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On Thursday, March 5th, Strands CIO Marc Torrens was at the BBVA Innovation Center in Madrid to participate in a special FinTech edition of The API Hour.
For the first time, The API Hour took place over the entire day and featured the most relevant companies and professionals in FinTech. The event explored how the financial world is being disrupted by projects, applications and revolutionary startups that thrive at the nexus of technology, banking, investment & finance.
Marc spoke about “Analyzing data to offer relevant banking offers to customers” during the afternoon session at 15:35 CET. Here’s a breakdown of his talk:
- Banking Industry: Innovation or Death. Banking services are being commoditized and are already competing with new players such as giant Internet companies. The new game is on how to extract insights from data to provide financial solutions instead of simply financial products.
- Card-linked Offers (CLO) as an example
- Using machine learning to extract insights from banking data