The Financial Markets Series: Open Banking in Switzerland

<p><a href="https://www.linkedin.com/in/svensiat/">Sven Siat</a>, Head Connectivity at <a href="https://www.six-group.com/en/home.html">SIX, the Swiss Exchange Group</a>, talks about Open Banking in Switzerland and solutions his team developed to facilitate the cooperation between FinTechs and banks.</p><p>In this episode, you will find more about:</p><ul> <li>The state of Open Banking in Switzerland and comparison to the EU</li> <li>PSD2 in the EU - is it fostering cooperation between banks and FinTechs in a balanced way, or not?</li> <li>Can we have one standard worldwide for connecting FinTechs and banks, or will we end up with the electrical sockets situation?</li> <li>How does one develop an enterprise-grade platform in Switzerland with multiple stakeholders? Example: pilot data exchange program involving <a href="https://www.ubs.com/">UBS</a>, <a href="https://www.credit-suisse.com/">Credit Suisse</a>, <a href="https://www.klara.ch/">Klara </a>and <a href="https://www.abacus.ch/">Abacus</a> </li> <li>b.Link, a platform for standardized interfaces open to the banks, FinTechs and software providers, developed by SIX, enabling them to provide account information or payment services: key clients and onboarding on b.Link</li> <li>What's in store regarding the connectivity of the financial institutions in Switzerland for later this year </li> </ul><p>Find out more about b.Link, the platform connecting banks and FinTechs in Switzerland, <a href="https://www.six-group.com/en/products-services/banking-services/blink.html">here</a>.</p>In Switzerland, we are in the early days of open banking and we have several players and initiatives, many focus on technical aspects only. Our approach is a bit different, we not only focus on the technical aspects (we do have the technical expertise to run reliable and scalable financial infrastructure), but I think we also understand the challenges that banks have with regard to legal and compliance matters.<p>Sven Siat</p><p>This episode of the Financial Markets Series was