Companies that are partnering with Visa on this program represent a different service offering for the ecosystem, including BBVA Open Platform.
“BBVA Open Platform is proud to be an enabler of fintech companies across the U.S., using our intuitive API platform to empower leading innovative companies to offer banking and payments services under their own brand,” said Abhishek Gupta, Head of BBVA Open Platform. “We’re thrilled to work with Visa to expand our mission of helping companies drive exponential growth and create more opportunities for consumers on top of better banking and payments services.”
As an industry, we’ve invented an impressive repertoire of words to talk about what banks are doing with APIs. We decided it’s time to clarify what we really mean when we say Banking-as-a-Service and how this relates to open banking.
BBVA announced on Tuesday it is now offering a full suite of Banking as a Service (BaaS) products in the U.S. through its BBVA Open Platform program. BBVA reported that its Open Platform initiative enables third parties to easily integrate payments and complementary banking services into their own business models to create seamless user experiences.