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.

The PSD2 Directive has boosted the use of APIs that improve the security and automation conditions with which payments are executed, such as BBVA Accounts PSD2, Funds Confirmation PSD2 and Payments PSD2.

A new edition of the Secure Payments & ID Congress was held on November 17, an event dedicated to analyzing the current state of collection and payment services, authentication and identification processes, and fraud security and prevention.

Online businesses are offering more and more facilities for customers to pay for their products. It is becoming more common to integrate financing into retail applications, and it is an added value for companies that implement it within their platforms.

Startups and existing companies in the process of digitization need a new set of digital tools to help them transform their businesses and get more in tune with their customers' needs. If possible, they should develop frictionless systems that do not create barriers to entry for the business, as occurs with some banking solutions.

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 is driving the development of new apps that are integrated into company platforms, all in an effort to offer banking services to customers. Thanks to APIs, any banking operation, such as opening an account, can be done without the need to exit an application.

The digital transformation has not been fully implemented in the automotive sector yet, at least not as quickly as in other distribution sectors. APIs can be this sector's best ally by speeding up its digitization, especially in those areas involving the purchasing process.

For many business sectors, the purchasing process is critical. APIs have helped improve the changes of many of these businesses, for example by offering instant financing to their customers.

Recent years have seen notable advances in the international payment system, and corporate cash flow is just one aspect of this new paradigm. Mobility and 24/7 access to real-time information, rather than being an added value, are now a requirement for most workers.