BBVA Open Talent is looking to find the best fintech ideas from around the world, with €150,000 in prize money for the overall winners.

BBVA will also fast-track the winners on to the bank's proof of concept workstream.

The competition consists of three main prizes, with each one offering a prize of €50,000, an immersion week at the bank, exposure at a major global banking conference and a slot at BBVA's Open Innovation Global Summit in Madrid.

The categories are:

• fintech for future: the idea most like to reshape and disrupt banking in the next decade
• fintech for people: the idea most likely to improve the customer banking experience and positively change the way people manage their money and data
• fintech for business: the idea most likely to transform the way businesses manage the financial or data side of their operations.

Derek White, global head of customer and client solutions at BBVA, said: “BBVA Open Talent is a clear example of how the bank has been working with the fintech sector for many years, and supporting the innovation that is driving the financial services industry.

“Don't underestimate the impact of this competition – if you are a start-up looking to kick-start your growth, then the insights, relationships, opportunities and networks you can build through Open Talent [can] create [a] massive impact.”