BBVA is embracing open innovation by connecting and collaborating with the fintech community to bring new technologies and solutions to customers. Over the past 9 years, BBVA has scouted over 5,300 startups across 71 countries through its Open Talent program and has completed over 3,000 projects leveraging external partnerships and knowledge. BBVA aims to transform its value proposition and disrupt its business model through open innovation by exploring innovations, co-creating solutions with startups, partnering, acquiring and investing in startups. BBVA measures the success of its open innovation efforts through metrics like the number of connections or "collisions" between startups and its teams, the size of its innovation community, and the number of projects originated from

1. Apollo / 1
Nordic Finance Innovation
February 1st,2018
Open Innovation at BBVA

2. Are we learning as fast as
the world is changing?
Fast Company co-founder Bill Taylor

3. “Open innovation is a distributed innovation process based on purposively
managed knowledge flows across organizational boundaries…
using pecuniary and non-pecuniary mechanisms in line with each organization’s business model.
These flows of knowledge may involve knowledge inflows to the focal organization (leveraging external knowledge
sources through internal processes), knowledge outflows from a focal organization (leveraging internal knowledge
through external commercialization processes) or both (coupling external knowledge sources and commercialization
activities).”

5. CONTEXT

6. People don’t like
banking

7. Technology is enabling
things that were
unimaginable

8. There is a job to be done:
From infrastructure providers
around money to having a
positive impact on people’s
lives and businesses
To bring the age
of opportunity to
everyone

9. +70 m
customers
35
countries
+130k
employees
719 €bn
Total assets
3,449
Net attributable profit
Sep.’17

10. OPEN INNOVATION
AT BBVA

13. OPEN INNOVATION
Manifesto
CONNECTING &
COLLABORATING WITH THE
FINTECH COMMUNITY TO
BRING AMAZING TO THE
HANDS OF THE CUSTOMERS

14. Defining “external ecosystem”
Startups Corporations
Government, Academia &
Institutions
Ecosystem Builders

15. Pág.
OpenTalent - 9 years of learnings
375
projects
329
projects
318
projects
2010 20112009
Digital
Life
New
Banking
916
projects
2013
825
projects
91
projects
24
countries
500
projects
2012
476
projects
24
projects
21
countries
870
projects
2014
704
projects
166
projects
56
countries
2015
FINTECH ONLY!
999
projects
999
projects
63
countries
2016
1217
projects
1217
projects
77
countries
External Awareness Tech area focus Regional focus
Fintech focus
BU connections
Spain
2017
798
projects
798
71
countries
Relevance for Biz

16. &
Transform
Disrupt
Scout Co-create Partner Acquire Invest
+5.300
Start-ups
SCOUTED
Develop innovations
Venture creation
Business
Infrastructure
Co-exploring
Open Innovation
Collisions & Pilots
Pilots identified from business
needs and matchmaking with
startups
BBVA is a relevant player in the Startup and Fintech ecosystem
Transform the value proposition to our customers
&
Disrupt developing new business models to non customers

17. The trickle of innovation

18. Keys:
- Smart network / efficiency
- Trust
- Reciprocity - benefit for
all

19. Competitions
To identify the best
+ Open Talent (startups)
+ Open Talent Ideas
Ext Partners
& Alliances
Physical
Spaces
Community
Open
Innovation
HUB
Internal
Partners
Tools & Int.
Machine
What we do Give startups what they need from us
+ Marketplace
+ Open Platform / APIs / Data
+ Processes (startups as customers)
w/Adjacent Interests
+ Customers
+ Investors
+ BBVA “Friends” (eg.
allianz)
+ Institutions (eg. CERN)
To connect all players in the
ecosystem
+ BBVA Open Friends and Founders
+ Events
+ Connection with other initiatives
(OpenMind, Momentum, etc.)
Partners within BBVA that will
undertake the Projects
+ Needs / Opportunity Inventory and
follow-up
+ Matchmaking Process
+ Projects Follow up
For ecosystem connectivity
+ Current Innovation Centers
+ New Hubs

20. Measuring Success
# of Collisions = Real connections between startups and
BBVA’s teams
#Active Members of the community = both internal and
external
We will measure learnings… Definition in Progress
# of projects originated
Pilots, PoCs, Opportunities due diligences with
Propel or M&A, direct implementations, etc.
Supporting indicators

21. OPEN INNOVATION
Are we considering all the opportunities?
Known Solution
KnownOpportunity
No Yes
NoYes
CoPs &
Experts
CoPs &
Experts
CoPs &
Experts
CoPs &
Experts
Prescriptors
Evaluator Evaluator
Advisor
BU Pull
Scouting OI Push
Solved Internally / Already a Project
CoP = Organised and unorganised experts groups