Marco Menotti, Head Business Unit Banking Services, SIX said:
With b.Link, SIX is creating the foundation for innovative products for participants and strengthening the Swiss financial center. We are guided by the needs of the market and our customers, and will continue to add new use cases.
b.Link will initially support two applications:
- 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 assess and launch additional applications for other target groups together with interested participants according to market needs.
After the testing phase, SIX is launching the b.Link platform together with KLARA, Credit Suisse, Neue Aargauer Bank and UBS. The focus will be to attract more banks and TPPs to the platform. Zürcher Kantonalbank has shared plans to start using b.Link as of September. There are currently talks with other banks and third-party providers.
Read More:
