BBVA API Market
In 2015 Francisco González, chairman of BBVA, stressed the importance of applied technology in the financial sector with this statement: “BBVA will be a software firm”. And one year later, many banks have now embarked on their digital transformation.
For this purpose the United Kingdom set up the Open Banking Working Group, which prepared a roadmap for open banking entitled The Open Banking Standard, designed to protect customers and stimulate innovation in the banking sector. This guide outlines how financial data must be generated and shared.
Last May Apigee hosted the event entitled Open Banking Summit 2016, aimed at financial services executives. The idea was to offer them advice and inspiration about how to start implementing their own banking strategy, and explain how APIs can help ensure the success of their initiatives
Several financial services executives shared advice in the 2016 Open Banking Summit on how to ensure the success of open banking projects. These are the five keys for achieving it:
Source: Information Age
Taking a customer through the entire buying process until it is formalized is an arduous journey and one that faces the constant possibility of the customer leaving. However, there are ways to make the buying decision happen if you are given facilities such as agile, secure financing.
Open banking has changed the financial paradigm as we have known it so far. The widespread use of new digital platforms, connected devices and technology consumers has led to a boom in business opportunities for every company, many of which are already leveraging their benefits as much as possible.