The Berner Kantonalbank (BEKB) has reportedly integrated with an Open Banking API platform in order to connect partners and various third-party companies.
The BEKB is able to easily and efficiently connect with other service providers through the new platform. For customers, this means that they’ll be able to access new and innovative solutions. As the first solution, BEKB will be providing various banking services for businesses and private clients of the Fintech Contovista (beginning in summer 2021).
Company CEO Armin Brun stated:
“With this platform, we are pursuing the clear strategy of promoting our innovative strength and better networking with external partners in new ecosystems. In this way we can offer our customers attractive added value with individual solutions.”
Last year, BEKB had implemented the Open Banking API platform with assistance from IT solution provider DXC Technology.
Through these standardized interfaces, it’s now possible for different third-party service providers like banks, insurers, and Fintech firms to connect to BEKB in a simple and efficient manner. The bank’s services allow its clients to use the BEKB customer portal and BEKB’s digital banking solution so that they can conduct seamless transactions. The simple and reliable access to these digital financial services aims to improve the user experience (UX).
In the future, corporate clients will be able to conveniently manage their finances using different accounts from a single interface. The customer will decide whether they want to share their financial data with third-party firms.
BEKB will be working with Fintech Contovista as its first business partner. The Fintech platform, which focuses on data analytics, provides financial assistants for business and private clients including the Business Finance Manager and the Personal Finance Manager. These services can work with several different banking platforms.
They allow users to share their account and payment details from third-party banks with their business and private customers in the BEKB customer portal. In this way, customers across all banks have their financial details displayed centrally and are able to effectively manage their finances. This makes it easier to find and share bank details. These financial assistants (Business and Personal Finance Manager) will be integrated into the BEKB customer portal later this year.
BEKB aims to connect other service providers to the platform so that it can offer innovative solutions to its clients via its customer portal. The Open Banking API platform will be further updated to address these requirements.