Open banking has been slow to take off in the U.S., but now that the Consumer Financial Protection Bureau (CFPB) has announced it will release Advanced Notice of Proposed Rulemaking on this topic by December, that could be set to change.
BBVA USA today announced that it is collaborating with Google to offer consumers a digital bank account through Google Pay, continuing its focus on innovation in the financial industry. For BBVA, the collaboration was made possible thanks to its decades-long focus on digital transformation and innovation, specifically its open banking initiative, BBVA Open Platform, that enables the bank and its partners to acquire and engage customers by embedding financial products that create powerful consumer value propositions.
Uber is tapping the power of Open Banking to provide unbanked drivers with access to a digital account from BBVA within its mobile app in Mexico.
Not too long ago, if you wanted to use an API to offer your customers bank accounts, cards or payments services, you had to also use the brand of that API’s provider on your website and all your customer-facing materials. Using more than one API provider made the customer’s experience even more disjointed and confusing. Those days are gone. It seems like a good time to take a closer look at three key benefits of white label APIs.
BBVA has been named by digital banking consultants 11:FS as one of the world’s best digital providers – for the second year in a row. The accolade was given to BBVA as a result of the bank’s continued drive towards both open banking – through its Open API programs – and its ongoing push towards full digitalization.
It’s been a monumental year for us at Open Platform, but we know we’re not the only ones. Below is a recap of some of the biggest fintech, banking and payments trends and events of 2018, along with insight from our experts on what to look forward to in 2019.
It’s tempting to conclude that, when it comes to responding to profound changes in the financial services industry, the pace of change and adaptation at banks has been glacially slow. How exactly have banks adapted to changes in the financial services industry in response to the challenges of legacy technology, new regulations, more competitors and more demanding customers?
Last week, Pymnts.com featured BBVA Open Platform’s suite of white label, Banking-as-a- Service APIs in the November edition of its B2B API Tracker™, describing their launch as a notable development in the B2B API landscape.
Head of Product for BBVA Open Platform, Susan French, shares insights into today’s payment trends, the importance of human-centered design and the future of financial innovation.