We took part in the 2nd Annual Open Banking and APIs Forum in Amsterdam, in order to share our experience in open banking and to see what other players are doing in relation to this major opportunity -and challenge-.
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.
Commercial banking has always been available to the customer in both parts: loans and credits as well as in deposit services. However, the customer experience took a step forward with online banking and now offers a much greater leap with open banking, where the customer is the sole focus of attention.
Hay quien lo llama ‘revolución’, otros prefieren definirlo como ‘evolución’. Sea como fuere, la fuerte transformación que vive el sector bancario impulsada por la entrada en vigor en noviembre de 2018 de la directiva europea sobre servicios de pago digitales PSD2, lleva aparejada un cambio en los perfiles profesionales que demanda la industria.
Around 50 professionals from the world of technology, banking and innovation met on Thursday, January 31 at BBVA Open Space Madrid to attend Open Innovation Trends 2019.
Open banking systems make it possible to interconnect the finances of citizens and companies, and to create a myriad of new applications based on common and easily interoperable standards.
Some weeks ago we took part in the World Open Banking Dialogue in London. There we heard first-hand how banks around the world are helping to consolidate the open banking concept, while we also had the opportunity to set out BBVA's vision of the phenomenon.
They say 2018 was the year of open banking. While 2019 will be the year in which it puts down roots. With nearly twelve months having passed since European Directive PSD2 was introduced back in March, in 2019 we will see whether the open banking concept represents evolution or revolution. The opportunity is immense, collaboration is critical, and trust is key, but customers must be given incentives to embrace the new concept.
Machine learning is a concept currently in vogue. However, not all of us would be able to explain what it consists of.
Every day more companies and developers are joining the trend for working with open solutions. The reason is simple and the advantages of open source are clear: it reduces the expenses associated to licenses, eliminates dependence on software sellers, and offers advantages for learning thanks to collaboration, increased security and improved quality.
