Open Banking in Switzerland

Open Banking in Switzerland

What is the current status of Open Banking in Switzerland?

According to a report on open banking and application programming interfaces by the Basel Committee on Banking Supervision, Switzerland is in category 3: Category 3 of establishing a framework for open banking. This category is titled, ”Market-based approach with no explicit rules on data sharing” and is essentially a state where there are no explicit rules or guidelines requiring or prohibiting the sharing of data by banks with third parties and the customer’s permission.

Interesting stats about OB potential in Switzerland

What will the future of Open Banking look like in Switzerland?

Switzerland is definitely in the right path to Open Banking implementation and adoption. The country is in need of a strategic approach on how to include third-party providers and regulators to take the next step in the evolution of the technology. 

 


Banks

Here is a list of major banks providing Open Banking in Switzerland