BBVA API Market
We want you to get to know us better as well as learn about what we do, how we can contribute to your business and what we can add to your company or institution. That’s why, day after day and little by little, we’ll tell you about it here.
We love APIs and want to share our experiences with you.
BBVA started working with APIs more than six years ago, but our story really began in 2013. That year, for the first time in Spain, BBVA opened up anonymous and aggregated statistics on banking transactions to third parties during the first Innova Challenge Big Data datathon. Through an open API, it offered a community of 780 programmers information on its Madrid and Barcelona customer segments. The challenge was to create apps to improve customer performance.
Due to the initiative’s great success, a second edition of this datathon took place in 2014 in Mexico, with information from BBVA Bancomer.
In addition to the innovative apps developed by the participants, these initiatives helped validate BBVA’s commitment to APIs, as an ideal means of integrating and connecting our systems with external systems, in an easy and secure way. From there, we began to build the infrastructure of what would later become BBVA API_Market.
After just over a year in the pilot phase, focused on the analysis and understanding of this new business model based on collaboration with other companies and their connection with the BBVA systems through APIs, we were working with a restricted group of developers and companies that participated in the beta version of the platform.
Since the very beginning, over 2,800 users have registered in the testing environment (sandbox) to discover the capacities of BBVA’s APIs and create digital functionalities and services based on access to the bank’s data and services.
Today BBVA API_Market is a reality, and since last May the platform is fully available for companies and institutions wanting to make simple integrations with BBVA systems.
With three lines of business: aggregate data, personal banking services, and corporate banking services, we are providing value to different sectors and developing new ideas according to the needs that we are progressively identifying.
Our philosophy is to facilitate the creation of value-added solutions through the connection with BBVA’s assets, by sharing tools with other companies to create new services and improve their experience in the processes they have with BBVA customers or third parties.
Over the coming months, we will extend our API offering with new functionalities and markets. And we’ll tell you about it.
In a hyper-connected world of exponential changes, where technology discovers new possibilities for finance, leisure, education and business every day, it is difficult to foresee our financial situation in five or ten years. It will probably be very different from the present, but what is sure is that BBVA will continue to play a leading role in it. Because there’s one thing we’re very clear about: We love APIs.
BBVA API_Market Team
If you want to participate with us in this promising adventure, stay connected in this new space. See you soon!
Carlos López-Moctezuma analyzes the present and future of open banking in a roundtable dedicated to this matter, where essential questions such as user growth curve, the role played by fintech and the profound evolution that banks such as BBVA and others have experienced in the past few years.
Product Design, User-Focused Design (UFD) and User Experience (UE) cannot be understood without APIs. Neither can the role played by major technologies in hardware and software production.