Bankia S A : launches ChainLab, a blockchain solutions laboratory for the financial sector

• In collaboration with Oaro, a startup participant in the '4th Call of Bankia Fintech by Innsomnia', the open acceleration and innovation programme dedicated to the development of security and certification solutions to address fraud prevention, as well as for the improvement of process efficiency
• The creation of this laboratory reaffirms Bankia's commitment to forge lasting commercial relations with those projects participating in Bankia Fintech that add value to the transformation of the financial sector

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

Oaro is one of the startups that were part of the '4th Call of Bankia Fintech by Innsomnia', Bankia's open acceleration and innovation programme. Its participation in the project has been key to identifying the capabilities of its technology and the possibilities it offers to shorten the implementation of solutions using blockchain technology.

The collaboration between the two companies has helped to develop a proof of concept for the management of real estate assets. The success of this test has been the precursor to take the 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 commercial relations 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 to commercial operations and business processes in a simple and agile manner, in line with Bankia's strategy of making life easier for its customers.

This company focuses its activity on the development of security and certification solutions, accompanying its customers to address challenges for the prevention of fraud, the traceability of information flows, access security and improved process efficiency.