Bankia Launches ChainLab with OARO

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Bankia has launched ChainLab, a laboratory of use cases of blockchain technology for the financial sector in collaboration with Oaro, with the aim of working on the identification and production of solutions that promote the transformation of the sector, from the improvement in processes, up to the generation of new business models.

Oaro is one of the startups that were part of the ‘IV call for Bankia Fintech by Innsomnia’ , Bankia’s open acceleration and innovation program. Your participation in the project has been key to identify the capabilities of your technology and the possibilities it offers to shorten the implementation of solutions with blockchain technology .

The collaboration between both companies has allowed the development of a proof of concept for the management of real estate assets . The success of the test has been the forerunner to take collaboration to the next level.

The ChainLab laboratory will allow both companies to continue collaborating with the aim of sharing Bankia’s experience in the financial sector, with Oaro’s technological innovation.

The creation of this laboratory reaffirms the bank’s commitment to forge lasting business relationships with those projects participating in Bankia Fintech that add value to the transformation of the financial sector .

Oaro is a technology startup that aims to bring the advantages of blockchain technology closer to commercial operations and business processes in a simple and agile way , in line with Bankia’s strategy of making life easier for the customer.

This company focuses its activity on the development of security and certification solutions , accompanying its clients to tackle challenges for the prevention of fraud, the traceability of information flows, security of access and the improvement in the efficiency of processes.

Read the original press release here