PostFinance has launched a multibanking service enabling private customers to integrate accounts from other Swiss banks and financial service providers directly into e-finance or the PostFinance App.

The service allows customers to view all their accounts in a single, central overview.

The multibanking service is aimed at private customers with multiple banking relationships who wish to consolidate their financial information.

Accounts at participating third-party banks can be linked easily with a few clicks via e-finance or the PostFinance App.

Once connected, customers can see payment and savings accounts, including income, expenditure, and account balances, in one overview, eliminating the need to navigate between different banking portals or applications.

To connect an account, third-party banks must meet the technical specifications for multibanking, which requires integration with SIX Group’s bLink open banking platform.

A list of eligible banks is provided during the registration process.

Transactions from linked accounts are automatically displayed in PostFinance’s analysis overview, giving customers a complete picture of their finances.

SIX, a provider of financial infrastructure in Switzerland, ensures secure and standardised data exchange between banks and third-party providers through the bLink platform.

The multibanking solution complies with recognised interface standards from the Swiss open banking ecosystem and meets all regulatory requirements for secure payment data transactions.

Featured image credit: Edited by Fintech News Switzerland, based on image by thanyakij-12 via Freepik