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Who are you going to buy your APIs from? Your bank? Your fintech? Your TMS provider?

BBVA is one of the first banks to start to commercialise their investment in Open Banking APIs for PSD2. It is making eight of their own APIs commercially available for the first time ahead of the start of PSD2 in their launch of the  BBVA API Market, see and below:


Source& Copyright©2017 - BBVA  

Payments&Cards Mobile report, “With the eight APIs now available, BBVA says companies, start-ups and developers will be able to build new products and services by accessing and integrating customers’ banking data – with their permission – into their applications.”

BBVA are already developing other APIs for consumers and corporates in the PSD2 area.

Other API development

API development is happening world-wide:

  • Citi already using their own APIs in electronic banking solutions, as are many other banks
  • Specialist developers such as MuleSoft offer Anypoint Design Center which provides development tools that make it easy to design and test APIs, implement data and application integration flows, and build connectors
  • TMS solution providers are starting to offer APIs which corporates (and others) can download, e.g TreasuryXpress now offer API, Payment+ which converts ERP payment files into bank-ready ISO20022 Customer Initiation message payments
  • etc.  

Future of API market

These developments raise many questions about the future of the API market including:

  • Are there going to be general APP stores selling Apps from many banks and fintechs or individual stores like the TreasuryXpress Store and BBVA’s? Or both?
  • Who monitors and controls the quality of the APIs?
  • Will there be independent analysts to test the APIs?

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