Insights & Analyses

In the K(NO)W: SnapSwap wins €30,000 grand prize in BBVA Open Talent 2017 Identity competition

Washington D.C. — SnapSwap, a white label mobile onboarding service, won the grand prize in BBVA’s 2017 Open Talent Identity competition, which pitted some of the world’s best identity-focused startups against each other at the first-annual K(NO)W Identity Conference, all for a €30,000 prize.

In addition to the funding, SnapSwap also won an “Immersion Week” at BBVA’s headquarters in Madrid. The Startup will also participate in the BBVA Global Summit, where it has a chance to win the title of fintech of the year and take home a grand prize of €50,000.

SnapSwap’s remote digital onboarding product promises compliance with anti-money laundering and “Know Your Customer” requirements via a smartphone, tablet or personal computer in less than 6 minutes.

Pitching “onboarding as a service,” SnapSwap says its product can provide a fully automated procedure, available 24/7, with no human interaction required. It’s approved by CSSF Luxembourg, passported in 28 European Union member states, and available on Android, iOS, and the web.

“We are really grateful to the BBVA team for inviting us and giving us a chance to showcase our product On the stage with all of the other great startups here,” SnapSwap founder and Chief Executive Denis Kiselev told One World Identity after accepting the award Wednesday. “It’s a great opportunity for us.”

SnapSwap beat nine other startups vying for the crown at the K(NO)W Identity Conference. The other participants were:

  • Biid
  • Crayonic
  • Global Data Consortium
  • Electronic IDentification
  • NuCypher
  • privaKey
  • SAASpass
  • SBM id
  • Soffid IAM

BBVA also hosted a business-case hackathon, which challenged teams to propose solutions to update BBVA’s identity global management systems.

BBVA Head of Business Development Pepe Olalla

Arjun took first place in the hackathon, while Project C.A.T. came in second, and Soffid IAM took third. The winners were presented by BBVA head of business development Pepe Olalla, who helped close out the inaugural K(NO)W Identity Conference.

The show featured dozens of talks and panels tackling the sometimes thorny and complicated issues that exist in the world of identity. Highlights included keynote presentations from whistleblower Edward Snowden and Consult Hyperion Director David Birch. One World Identity’s K(NO)W Identity Conference will return to Washington D.C. at the end of March in 2018.