Confirmation of funds is a service regulated by the PSD2 Directive intended to find out whether a certain customer has enough funds in their bank account when making a charge using their credit card.
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.
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.
Visa, the manufacturer of debit and credit cards, and the Spanish bank BBVA, are two good examples of the use of APIs for creating an agile and secure banking sector, in areas such as payment methods, fighting risk and fraud, or services to third parties.
Localism and lack of standardization in retail banking are some of the problems facing open banking in Europe. Despite this, experts predict a "bright future" in which the main beneficiary will be the consumer.
How do town-planning decisions affect a city's routines? How can data help assess and make decisions? The granularity and detailed information offered by PayStats allowed Madrid's city council to draw a more accurate map of consumer behavior and gain an objective measurement of the impact of the traffic restriction measures on commercial activity.
The motto of the event was 'The New API Stack for the Programmable Society'. With the title The BBVA API_Market Open Banking experience, our workshop focused on the change among retail clients and businesses brought about by open banking, as well as the latter's key role in financial transformation.
An increasing number of sectors –apart from the media and social networks– are beginning to understand the importance of push notifications as a vehicle for showcasing new offers, products and services to users,
How much does a 30 year old woman spend on restaurants, at which times and on which days of the week? What is the average bill for a meal in zip code 28100? If I close a road to traffic, will people's consumer habits change? What impact does a big event like World Pride have? Where do my buying customers come from? Where do they go? These are just some of the questions answered by PayStats.
From the beginning of the 21st century, large companies have been developing APIs so that they could become the technological key they are today.
