Sella and BBVA enter into an open finance strategic partnership
Thanks to Banca Sella's new "Banking As A Service" offer, the Spanish group will allow its customers to make local payments in Italy. As part of a broader international collaboration, Fabrick's Open finance platform will serve some corporate customers of BBVA
The Spanish multinational banking group BBVA and the Sella group have entered into a strategic partnership for Open finance. The above will allow BBVA to offer its foreign customers willing to operate in Italy and those of the newly launched digital bank a series of local payment services such as F24, postal bills, CBILL and pagoPA.
The agreement provides that Banca Sella makes available to the Spanish financial group its products through the APIs (Application Programming Interface) managed through the platform of Fabrick, a company operating internationally to foster Open finance.
For the Sella group, therefore, this is one of the first initiatives in the "Banking As A Service" strategic area, which aims to enable and expand, in an innovative way, the range of services offered to corporate, fintech and international financial institutions. The agreement, moreover, is also part of a broader cooperation context that sees the Fabrick platform contributing to the International Open finance projects of BBVA.
The project, sharing the know-how of the three players to meet the new needs of the global market, has allowed BBVA to optimize technological investments, implementation times, organizational impacts and accelerate time-to-market.