BBVA API Market
BBVA is collaborating with one of the most valuable channels of innovation: universities and business schools. These are the seedbeds that produce the people with the necessary tools, knowledge and training to create innovative business models and successful initiatives that will set the trends in coming years.
One of the most important contributions has been the one that has been carried out with ESADE Business School through the Innovation Summit. This event involves different companies, leaders in their respective sectors, with many challenges for students. Each challenge has 3 multidisciplinary teams formed by between 4 and 5 people from the Fulltime MBA and Executive MBA. During the development of the solutions to the challenges, participants use the tools learned during the master to generate conceptual ideas, prototypes, market research, and finally, a proposed solution which becomes the company’s intellectual property.
BBVA participated in this event through a lecture that covered the latest trends as regards the financial sector. The bank also launched a challenge in which students are challenged to develop a strategy that manages to attract developer communities to the bank’s environment and, more specifically, the Open Innovation area. Thus, the participants in this challenge developed theories that were used to better understand the functioning of communities of developers, items and activities that are attractive and the current image that they have of BBVA.
This produced a variety of highly-attractive initiatives designed to make developers change their concept of the bank and took into account making use of the opportunities BBVA offers to these communities. There was talk of competitions, providing them with a meeting place (community) and presenting them with attractive challenges that encourage participation.
You can learn more about this initiative in this video.
Open finance has become one of the main drivers of digital financial change worldwide. Its implications go far beyond those of open banking and may serve to change the current financial paradigm in some regions such as Latin America or Africa.
APIs allow companies to offer their own e-wallets, building a new user experience that drives and contributes to customer loyalty.