Have you ever thought about, through a WhatsApp conversation, making a bank transaction with different banks? For customers who have accounts at Banco do Brasil (BB), this will be possible. Customers of this bank can now transfer money via pix to other financial institutions through the largest messaging app, WhatsApp. To learn more about this new pix by Banco do Brasil and Whatsapp, check out the text in full!
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Integrated innovation: BB and Whatsapp
In a world premiere in August, Banco do Brasil allowed its customers to start the entire process of consent for data sharing in the context of Open Finance via a messaging app, the Whatsapp.
In addition, it was the first large bank in the entire Brazilian territory to act as a transaction initiator payment gateway and allow customers to transfer funds from other banks using the pix without leaving the application.
But what is Open Finance and how does it work?
Open Finance, as its name implies, is an open financial system, it is a concept developed to regulate the sharing of customer information between financial institutions. This is done securely through the use of APIs (Application Programming Interfaces) in the internal networks of the respective institutions.
The pioneering novelty of BB
BB's innovation is only possible due to the payment initiator, a tool from the third phase of Open Finance that allows the carrying out transactions without the need for the user to log in to the bank application from which the funds will be disbursed.
This goes for shopping at online stores or even sending money from one bank to another, for example. But for now, the Central Bank only allows pix modality transactions.
How does this feature work?
The customer can dial “transfer money from another bank” on WhatsApp from Banco do Brasil, number 61 4004-0001. With this, the financial institution's virtual assistant will send the user a list of other banks to choose from.
You will then have to enter and confirm the desired transfer amount. The other bank's application will be opened through Open Finance, which guarantees data security between different banks, and the user will be able to confirm the transaction.
