b.Link

With the b.Link platform, SIX creates the basis for innovative partnerships between financial institutions and third party providers. Using b.Link’s standardized interfaces (Application Programming Interfaces, APIs), they can securely connect and exchange data to offer new services to their customers. For example, the processing of account information and payment orders directly in the accounting software.

With open banking, financial institutions provide third party providers (e.g. providers of accounting solutions) with uniform interfaces for the exchange of financial data, especially customer data. The aim is to provide customers with a wide range of innovative solutions.

In Switzerland, b.Link supports financial institutions and third party providers in setting up and expanding such offerings by providing uniform interfaces, a uniform set of contracts and a standardized admission test.

Two services (applications) are currently available:

1. Account information service for accounting solutions and financial institutions
   Third party providers can obtain detailed account and transaction information for their customers from their banks and use it, for example, for reconciliation with their customers’ accounting.
2. Payment submission service for accounting solutions and financial institutions 
   Third party providers can automatically submit payments from their customers to their banks. After that, only the customer’s approval of the payment is necessary.

An application consists of two components: on the one hand, the API, i.e. the transferred data (e.g. account information), on the other hand, the earmarking (e.g. for accounting solution).

The data exchanged via b.Link is defined in the API specification in business and technical terms. This data may only be used for specific purposes. This means only for the purpose for which the end customer has given their consent.

Two applications are currently available via the b.Link platform “Account information for accounting solutions and financial institutions” and “Payment submission for accounting solutions and financial institutions”.

API stands for Application Programming Interface and is a technical interface that enables data to be exchanged between two parties.

Open banking uses APIs for a simple and secure exchange of financial data, in particular customer data, between financial institutions and third party providers (e.g. of accounting solutions).

The data exchanged via the b.Link platform (e.g. account information) between service providers and service users may only be used for specific purposes. This results in the application (e.g. “Account information for accounting solutions and financial institutions”).

A service user utilizes the customer data (account information or payment submissions) of a service provider on behalf of their customer.
Both TPPs and financial institutions can participate as service users.

A service provider provides the service user with customer data (e.g. account information or payment submissions) via b.Link.

In order to exchange customer data between a service provider (e.g. financial institution) and a service user (e.g. accounting tool), the consent of the respective customer is indispensable. This means that the customer always has full control over their data and full transparency about who receives their data and what it is used for. They can revoke their consent at any time.

If you are an interested bank or a TPP, contact the product management directly.

As soon as a service provider (e.g. a financial institution) offers b.Link to its customers, end customers can activate the connection in the online banking system of the respective bank. 

Registration is purely digital and takes place in three steps. The end customer logs into their e-banking system. There they determine the third party provider of their choice, to whom they wish to grant access to their accounts and/or allow payment orders to be debited from their accounts. The end customer finally logs in to their third party provider and receives an overview of their accounts linked via b.Link.

The legal framework is regulated by SIX in a uniform contract with each financial institution and each third party provider. This makes costly bilateral negotiations between individual participants unnecessary.

SIX conducts an admission test with all interested participants before they are connected to the platform. In this way, SIX guarantees the security of its partners in handling sensitive financial data. 

The admission test consists of three parts: general test, IT security test, earmarking test.

1. General test
   The general test examines general criteria such as entry in the commercial register, sanctions lists, unethical corporate purpose, sustainable business plan, etc.
2. IT security
   The service user must prove that access to the APIs, to the tokens issued by the service provider and to the transferred data is protected.
   The service provider must prove that access to the APIs and data is protected.
3. Earmarking
   The service offered by the third party provider must correspond to the purpose for which the common customer has given their consent. For example, if the customer has given their consent for their account information to be used in accounting solutions, the admission test will ensure that the third party provider uses the data for this very purpose.

The admission test is carried out once before participation in b.Link.
The recurring annual test ensures compliance with the admission criteria during operation.

If you are an interested bank or a TPP, contact the product management directly.

The b.Link platform allows participants to offer services as service providers and/or purchase services as service users. A service provider may charge the service user for their services.

SIX operates the platform and takes care for invoicing. The fees are settled in a pay-per-use model whenever possible.

In an initial phase, SIX offers participants who register for the platform as service users a discounted admission test. The promotion is valid for a limited time.

Contact the product management directly for further information.

• At present:
  Connection to b.Link currently requires third-party providers (TPPs) to implement consent and token management themselves. The latter includes the provision of a secure token store that is tested in the admission test. The TPP incurs costs for the admission test and for the security audit by external auditors. At present, b.Link primarily supports cloud-based applications. In future, on-premises solutions are also to be possible. Access to the test environment is authorized on request and requires a certificate issued by a certification authority recognized by SIX.
• In the future (as of Q4 2020):
  SIX endeavors to keep costs as low as possible for TPPs and is currently developing a new connection solution in line with the Consent-as-a-service principle. Here, the financial expenses consist only of the costs for the initial admission test. There are no costs for the security audit by external auditors. This reduces the initial costs for the TPP by more than 80 percent. After admission, the TPP is reviewed again once a year. The secure token store is provided by SIX. Access to the test environment is also made considerably easier: SIX now offers a developer portal with a sandbox and API documentation that interested parties can use free of charge after self-registration.

For Q4 2020, SIX is looking for innovative pioneers who want to test this connection solution in technical terms and help shape it.

Do you want to take part? Then send an e-mail directly to the Product Management and we will be happy to contact you.

SIX operates the b.Link platform and offers it to financial institutions and third party providers. In this context, SIX charges service providers and service users fees for operating the platform. The service provider is free to charge the service user a service fee for offering the interfaces. Whether and in what form the service user passes on the costs incurred for the use of the interfaces to the end customer is a decision of the service user.