bbva open banking experience · 2019-05-17 · open banking world congress 2019 / 22...

BBVA Open Banking ExperienceReview & learnings

May 2019

bbvaapimarket.combbvaopenplatform.com

Open Banking World Congress 2019 / 2

Why an Open Banking Strategy

Index

01

02

03

Opening the way to collaboration and innovation

Examples in data, retail and business APIs

04 Main lessons learned


We could start...

Talking about our first datathons “Innovachallenge” (in 2013 & 2014)...

… or talking about Simple’s acquisition and the subsequent migration from Bancorp core-banking to BBVA Compass’ APIs


Or we could start...

Speaking about how we launched our Minimum Viable Product (MVP) in 2015

With a Sandbox with real APIs and mock data… or with access to real data (full live mode)...

… and 5 APIs: 4 based in retail banking services + PayStats, an aggregated and anonymized data API...


Or even...

… describing our Friends & Family experience...We design a Friends and Family pilot in order to test & learn

PARTICIPANTS >200 companies in Spain

CO

ND

ITIO

NS

OBJECTIVE

Test and Learn


Why open banking?


Nowadays, there is a

disconnection between people’s

financial needs, their service

providers, their financial

institutions and the innovation

and value creation centers.

Customer journeys & creating opportunities

Convenience

World API Banking Summit 2018 / 7


Even when a lot of companies

put focus on innovation, in

many cases it is done from

their own vision, resources

and experience, that are -by

definition- limited.

Open innovation vs. limited perspective


In terms of convenience and transparency

In giving them solutions when they need them

In making these solutions creative and innovative

The outcome is that the value offered is much less than what it could be really offer to them


How?


The solution: Collaboration

Companies

Banks

Fintechs

Knowledge

Solutions

Data

Innovation

Assets


But… How?


APIs (and other technological “enablers”)

“We are stuck with technology when what we really want is just stuff that works.”

Douglas AdamsAuthor of hitchhiker's guide to the galaxy


With the aim of creating better digital experiences for our clients


As well as helping on the digital transformation of the companies involved (including us)


Creating digital platforms and ecosystems, were end-to-end customer journeys are solved

Solutions for Bank to Business relationships

Solutions for Business’ clients & employees

These partnerships allow us to

bring the age of opportunity to

everyone, not only to our

clients, but also to our partners’

clients, co-creating solutions

and giving options where they

are needed, and when they are

needed, in a smooth & seamless

way.

Solutions for Business’ suppliers


Some examples


BBVA Connect

Third party Web/App

BBVA customer enters their online banking user ID & password...

BBVA customer grants a series of permissions to the third party, in relation to their data and services at BBVA, always in a BBVA secure environment


Use cases: onboarding

To be able to go from endless forms, with unverified information...

To a fast onboarding, with verified information, in just few seconds...

This includes pulling ID (DNI’s) image and details

Maximizing conversion rate


Use cases: financing

Provide PoS financing within the

same digital experience of your

company


Third party APIs

Simple integration: through REST APIs, a system that allows a quick and easy integration with any type of sales system

Make payments and refunds integrated in its operation, that makes it easier for Spanish merchants to sell to Chinese visitors

Clear, concise & detailed specs to facilitate integration, as well as support for integration

Retail

Alipay

Alipay connects your business with the

online payments leader in China


bbvaopenplatform.com: our BaaSThis platform enables third parties

to easily integrate payments and

complementary banking services

into their own business models to create seamless user experiences.

BBVA’s Banking as a Service solution uniquely allows companies

to connect into a core digital

banking platform, through which

they can access APIs including:


Our APIs

At this moment globally we have 18 APIs published in Mexico, US, and Spain… for now


Main findings


Key lessons learned

Open banking is not just about APIs k

It requires a change of philosophy that is only possible with strong support of top management

Existing demand, with limited offer and prices have yet to be set in this market

01 Multiple possibilities, yet to be discovered

The scope of open banking goes far beyond PSD2 open banking goes

End-customers will take time to assimilate this concept and to allow access to their data & finances

02

03

04

05

06


The banking sector must opt for collaboration models with other companies and sectors, that allow to create new offers of value and digital experiences for people while simultaneously helping companies to transform themselves digitally

Any Question?Contact:Carlos Lopez Moctezuma

[email protected]

carlos-lopez-moctezuma-45a45626

[email protected]

http://www.bbvaapimarket.com

https://bbvaopenplatform.com/

bbva open banking experience · 2019-05-17 · open banking world congress 2019 / 22...

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