Bankia signs up seven companies that it accelerated in the first Bankia Fintech by Innsomnia program

Bankia has signed up seven companies that it previously accelerated in the first Bankia Fintech by Innsomnia program, Spain’s first fintech incubator and accelerator. They represent half of the start-ups that completed the acceleration program last June.

“The high quality of the accelerated projects and their alignment with the bank’s digital transformation strategy has enabled us to reach an agreement to contract half of the companies that took part in the first Bankia Fintech by Innsomnia program, which is a genuinely high percentage for these types of projects”, said Ignacio Cea, Corporate Director of Technology Innovation and Strategy at the bank.

“We are committed to open collaboration with the fintechs in order to add value to our customers”, said Cea, who went on to add that “collaborating with startups has become a source of solutions that can introduce Bankia to new ways of working, as well as access to external talent and new opportunities”. “We are convinced that this is the way to accelerate our innovation”, he said.

The companies accelerated by Bankia Fintech by Innsomnia and subsequently contracted by the bank offer a wide range of technology solutions in different financial areas, including risk, SMEs and the self-employed, payments, financial markets and business geolocation.

Betterplace, Declarando and Exportory are three of the start-ups offering solutions for SMEs and the self-employed, both seen as strategic segments by Bankia.

• The contracted companies offer a wide range of technology solutions in different areas including risk, SMEs and the self-employed, payments, financial markets and business geolocation, among others
• “We are committed to open collaboration with the fintechs in order to add value to our customers”, said Ignacio Cea, Corporate Director of Technology Innovation and Strategy at the bank
• Bankia is working with the fintechs “under extremely flexible conditions”, with an innovation team dedicated to “facilitating the adaptation and integration of their ideas and proposals into the bank’s range of services”, said Cea