Open Platform was created through BBVA's acquisition of Simple. BBVA now partners with firms looking to digitize their payments and improve customer experience.
We have always enabled digital bill pay to companies in our comprehensive electronic biller directory, but we recently expanded our Move Money service so that you and your customers can now settle bills with any US company or individual.
In the constantly evolving world of finance, success is about more than dollars and cents, and relationships are more complex than lines of code that financial consumers will never see. In early May, Susan French, head of product for BBVA Open Platform, a New Digital Businesses portfolio company, took part in a panel discussion at FinovateSpring’s Customer Experience Summit in San Francisco.
We’ve just added a new case study on our website explaining how payments company Modo uses Open Platform to help consumers redeem loyalty points linked to their credit cards when they make purchases in stores or online. Modo went live with Open Platform last year and we’re delighted we can provide this easily scalable solution, which will allow Modo to support a variety of use cases across a growing number of partnerships, all within the US regulatory framework.
Many companies that use banking and payments APIs do so to deliver superior user experiences to their individual consumers. But banking and payment APIs also deliver huge advantages to businesses and other nonconsumer customers, like associations, partnerships, sole proprietors and nonprofits. Businesses also want access to quick, easy and fee-free payment options to pay vendors or employee expenses and receive payments from customers. They want to quickly set up fee-free bank accounts and business cards online, manage them in real time and access simple, intuitive self-service tools. The same applies to nonprofits, sole proprietors and other nonconsumer entities.
In honor of Women’s History Month, we would like to introduce the amazing women who play vital roles in driving Open Platform’s mission. These women deserve a round of applause, not only for the impact they make on Open Platform’s business, but also for the way they continually support and empower each other. Meet the women of Open Platform!
As a wholly-owned subsidiary of the bank, Open Platform is thrilled to see BBVA Compass recognized as one of world’s leading banks. Open Platform is an intuitive suite of white label APIs that allow our customers to connect to banking services provided by BBVA Compass.This news means that innovators who use Open Platform can access an intuitive, developer-friendly tech stack and banking services from one of the world’s best banks, all through one platform.
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.
Welcome to chapter two of our API 101 series, where we offer useful information to help you navigate our platform and understand how you can use our APIs. In this chapter, we cover Open Platform’s Account Origination Service.