APIs and how they can help you grow your company

APIs and how they can help you grow your company

APIs are much more than a technological tool: they are the most powerful tool to be able to discover new business models or to boost existing models within a company.

09 Apr. 2019

It would be difficult to understand the true value of APIs for a company only as a means of communication between applications. In other words, APIs understood as tools designed by a programmer to send data from a platform to an application without which the latter could not function.

APIs have fostered a new communication model between companies and the community of developers, where the opportunities to collaborate increased exponentially. Application programming interfaces facilitate the search for inward and outward synergies in organizations; they are an easy way of incorporating external services, products and processes into a company or to provide these outward, with the possibility of monetizing each idea. APIs have changed the way of doing business completely: more open, more democratic, where talent is an opportunity to generate business.

APIs are the core on which tomorrow's organizations should be built, especially with two major events in any strategic plan:

  • Cost savings

APIs very much simplify the creation of products and services and, therefore, a company's ability to launch an idea rapidly in the market.

Reducing time-to-market considerably represents a reduction of costs and increases the chance of success.

  • Testing means earning money earlier

Shortening time-to-market not only reduces costs, it also prevents disappointments. The earlier a product/service is tested with clients, the earlier noise and surplus will be removed and the earlier the most interesting functions for users will be found. A shorter time-to-market means improving and achieving a successful product earlier, with the capacity to generate income and business.

 

What do APIs bring to your business?

  • They provide various channels of access to business information to speed up internal application/platform development processes.
  • They offer quick and secure collaboration with partners or suppliers while the latter are guaranteed a pleasant service experience.
  • They facilitate the development of applications firmly anchored in business logic thanks largely to the clients' user experience.
  • Public APIs are used to strengthen the relationship with the community of developers and to promote the company's brand as an open company.
  • APIs for third parties, which they can use to create products at low costs, are a pathway toward new lines of business.

Are you interested in financial APIs? Discover all the APIs we can offer you at BBVA

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