First accounting and multibanking applications for corporate customers
SIX will initially provide two applications via b.Link.
- The “Account Information Service for Accounting Solutions and Financial Institutions” allows third-party providers to obtain detailed account and transaction information from banks for their customers and use it, for example, for reconciliation with accounting. This is always subject to the consent of their customers.
- Third-party providers can use the “Payment Submission Service for Accounting Solutions and Financial Institutions” to automatically order their customers’ payments at their banks. Then the customer only has to approve the payment in their e-banking application.
SIX will evaluate and implement additional applications for other target groups together with interested participants according to market needs.
Leading financial institutions and innovative third-party providers support b.Link
After a pilot phase, SIX is now launching the b.Link solution on the market together with KLARA as well as Credit Suisse, Neue Aargauer Bank and UBS. The focus will then be on bringing more banks and TPPs onto the platform. Zürcher Kantonalbank plans to begin using b.Link as of September. Intensive talks are currently being conducted with other banks and third-party providers. Interested parties are invited to contact SIX directly for further information.
“Open and secure interfaces are very important for the entire ecosystem – especially in corporate banking with its networked processes. By joining b.Link, we are expanding the range of accounting solutions we offer that our clients can easily link to their bank accounts.”
Markus R. Meyer, Head Products Corporate & Institutional Clients, UBS Switzerland AG
“As a bank for business enterprises and entrepreneurs, we want to offer our customers innovative solutions to improve their operational processes. That’s why Credit Suisse is at the forefront of this open banking initiative. As one of the pilot banks, we have already enabled our first customers to successfully use b.Link. I am very pleased that b.Link is now available to all our corporate clients via Credit Suisse Direct.”
Alain Schmid, Head Payment Services at Credit Suisse (Switzerland) Ltd.:
“With b.Link, we can support our customers even better on the digitization path and surprise them with innovative solutions – uncomplicated, fast data exchange on a secure channel.”
Jürg Bühlmann, Head of Corporate Banking, Zürcher Kantonalbank
“The KLARA Ecosystem is being expanded by b.Link. For KLARA customers, this means that in the future, account reconciliation will be automated and their payments will be transmitted to the bank quickly and easily. This will save Swiss SMEs a lot of effort and leave them more time for their core business.”
Renato Stalder, CEO, KLARA Business Ltd
For more information about b.Link click here
Listen to Sven Siat, Head of Connectivity at SIX, talking to Voice of FinTech about Open Banking in Switzerland here