Provide great financial experience to your API consumers

+20%

MoM increase of users because they have more options

+12%

Quarter increase of revenue

The challenge

The COVID-19 was an accelerator about the change of how individuals interact with Banks. Open banking initiatives offer more freedom of choice. For end-users, there is freedom to choose how to utilize their data, get the best financial pieces of advice. Thanks to their AI tool, Banks are consuming our Client's API, which enriches individual data with very powerful advice. The API takes end-users' transactions, accounts, and returns advice.
The API provider is now aiming at providing the best user experience to its clients - Banks - through the use of their APIs.
So far, the API Provider did not have a monetization directly tied up to the consumption of its API. The monetization of the API was done in an asynchronous way, prone to errors and abuse for clients. They were looking for a solution so that they could have monetization done right and automatically - either in a self service manner or then provisioned by their team.The chosen business model was to tie up subscription to API products based on the number of final end users each of their own clients have.
They did not want to provide the same access to recommendation for all users but wanted to define different granular levels of recommendation based on banks' profiles and their own end-users. Another challenge was to provide an easy way for their clients (Bank's developers) to integrate their API. The API satisfaction was quite low because many endpoints were exposed and needed to be deeply understood by Banks' developers to be properly used. It was discouraging them to use the service of the API provider and when it was used, it was a painful experience.

The solution

On top of providing the management of subscriptions to the API, Blobr helps provide to their clients (Banks' developers) the best possible experience. For each of them, their API is carefully customized according to their requirements and needs through products creation.
"With Blobr, we built a developer portal displaying API products with API keys and spot on documentation. That way, developers quickly get access to Products related to their use cases and use our service. They are delighted with the service and we are sure we invoice the right way our API"

Key criteria to use Blobr

Simplicity
Our client was able to create, manage and monetize new business API products in minutes. The technical integration is lightweight. No back-end development is ever required. Their end users only have 1 HTTP API request to make, the data is pushed over. That's it.
Security
All data is securely stored and shared applying best-in-class practices. Unique API keys are created for each Bank, so data access is carefully monitored.
Flexibility through Tier Pricing
For each of the Banks and Credit Unions, the pricing is managed by Blobr, according to the number of end-users the banks reach using the recommendation API. For example, Bank A would pay the API provider 100 euros per month since they have between 1 and 50 active end-users. Bank B would pay the API provider 200 euros per month since they have between 51 and 500 active end-users. Thanks to our deep integration to Stripe, the API provider does not deal with Pricing and Billing anymore.
Developer-friendly experience:
For each Bank, developers get the best experience. They access through their dedicated Bank developer portal the available API products. A Bank developer or business person has the flexibility to pick and choose the product they want to subscribe to, but there is more!
They see the API products they subscribed to, consume a spot-on documentation adapted to their use case, get access to consumption and/ or invoices.  No time lost understanding the API and looking at how to use the API properly. No info can be missed and the developer experience is greatly enhanced.

The results

Enhance developers' experience
They increased developers satisfaction & adoption rates by 25% as they get a stellar onboarding experience. It became a part of their own added value in the perspective of their customers having such an easy way to integrate the API.
Reduce time spent on low value tasks
They decrease the time spent on managing tier pricing and monitoring their clients' consumption and rather spend this time on higher-value tasks. It was a manual half time job managed by Operations
Capture better the value of their API
They increased their revenue by 15% because of the creation of several API products tailored to the needs of different banks. They were able to adapt API products and market to fulfil the exact needs.