BBVA API Market
One of the challenges of BBVA’s APIs open platform is “to make life easier both for the developer and the business manager”. And this is achieved through integrating financial APIs into solutions of different business sectors, stresses Martín Eizaga, Open Platform product owner at BBVA Spain.
Security is one of the premises of the BBVA Open APIs team. Eizaga emphasizes the process followed in integrating the BBVA Cards API: “End users will always have to enter their online banking credentials to give the developer access”. Besides, BBVA remains the one that manages and stores those credentials.
There is a second security factor that implies that an SMS is sent to the end customer’s cell phone to authorize this operation. This authorization is not indefinite, but has a validity period and specific permissions are assigned.
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.
You no longer need to go to a bank branch to open a bank account. APIs allow you to complete this and any other banking operations without leaving your company's own platform, with a fully integrated experience.