Open banking beyond PSD2
BBVA wants to be an easy-to-use, transparent and convenient bank that offers solutions to people’s everyday needs. Because the extraordinary comes from the small things.
BBVA’s arrival in Italy, with the support of Fabrick, is the first step in the expansion of its retail services that this major Spanish bank has decided to undertake.
Its expansion strategy is characterised by the construction of ad hoc models in partnership with local partners in order to complete the offer of payment services and banking solutions linked to the country in which it arrives.
The result of this approach is full compliance and ready-to-go solutions, achieved with minimal development time: less than a year from design to go-to-market.
Fabrick has played a decisive role in enabling BBVA’s strategy in Italy, distinguishing itself on the national scene as the only API-ready service shelf for embedded finance solutions.
Why did BBVA choose Fabrick as a partner?
In the Italian scenario in which BBVA has chosen to expand, Fabrick together with Banca Sella were and are the only ones ready to offer this bank what it needed to implement its expansion strategy, both in terms of platform, contracts and APIs for banking services and able to guarantee a rapid go to market and a highly modular proposal.
BBVA’s adventure with Fabrick and Banca Sella has only just begun, but it started off with a go-to-market time of 10 months, from zero to the app available on the Italian market.
Fabrick’s solutions involved
Banking as a service
Fabrick allows non-financial players to offer banking services to their customers in an as-a-service format.
Solutions dedicated to payment systems characteristic of a particular geographical area. In Italy, a well-known example is F24.