BBVA is making eight of its APIs commercially available for the first time. The launch of BBVA API Market will enable companies, startups and developers to build new products and services by accessing and integrating customers’ banking data – with their permission – into their applications.

“By opening commercially our data and services, BBVA is turning Open Banking – a model that is going to speed up the transformation of the financial industry – into a reality. Not only are we adapting to EU standard PSD2, which aims to boost competition in the industry, but are actually aiming to become the best platform on which to build new digital experiences. This is a customer-led business opportunity,” says Derek White, Global Head of Customer Solutions at BBVA.

This will initially only be available to the FI’s Spanish customers, but BBVA intends to roll the initiative out to its USA customers later this year, before expanding it to Turkey, Mexico, Latin America and beyond. The launch comes after it spent 2016 testing the waters. Over 1,500 businesses and developers registered with the portal to get a feel of the possibilities the APIs can bring to their businesses. The bank is already working with IBEX 35 companies in Spain, and also with geomarketing startups such as Geoblink, Carto or Bismart who are using the statistical data provided in Paystats, and with management software vendors, such as Anfix, Simplygest and SAGE.

Further details here.

by Scott Thompson
Scott is Senior Editor at IBS Intelligence. You can follow him on Twitter and contact him at: Scott.Thompson@ibsintelligence.com
imp-loader
preloader