22 April 2018
visit www.ebaday.com

Former Simple exec joins BBVA as head of Open API

24 February 2016  |  8534 views  |  0 Shamir Kalar, BBVA

Shamir Karkal, a former co-founder and CFO of Simple, has joined the neobank's parent company BBVA in a newly-created role as head of Open API.

Karkal moved on from Simple in June 2015, fifteen months after the digital startup bank had been acquired by the Spanish banking giant for $117 million.

In his new role at BBVA, Karkal has been charged with building the bank's Open API platform, serving up proprietary data to third party businesses and development shops.

Karkal likens the premise to the creation of Amazon Web Services, the e-commerce company's cloud-based unit which has grown enormously by letting third parties build businesses using its technology platform.

"BBVA has a huge opportunity to do the same - open up our core platform and services, in turn enabling others to build companies on top of these and thereby helping us build a new business," he says. "There is huge demand for these core services in areas such as customer authentication, money transfer, accounts, cards, and transaction data. $12bn was invested in financial technology start-ups in 2014 alone - a vibrant financial technology ecosystem that needs access to products such as ours."

Karakal points to the bank's Open Talent hackathon events - where developers are invited to use BBVA APIs to create entirely new applications - and the API-based collaboration between BBVA Compass and Dwolla for US money transfers, as early examples of the bank's experience in this arena.

The next challenge will be to build a scalable platform that companies across the world can access to tap in to the bank's datasets. To kick things off, the bank has created a closed 'alpha' group of partners in Spain to work collaboratively on new applications before expanding the scope and scale of the project.

"BBVA is uniquely positioned to serve this market. We have a long-standing commitment to support the new financial services ecosystem as part of our own digital transformation programme," says Karkal. "It’s also in keeping with BBVA’s philosophy around allowing bright new partners to compete with the bank’s own services, believing this gives the customer a better experience and improves the bank’s own offering."

Comments: (0)

Comment on this story (membership required)

Finextra news in your inbox

For Finextra's free daily newsletter, breaking news flashes and weekly jobs board: sign up now

Related stories

BBVA increases newly independent fintech venture fund to $250m

BBVA increases newly independent fintech venture fund to $250m

11 February 2016  |  13873 views  |  1 comments | 19 tweets | 13 linkedin
Digital transformation driving earnings at BBVA

Digital transformation driving earnings at BBVA

03 February 2016  |  19851 views  |  0 comments | 50 tweets | 46 linkedin
BBVA gets agile as scrum teams tear up the bank IT rule book

BBVA gets agile as scrum teams tear up the bank IT rule book

21 January 2016  |  16011 views  |  0 comments | 33 tweets | 39 linkedin
BBVA hires Barclays digital chief Derek White

BBVA hires Barclays digital chief Derek White

11 January 2016  |  15606 views  |  0 comments | 26 tweets | 16 linkedin
BBVA buys 29.5% stake in Atom for £45 million

BBVA buys 29.5% stake in Atom for £45 million

24 November 2015  |  14324 views  |  1 comments | 34 tweets | 42 linkedin
Banks need to develop new core competencies to survive - BBVA COO

Banks need to develop new core competencies to survive - BBVA COO

23 October 2015  |  11941 views  |  0 comments | 27 tweets | 18 linkedin
BBVA buys UX firm Spring Studio

BBVA buys UX firm Spring Studio

16 April 2015  |  16469 views  |  0 comments | 39 tweets | 18 linkedin
BBVA Compass partners Dwolla for real-time payments

BBVA Compass partners Dwolla for real-time payments

08 April 2015  |  9931 views  |  2 comments | 17 tweets | 6 linkedin
BBVA: "We are building the best digital bank of the 21st Century"

BBVA: "We are building the best digital bank of the 21st Century"

16 March 2015  |  18570 views  |  2 comments | 24 tweets | 28 linkedin
In the future, BBVA will be a software company - Francisco Gonzalez

In the future, BBVA will be a software company - Francisco Gonzalez

05 March 2015  |  42829 views  |  7 comments | 74 tweets | 64 linkedin
Half of the world's banks set to fall by the digital wayside - BBVA

Half of the world's banks set to fall by the digital wayside - BBVA

04 February 2015  |  47095 views  |  5 comments | 121 tweets | 92 linkedin
BBVA acquires big data startup Madiva

BBVA acquires big data startup Madiva

10 December 2014  |  15418 views  |  1 comments | 25 tweets | 9 linkedin
BBVA Compass opens backbone to Dwolla payments

BBVA Compass opens backbone to Dwolla payments

30 October 2014  |  7611 views  |  0 comments | 6 tweets | 5 linkedin
BBVA opens API to developers for global hackathon

BBVA opens API to developers for global hackathon

10 October 2014  |  11566 views  |  0 comments | 9 tweets | 5 linkedin
BBVA creates digital banking unit

BBVA creates digital banking unit

24 March 2014  |  13400 views  |  0 comments | 14 tweets | 12 linkedin
BBVA buys Simple for $117m

BBVA buys Simple for $117m

20 February 2014  |  12745 views  |  1 comments | 11 tweets | 17 linkedin

Related company news

 

Related blogs

Create a blog about this story (membership required)
Visit www.nextgenbanking.co.ukVisit https://aciworldwide.webex.comVisit http://response.ncr.com

Top topics

Most viewed Most shared
Top tier banks pass first transactions on trade finance blockchainTop tier banks pass first transactions on...
11229 views comments | 19 tweets | 26 linkedin
TransferWise becomes first non-bank to open settlement account with BofE RTGSTransferWise becomes first non-bank to ope...
9980 views comments | 18 tweets | 32 linkedin
Revolut launches spare change savings toolRevolut launches spare change savings tool
9871 views comments | 14 tweets | 19 linkedin
Barclays Bank sets up tech venture unitBarclays Bank sets up tech venture unit
9057 views comments | 16 tweets | 22 linkedin
Goldman Sachs acquires PFM startup Clarity MoneyGoldman Sachs acquires PFM startup Clarity...
8468 views comments | 9 tweets | 10 linkedin

Featured job

Basic c.£90K OTE c.£180K plus full benefits pac...
London based

Find your next job