BBVA API Market
APIs can help companies boost performance, drive innovation and competitiveness, in particular, for small and medium-sized enterprises (SMEs) that aim to optimize their processes, offer enhanced services to their customers and take advantage of the opportunities of digital markets. Find out what an API is and about its benefits.
An API is made up of a set of rules, protocols and specifications that allow two or more applications to communicate with each other, sharing data and information. API stands for Application Programming Interface.
This API defines the way or rules in which data in one application can be accessed from another application. The user browsing the system will do so seamlessly between the first application, the API and the second application, viewing all three as a single environment.
The simplest example of an API is the web page that communicates with a database to show the user certain information, such as a restaurant’s API, used to book tables.
A simple way to describe an API would be that it is a bridge between two environments. When a customer wishes to buy a car, the Auto Loan API will appear throughout the purchasing process as a gateway, helping the customer follow the correct path. The two environments are the provider’s payment platform and the banking entity’s loan service. What is most important is that the customer does not perceive the change in environment during the purchasing process.
Banking APIs are effective and cost-effective solutions for SMEs and large corporations, since they can help them face their internal challenges and take advantage of their huge customization potential and large number of features. Below are the different types of APIs:
These tools are starting to become essential elements to optimize processes and resources. They can all be used to innovate and create new solutions or experiences for customers.
Some of the direct benefits of APIs for companies are as follows:
APIs can be used to access new features and resources to boost your business. For example, a dealership can offer new online services with Autoloan Calculator, which simulates the taking out of a loan to buy a vehicle.
An API can automate and reduce the associated operational costs. For example, thanks to Business Payments, a company can automate its payments to suppliers or customers from its own management system (ERP).
APIs work with a contextual approach, allowing different actions to be executed, always within the purchasing environment. Therefore, users can purchase goods, check bank information or request a loan easily and quickly, without the need to open their online banking apps.
Businesses, from self-employed to SMEs and large companies, need financing solutions that suit their needs. Leasing is a method that can optimize the use of resources and which combines business liquidity (or lack of) with the use of assets. What is leasing and how does it work? Leasing is a financing method by which a […]
There are companies that collect and store bank data: information on accounts, transactions, credit-card operations, loans, investments... These companies' APIs give entities access to new markets and new customers.
Traditional banks are making the commitment to BaaS models, open banking is driving digital financial services, regulatory bodies are increasing scrutiny when it comes to BaaS providers, the banking ecosystem is rapidly changing and increased competition and regulatory pressures are expected in the BaaS sector. The State of Banking-as-a-Service (BaaS) is a report prepared by […]
