Adesso Schweiz to Support Hypothekarbank Lenzburg’s Open Banking Ambitionsby Fintechnews Switzerland May 4, 2021
Consulting and IT service provider adesso Schweiz has entered into a strategic partnership with Hypothekarbank Lenzburg to further develop and market open banking solutions in the Swiss market.
Hypothekarbank Lenzburg had added an open interface architecture to Finstar, a core banking system it developed in-house, four years ago to create one of the first open banking platforms in Switzerland.
Since then a number of domestic and international fintech companies have linked up with Finstar to establish a unique digital financial ecosystem.
Following the integration of open programming interfaces (APIs), which was completed in 2017, the bank is committed to a hybrid strategy that complements personal banking with modern digital services.
The individual components of the Finstar system can be deployed modularly ‘as a service’ and integrated into other systems, allowing Finstar to offer tailor-made IT solutions for private and universal banks.
adesso will support the financial service provider in future in the further development and distribution of its Finstar solution, particularly in the area of digital onboarding.
Both companies are excited about the new partnership.
Marianne Wildi, CEO of Hypothekarbank Lenzburg said,
“We’re a bank and an IT company. Since 2000, Hypothekarbank Lenzburg has single-handedly developed, maintained and operated Finstar, the Swiss core banking system.
We believe that working in close partnership with adesso allows us to more effectively exploit the potential of our innovative solutions.”
Hansjörg Süess, CEO and Delegate of the Board of Directors of adesso Schweiz said,
‘We are very proud to be working with Hypothekarbank Lenzburg to promote the open banking model in the Swiss banking sector in future years.’
Featured image credit: Hypothekarbank Lenzburg