New Open Banking API Resolution has Now been Built-in by Swiss Cantonal Financial institution Berner Kantonalbank

The Berner Kantonalbank (BEKB) has reportedly built-in with an Open Banking API platform as a way to join companions and numerous third-party firms.

The BEKB is ready to simply and effectively join with different service suppliers by the brand new platform. For patrons, which means they’ll have the ability to entry new and progressive options. As the primary answer, BEKB will probably be offering numerous banking providers for companies and personal purchasers of the Fintech Contovista (starting in summer season 2021).

Firm CEO Armin Brun acknowledged:

“With this platform, we’re pursuing the clear technique of selling our progressive power and higher networking with exterior companions in new ecosystems. On this approach we are able to supply our clients enticing added worth with particular person options.”

Final 12 months, BEKB had applied the Open Banking API platform with help from IT answer supplier DXC Expertise.

Via these standardized interfaces, it’s now potential for various third-party service suppliers like banks, insurers, and Fintech corporations to hook up with BEKB in a easy and environment friendly method. The financial institution’s providers permit its purchasers to make use of the BEKB buyer portal and BEKB’s digital banking answer in order that they will conduct seamless transactions. The easy and dependable entry to those digital monetary providers goals to enhance the consumer expertise (UX).

Sooner or later, company purchasers will have the ability to conveniently handle their funds utilizing completely different accounts from a single interface. The shopper will determine whether or not they need to share their monetary knowledge with third-party corporations.

BEKB will probably be working with Fintech Contovista as its first enterprise associate. The Fintech platform, which focuses on knowledge analytics, gives monetary assistants for enterprise and personal purchasers together with the Enterprise Finance Supervisor and the Private Finance Supervisor. These providers can work with a number of completely different banking platforms.

They permit customers to share their account and fee particulars from third-party banks with their enterprise and personal clients within the BEKB buyer portal. On this approach, clients throughout all banks have their monetary particulars displayed centrally and are capable of successfully handle their funds. This makes it simpler to seek out and share financial institution particulars. These monetary assistants (Enterprise and Private Finance Supervisor) will probably be built-in into the BEKB buyer portal later this 12 months.

BEKB goals to attach different service suppliers to the platform in order that it may well supply progressive options to its purchasers through its buyer portal. The Open Banking API platform will probably be additional up to date to handle these necessities.