Hypothekarbank Lenzburg AG is one of the first of 40 Swiss banks to sign a “Memorandum of Understanding” to introduce multi-banking for its clients.

The bank again relies on the open finance platform from ndgit, thanks to which it has already received various awards, such as the Fintech Innovation Award from the Swiss Competence Center Ecosystem and the EURO FINANCE TECH Awards 2017.

Since 2018, Kreditarbank Lenzburg has relied on the technology of the Munich specialist on Open Banking to implement their API strategy, which a large number of large banks have also used to implement their PSD2 solutions.

The decision to use ndgit's solution for multi-bank APIs is based on flexible open API security features such as consent management. In addition, the ndgit solution already has ready-made interfaces for various use cases of the SIX bLink platform. The Swiss Multibank Initiative is a market counterpart to the EU's PSD2 regulation and initially focuses on use cases for account information sharing and multibank services.

In cooperation with ndgit, Kreditarbank Lenzburg will be one of the first Swiss banks to implement a “Memorandum of Understanding”. At the same time, thanks to ndgit, the bank has the appropriate technology to continue providing open APIs for accounts, payments or banking in the future.

“From our many years of experience with ndgit, we know that with their standard products we can deploy even complex API solutions efficiently and quickly,” says Marianne Wildi, Chairman of the Board of the Hypothekarbank Lenzburg AG. “With HBL, we are proud to be able to support the open banking pioneer in Switzerland in the areas of multi-banking and bLink connectivity,” adds Oliver Dlugosz, founder and CEO of ndgit. “Our customers receive a solution for all demanding Open API projects in Switzerland from a single source.”