BBVA API Market
It would be difficult to understand the true value of APIs for a company only as a means of communication between applications. In other words, APIs understood as tools designed by a programmer to send data from a platform to an application without which the latter could not function.
APIs have fostered a new communication model between companies and the community of developers, where the opportunities to collaborate increased exponentially. Application programming interfaces facilitate the search for inward and outward synergies in organizations; they are an easy way of incorporating external services, products and processes into a company or to provide these outward, with the possibility of monetizing each idea. APIs have changed the way of doing business completely: more open, more democratic, where talent is an opportunity to generate business.
APIs are the core on which tomorrow’s organizations should be built, especially with two major events in any strategic plan:
APIs very much simplify the creation of products and services and, therefore, a company’s ability to launch an idea rapidly in the market.
Reducing time-to-market considerably represents a reduction of costs and increases the chance of success.
Shortening time-to-market not only reduces costs, it also prevents disappointments. The earlier a product/service is tested with clients, the earlier noise and surplus will be removed and the earlier the most interesting functions for users will be found. A shorter time-to-market means improving and achieving a successful product earlier, with the capacity to generate income and business.
Rulebook 43 is one of the main banking communication standards. It allows any company to receive daily statements of its accounts and, although they still have a long way to go, APIs can help implement it in any size of company.
Checkout financing is a digital alternative to credit cards that boasts advantages such as flexibility, creating one credit facility per customer and ensuring their future loyalty, thus improving the customer lifetime value.
APIs can be designed to facilitate customer onboarding, so that the necessary steps are simplified and registration for the bank-mediated service is maximized.