Following the go-live of OpenWealth, bLink is also gaining additional traction on the open banking interfaces based on the official Common API standards of the Swiss Fintech Innovations (SFTI) industry association. The four software providers are also the first participants to benefit from an optimized admission check on bLink. Thanks to this, on-premise solutions can now connect in addition to cloud solutions.
Interface reduces administrative effort for SMEs
Software solutions such as bexio have set themselves the goal of simplifying the everyday office work of SMEs. The better the access to relevant data regarding their customers, the more efficient they are. With a connection to bLink, SMEs can easily link their digital accounting with their principal bank and integrate corresponding account and transaction data automatically via a standardized interface. Approval for data exchange by the SME is given in just a few minutes via the principal bank’s e-banking and can be revoked at any time.
Because bank transactions make up a significant part of accounting, the overall effort for SME administration is thus decisively reduced. The accounting is also continually kept up to date. This also creates opportunities for new features for the software providers. Matthias Paulus, Product Owner of bexio, is pleased: “The connection to bLink allows us to standardize and further stabilize data exchange with banks. In the future, this will allow us to focus on our core competencies and the processing of this data, and provide our customers with even greater automation in payment transactions.”
Win-win-win situation: the interface also adds value for banks
The customers of the business software are always also customers of a bank. The added value of direct data integration for SMEs is therefore also passed on to the brand of the bank offering the interface. This service allows banks to reinforce the value proposition to their SME customers. Furthermore, cooperation with software providers also offers banks the potential of additional offerings, such as in the area of expense management in combination with card data. The interface thus generates added value for all participants involved in the data exchange.
The decisive advantage of bLink for both banks and software providers lies in its scalability. With a single connection, numerous innovative use cases can be implemented on the existing Account & Payments Services interface without additional effort, and new partnerships can be established with the platform’s participants. Matt Zürrer, CPO of bexio, is excited about the future: “We are already looking forward to offering our customers numerous new connections with bLink, such as in the cantonal bank segment.”
bexio is one of the market leaders of cloud-based business software for Swiss small businesses, self-employed people and startups. The online platform covers the entire administration of an SME with one solution: Starting with the creation of offers, through automated invoice and dunning processes, to integrated e-banking and online accounting with direct trustee access. bexio, based in Rapperswil on Lake Zurich, has over 40,000 customers, over 800 certified trustee partners and more than 100 employees.
SwissSalary Ltd. focuses on the development of smart and state-of-the-art apps to simplify payroll processes. The company also offers corresponding technical and legal advice and ensures that more than 500,000 payslips can be created and digitally added in a timely manner and in accordance with the latest legal requirements.
Counteo is a Swiss-developed application that enables trustees to modernize their client relationships with an all-in-one collaboration platform. The solution includes real-time financial dashboards and electronic document management (EDM) and improves trustee profitability by automating accounting and banking operations.
LIMMOBI enables private landlords and professional public administrations to perform all aspects of real estate management digitally and efficiently. The process automation, interfaces and intuitive user management make it possible to minimize the user’s need for specialized knowledge about accounting, law and IT.
About bLink from SIX
bLink from SIX is an open-finance solution developed for the Swiss finance center. Financial institutions and third-party providers connect with each other easily and securely via the central platform. As a comprehensive solution, bLink creates all the prerequisites for the efficient scaling of interface standards, partnerships and ecosystems in the Swiss market and beyond.
Please do not hesitate to contact Jürg Schneider.