Swisscom and SIX Join Forces to Simplify the Implementation of Open Finance in Switzerland

Through their cooperation, SIX and Swisscom are addressing two key challenges: the lack of standardization when it comes to integrating third-party providers into the systems of financial services providers, and the inability to connect multiple third-party providers for the same use case in a scalable manner.

Swisscom offers an integration layer to support this, which companies can use to connect their systems efficiently with Swisscom’s Open Business Hub (OBH) – and in the future, therefore, with b.Link of SIX as well. The Swisscom OBH is also supplementing its offering with the b.Link digital consent management tool, which handles the technical process via which end-customers give consent for their data to be used. SIX is responsible for testing third-party providers and connecting them to b.Link.

The medium-term goal is for Swisscom and SIX to further strengthen interoperability between their respective hubs. This will give banks and third-party providers easy and standardized access to an even broader network of potential partners from the financial industry and beyond.

Both companies are certain that open finance is making a decisive contribution to the formation of ecosystems through standardization and scaling. By joining forces, they are creating the basis for simplifying cooperation and interoperability within the Swiss financial center and thus promoting the competitiveness and innovative capacity of Swiss financial actors over the long term.