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BBVA acquires Madiva, a Big Data start-up, to accelerate their development of new services

12/30/2014 04:53
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BBVA has acquired Madiva Soluciones, a Spanish start-up company specialized in Big Data- and cloud computing-based services. This operation is part of the transformation process that the BBVA Group is implementing with a view to leading the financial sector in the digital era.

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Big data offers great potential to BBVA, and Madiva strengthens our capacity straight away”, explains Carlos Torres Vila, responsible for Digital Banking at BBVA. “Madiva will undoubtedly help to create a better offering for our clients”.

Founded in 2008 and headquartered in Madrid, Madiva became profitable during its first year by providing products for insurance, banking, real estate and consulting companies, among others. Its services streamline existing processes and create new business opportunities by processing unstructured data and online mass information, and cross-referencing them with other sources. Thanks to its system, real estate mass rating now takes hours instead of months.

Madiva will continue to operate independently, providing services to BBVA and other clients. “BBVA is definitely a bank committed to innovation“, stated Juan José Divassón, Madiva's CEO. “We wanted to be a part of the company with the deepest understanding about the potential of our business“. Together with Simple (USA) in February 2014, Madiva's acquisition forms part of BBVA's strategy to expand the Group with companies that are developing disruptive technologies and business models. This is one of the key axes in the BBVA's comprehensive transformation process to create the best customer experience in the digital era.

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