BBVA-backed digital bank Azlo set to launch across the US

By Pouyan Broukhim
Share

BBVA has revealed that its majority-owned, tech savvy banking startup Azlo is set to launch across the US, marking the Spanish bank’s latest attempt to move more readily into the digital sphere.

Azlo is particularly geared towards providing a new level of banking provision to freelancers, small businesses, and others who offer a “work on demand” service.

See also:

“Azlo’s goal is to level the playing field for the growing number of entrepreneurs and small businesses who wish to participate in an expanding global economy that is driven by entrepreneurs, small business owners, and freelance professionals,” said CEO Brian Hamilton.

The startup will do this by offering an increased availability of both domestic and cross-border banking services including accounts with no fees or minimum monthly deposits required.

BBVA has entered into a number of similar ventures and collaborations with other digital banking players including its cybersecurity-centric partnership with Covault on biometrics, its purchase of Simple in 2014, and acquisition of both Atom Bank and Holvi in 2015.

“The move, similar to the recent announcement about digital security business Covault, is part of BBVA’s focus on fostering disruption in the banking sector, and ensuring it learns from the innovations coming from outside the business,” BBVA said.

Share

Featured Articles

What is Nestlé CEO Laurent Freixe’s Action Plan?

Newly appointed CEO sets out action plan involving separating water brands into standalone business and boosting advertising and marketing spend

Will Mulberry Turn a New Leaf Under CEO Andrea Baldo?

International British luxury brand cuts quarter of head office staff as newly appointed CEO conducts strategic review

Female Board Members of Biggest UK Companies Paid 69% Less

Female board members of FTSE 100 companies are paid 69% less than male counterparts, as they find themselves frozen out of the biggest roles

Is This the Next CEO of LVMH?

Leadership & Strategy

How Burberry’s New CEO Is Going Back to Basics

Leadership & Strategy

Is Bayer CEO Bill Anderson Running Out of Time?

Leadership & Strategy