Christina Anderson from BBVA writes:
Cambridge Blockchain and Precognitive won 30,000 euros as part of their victory at Open Talent, a global contest sponsored by Madrid-based BBVA to identify the talent and ideas that will transform the world of finance. Cambridge Blockchain, founded by Matthew Commons in Boston in April 2015, is an identity management platform for financial institutions that eliminates redundant compliance steps while improving the customer experience. Precognitive is fraud prevention technology for electronic devices that combines artificial intelligence and behavioral analytics to detect and prevent fraud in real time. It was founded by Sam Bouso in Chicago in January 2016.
The jury heard the pitch of the 20 finalists to complete its evaluation and choose the final two winners. The finalists presented their projects to the New York Next Money audience.
Cambridge Blockchain, founded by Matthew Commons in Boston in April 2015, is an identity management platform for financial institutions that eliminates redundant compliance steps while improving the customer experience.
“Cambridge Blockchain and Precognitive underscore what this competition is all about,” said Head of Open Innovation and Open Talent for BBVA Marisol Menéndez. “The ideas behind their companies are interesting and hold great promise for the world of finance. We’re ready to work with them to explore the opportunities that we hope will help transform the industry.”
Cambridge Blockchain and Precognitive were chosen by a panel of five executives representing different units within BBVA. Judges included BBVA Compass Chief Information Officer Gabriel Sánchez Iniesta, BBVA Compass Head of Business Development Pepe Olalla, Propel Venture Partners Senior Partner Ryan Gilbert, BBVA Head of UX Strategy and Partnerships Sanjay Shamdasani and Menéndez.
”Both winners showed great understanding of today’s digital environment,” Sánchez Iniesta said. “Fraud prevention is a core competency in any bank’s digital transformation, and exploring the possibilities of the blockchain is considered just as critical.”