BBVA Launches Game-Changing API Connectivity for Treasury Solutions

BBVA Launches Game-Changing API Connectivity for Treasury Solutions

(IN BRIEF) BBVA has introduced new API connectivity for its treasury solutions, significantly reducing integration times for BBVA Pivot Connect by 80 percent. The initial set of APIs available on BBVA Pivot allows companies to manage supplier payments, track international payments, and access account balances and transactions across different countries. This streamlined approach replaces previous methods that were complex and time-consuming. BBVA’s treasury APIs enable businesses to connect their systems to BBVA Pivot in a matter of days, making the process more agile. Specialized support teams in Spain and Mexico are available to assist companies with API implementation. BBVA Pivot Connect is accessible to companies across multiple regions, including Europe, Mexico, South America, Central America, the U.S., and Hong Kong, demonstrating BBVA’s commitment to providing innovative treasury solutions.

(PRESS RELEASE) BILBAO, 20-Sep-2023 — /EuropaWire/ — BBVA (BME: BBVA), a Spanish multinational financial services company, is proud to announce a significant enhancement to its treasury solutions, introducing a streamlined API connectivity option that dramatically reduces integration times for BBVA Pivot Connect. This innovation marks a transformative shift, with integration times slashed by an impressive 80 percent. The initial trio of APIs, now available on BBVA Pivot, empowers companies to efficiently manage and monitor payments to suppliers, track international payments, and seamlessly access balances and transactions across accounts in any country.

Historically, BBVA’s corporate clients could link their treasury management platforms to BBVA Pivot Connect services through Swift and Host-to-Host technology, primarily designed for large-scale remittance payments. However, these methods often entailed complex implementation processes, leading to extended timeframes.

With the introduction of the new treasury APIs, businesses can now connect their treasury systems to BBVA Pivot Connect in a matter of days, presenting a remarkable 80 percent reduction in integration time for both individual and large-scale payments. This advancement promises a significantly more agile experience.

The initial suite of solutions comprises a payment API, facilitating the issuance, verification, cancellation, and tracking of payments through a single connection. Additionally, an API equipped with SWIFT GPI traceability enables real-time tracking of international payments originating from BBVA accounts in Spain, Mexico, and Peru, including currency exchanges and associated fees. Another API enables users to seamlessly access account balances and transaction details, spanning both BBVA accounts and accounts at other financial institutions.

These APIs are readily accessible on the Pivot website and will soon be integrated into BBVA’s API Market portal. In forthcoming releases, BBVA plans to expand the API catalog to encompass a comprehensive range of global treasury management operations.

“With this new channel to connect to our treasury services, we are meeting the demand of our corporate and commercial banking clients, who require greater technological flexibility for their operations,” said Clara García Benedito, Head of Business Development of Global Solutions for Enterprises at BBVA. “API technology is ideal to meet these needs, as the simple integration of its systems makes it easier to issue, cancel and monitor payments in any BBVA Pivot country with flexibility and agility.”

To ensure a seamless launch, BBVA Pivot has assembled dedicated teams in Spain and Mexico, providing personalized support to companies throughout the entire implementation, production, and post-sales phases for the new APIs.

BBVA Pivot Connect is accessible to companies operating in multiple regions, including Europe (Belgium, Spain, France, Portugal, U.K., and Turkey), Mexico, South America (Argentina, Chile, Colombia, Peru, Uruguay, and Venezuela), Central America (Costa Rica, El Salvador, Guatemala, Honduras, Nicaragua, and Panama), the U.S., and Hong Kong.

This groundbreaking development underscores BBVA’s commitment to providing cutting-edge treasury solutions, enabling companies to navigate the complexities of modern finance with ease and efficiency.

SOURCE: Banco Bilbao Vizcaya Argentaria, S.A.