffers
Trump wastes no time in reigniting trade wars
Canada and Mexico look likely to suffer