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.
Open finance is expected to be regulated over the next few years, leading to a new open data ecosystem Open finance is making its way into the legal system through the consolidation of several initiatives that will lend it legal protection. Once this is complete, customers will have an open finance framework that protects their data […]
QR code payment is an alternative form of mobile payment that requires no card chip or NFC technology: just a camera and an internet connection Payments with a QR code are increasingly popular among younger consumers and tourists, as well as one of the most demanded forms of payment, especially by Chinese visitors to Spain. […]
ST APIs are an example of an API development architecture increasingly used within companies, partly due to the separation between client and server, the process scalability and reliability, and the low number of resources required by the system. What is a REST API and what architecture examples are available to companies? What can an API […]
