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NEWS BBVA likes to move it (with Ripple)


implementation of an international money transfer between Europe and Mexico using Ripple’s distributed ledger technology. The initiative, running on BBVA infrastructures with real money, saw the completion of transfers between Spain and Mexico in a matter of seconds (these currently take up to four days to clear). Clients will also have access to much clearer information about the costs associated with the process and will be able to view their payments’ status at all times.


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“This pioneering initiative is a clear demonstration of how payment processes can be vastly improved through the implementation of emerging technologies. These improvements will benefit our clients’ transactionality,” says Alicia Pertusa, Head of Digital Transformation in Investment Banking at BBVA.


“We are very excited that BBVA, one of the most tech- Crédit Mutuel in IBM Watson roll-out


across 5,000 Crédit Mutuel branches in France, marking its first commercial use by an FI in the country.


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For the past year, the French bank’s customer advisors have been using the software, which has in turn helped develop the AI’s French capabilities. By June 2017, the 15 federations of Crédit Mutuel will have adopted Watson- based solutions. These include the Email Analyzer, to manage customer emails, and the Virtual Assistant, which provides information on offerings from insurances to investment products. Their deployment follows a pilot project with high approval ratings.


“Crédit Mutuel is focused on making their customer relationships more personal and valuable, and we are proud to work with them as they demonstrate how Watson is helping their employees more quickly provide the right


BM’s Watson technologies have been rolled out BVA is laying claim to “the first real-life”


forward banks in the world, has joined the Ripple network to transform their cross-border payments,” says Marcus Treacher, Global Head of Strategic Accounts at Ripple. “While others are content to merely experiment with blockchain, BBVA is working with us to move real money and in doing so, will establish the future new level of service for their customers.”


The Spanish FI is developing several blockchain pilots, including a R3 collaboration in syndicated loans. BBVA is a member of the R3 consortium and recently joined the Ethereum Enterprise Alliance and Hyperledger.


Scott Thompson


answers to customer questions,” says David Kenny, Senior Vice President, IBM Watson & Cloud Platform.


Crédit Mutuel will extend its use later this year for health, personal risk insurance, car credit insurance and bank services. RBS in the UK and SIX in Switzerland (pictured) have also taken up IBM’s technology in the past year.


Henry Vilar


www.ibsintelligence.com © IBS Intelligence 2017


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