BBVA API Market
Implementing an API in your business has more benefits when opening a business process than you may think. In fact numerous studies are predicting a considerable increase in 2016 in the number of companies and startups that decide to integrate an API to improve their B2B strategies (business-to-business).
Here are six reasons for this increase:
Throughout 2016, companies will be increasingly using third-party data in their business processes, and above all in their decision-making. They must therefore be prepared to build their strategy by focusing on the whole business process, and following the principles of agile development.
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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.
APIs allow companies to offer their own e-wallets, building a new user experience that drives and contributes to customer loyalty.
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.