BBVA API Market
“Any person, even non-technical, must realize that APIs are important and are a new business model”. Marco Antonio Sanz, founder of CloudAppi and organizer of the Startups and APIs event, stressed the major role played by APIs (Application Programming Interface) in companies. Many experts joined him at the event to explain how opening the core of information to third parties brings new business opportunities.
Sanz highlighted that thanks to APIs it has been possible to set up a company like LeadGods, an application for selling all digital products on a single site. “Without the APIs behind it, this company could not operate. APIs always enable you to open up to third parties and look for other business models”, he stressed.
According to Luis Sorriguieta, CEO of i2Factory, “any company has a set of systems and each one has its own configuration. This is why anything we do must have the possibility of integrating with the customer’s systems”.
Sorriguieta pointed out that the starting point for integrations in companies must be based on APIs, although he cautioned: “We have to connect the APIs easily, so information flows and does not become one more complexity. We need to design APIs that integrate easily into our customers’ systems”.
Arturo González, CEO de Eurobits -a platform that develops financial APIs- went one step further and said “when you are selling an API you have to put yourself in the customer’s shoes. You can’t forget you have to solve a real business problem”.
Alberto González, Product Owner de BBVA, agreed, adding: “Companies expect understandable documentation from APIs, and this is why we have to opt for use cases. This is like a Swiss Army knife, you look at it and you don’t really know what you can do with all the blades. We opted to show use cases for different types of companies”.
Real-time payments have become one of the most noteworthy innovations in the financial industry. Their growth in recent years has been significant thanks to the possibilities they offer companies, especially in customer relations.
Lack of confidence in the payment platform and slow processing are the two factors that most influence the abandonment of purchases from ecommerce. Two problems that can be solved thanks to APIs.
Banks have accelerated their digital transformation as a result of the COVID-19 pandemic. In this new ecosystem, open banking and integrated finance are booming, facilitating banking operations and improving the customer experience.