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Open Banking: SIX sets new standards for the Swiss financial sector

SIX has developed the open banking solution b.Link for the Swiss financial sector. As an innovative solution, open banking will revolutionize the financial sector over the next few years: Financial service providers are transforming from self-contained banking offerings to platform providers that offer their customers exceptional user experience. mimacom has provided a decisive basis for modern processes with the latest technologies thanks to intelligent connections.

b.Link supports innovation in the Swiss financial industry

b.Link is an open banking platform for the standardized and secure exchange of payment transaction data and account information between financial service providers and software as well as service providers, so-called third-party providers (TPP). Standardized interfaces (API) within this open banking platform connect the participants with each other and thereby enable simple and efficient communication. As a result of the increased cooperation, financial institutions and TPPs can jointly offer their customers innovative solutions for account information and payment deposits that offer an improved and simplified user experience and efficient workflows. Customers always have control over their data and can decide at any time with whom and for what purposes they want to share their data.

Major Swiss banks and TPP already on board

With the two big banks UBS and Credit Suisse (including the Neue Aargauer Bank NAB) and the Zürcher Kantonalbank, the major players in the Swiss banking scene have already joined the platform. On the TPP side, b.Link is starting with KLARA. Further expansion steps, such as a simplified connection of TPPs and the broad integration of corporate customers, are being continuously pursued.

Secure Open Banking thanks to innovative solutions

Together with mimacom, SIX has created one of Switzerland's first platforms for open banking with the b.Link platform. In this way, mimacom is helping to lay an important cornerstone for secure digital banking solutions via third-party platforms. SIX runs b.Link as an open platform and will continuously increase the number of financial institutions and third-party providers as well as new implementations thanks to the participants' collaboration possibilities.

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