adesso Schweiz and Hypothekarbank Lenzburg enter into strategic partnership in open banking

There has been a fundamental shift taking place for several years now in the banking sector since the advent of open banking. Open interfaces allow financial service providers to update their business models and adapt them to better serve changing customer requirements. Hypothekarbank Lenzburg is playing a leading role in Switzerland in this area.

The regional bank 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 innovative services are also available to others banks and bank-like institutions. 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.

With its in-depth expertise in IT and banking, adesso Schweiz AG has an excellent understanding of the open banking trend, making it the perfect implementation partner for Hypothekarbank Lenzburg. Under a contractually agreed strategic partnership, 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. According to Hansjörg Süess, CEO and Delegate of the Board of Directors of adesso Schweiz AG: ‘We are very proud to be working with Hypothekarbank Lenzburg to promote the open banking model in the Swiss banking sector in future years.’ Marianne Wildi is also thrilled about the partnership: ‘We believe that working in close partnership with adesso allows us to more effectively exploit the potential of our innovative solutions.’