Payments, data and fintech: bank APIs for generating business

September 26, 2017

BBVAWhile fintech still remains the undisputed emerging star of the entrepreneurial scene to the extent that the capital of this singular sector, which combines banking and technology, (now surpasses €11,000 million), endless possibilities are opening up to application developers, who can now resort to a sizeable handful of APIs to offer more services from their platforms.

In this way, bank APIs have proven the perfect tool for generating business in all types of companies. Stripe is one of the clearest examples of this. Although the most popular and widely used payment platform in the world  (with more than 180 million users) is PayPal, the service provided by this British startup via its API has already been used by technological giants such as Kickstarter, Twitter, Pinterest and even Apple: Cupertino employed the services provided by this company for the system of its brand-new Apple Pay.

Founded by the Collison brothers, Stripe offers an online and mobile transaction service that not only guarantees security, as it does not store any purchaser data in the server of the sellers, but also offers facilities for developers with a simple implementation.

Still, fintech does not live by payments alone. Data are now another of the many paths with which a bank API can open up a door when it comes to generating business. This is precisely what is being done by Xignite, which provides cloud space for the storage of financial data.


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