Hypothekarbank Lenzburg AG becomes the first “Banking as a Service” (BaaS) partner in Switzerland and implements the NDGIT Open Banking platform
HBL is implementing its “Banking as a Service” offer with the NDGIT Open Banking platform. They are integrated as flexible middleware on Finstar, the same bank platform developed by HBL, and opens its data and services concerning accounts, deposits or other bank processes. FinTechs and digital partners can easily and securely link to these as APIs. The NDGIT standard solution also offers compatibility with European PSD2, which is currently being adjusted to the regulatory and Europe-wide standards being developed in the market.
The new interbank Open Banking platform can be used in addition to HBL and the eight other Finstar partners in order to create further plans. The emerging ecosystem is used by diverse FinTechs like the account based PFM application for end customers from Qontis. Numerous neobanks and new digital providers have also already expressed an interest in the “Banking as a Service” HBL products.
“Banking as a Service” is the future of banking for us. New digital companies can use accounts and deposits at HBL in this way and our customers can profit from the growing digital ecosystem of innovative FinTech functions and easily integrated bank products. We have selected the API banking specialists at NDGIT based on their technology and experience, whose Open Banking platform offers us flexible, neutral and uncomplicated integration. We are also using the NDGIT platform with the Swiss FinTech Innovations (SFTI) professional association to develop a cross-industry Swiss API standard,” said Marianne Wildi, CEO of the mortgage lending bank Hypothekarbank Lenzburg AG.
The NDGIT API platform for Open Banking offers banks a flexible middleware and access layer for their core banking systems. In addition to standardised PS2 APIs for account access, it facilitates the preparation of bank data and processes tailored to the individual bank for digital partners. “Banks and digital providers can create new networks using the NDGIT API platform. The emerging ecosystem of HBL is a visionary example of this, whereby new business models are provided by means of the regulatory and technological changes in the banking market,” said Oliver Dlugosch, CEO of NDGIT.
About NDGIT GmbH
NDGIT GmbH stands for Next Digital Banking and supplies the first API platform for banking and insurance. It connects banks and FinTechs with digital ecosystems. Its technology enables banks to open themselves up to digital partners with Open Banking APIs and PSD2 solutions. In addition, special functions from FinTechs can be easily used via the Next Banking API marketplace, adapted and integrated into applications. The platform makes it easier to use internal and external APIs, to monitor them centrally and manage them. The NDGIT FinTech platform is therefore the technological backbone for new applications and IT landscapes in banking and insurance.
About die Hypothekarbank Lenzburg AG
Hypothekarbank Lenzburg AG, registered in Lenzburg is a Swiss bank established in the Aargau canton. It is listed on the Swiss stock exchange SIX Swiss Exchange (HBLN). As an independent financial institution, it provides banking services for private, companies and communities in the heart of the Aargau canton. What is more, it has made a name for itself as an innovative bank, which promotes digitisation of the banking sector in Switzerland.