Banco de Bogotá aims for COP 1 trillion in API transactions

Banco de Bogotá expects to reach COP 1 trillion in new transaction volume through its application programming interfaces (APIs) by the end of 2026. The target is part of its open finance strategy designed to embed financial services directly into third-party corporate and retail digital platforms.

Between January and August 2026, the Colombian bank accumulated COP 604,480 million in new API transactions. Monthly volume expanded from COP 33,968 million in January to a record COP 106,960 million in August, up from COP 220,000 million processed across the entire period from March to December 2025.

Juan Carlos Echeverry, president of Banco de Bogotá, stated that the institution seeks to integrate with partner systems so users can access products without visiting the bank's portal. Under this model, allied companies handle the user interface while the bank validates data, approves requests, and moves funds.

The API portfolio offers payroll and supplier disbursements, automated collections, real-time balance checks, and invoice factoring for businesses. For individuals, tools cover payroll account openings, vehicle financing inside dealership platforms, mortgages, and cross-border remittance tracking. Ana María Zuluaga, director of open finance at Banco de Bogotá, noted that the model relies on user consent to share data, backed by parent company Grupo Aval.