The initiative is being delivered via the bLink open banking platform operated by SIX, the financial market infrastructure provider.
Starting this week, customers of eight banks and two third-party providers can connect their accounts to consolidate balances and transactions in one interface.
More than 30 banks currently offer the necessary data connections, enabling users to access account information not only through their own bank’s app but also through approved third-party tools such as budgeting and spending analysis apps.
With customer consent, data can be shared securely between financial institutions and fintechs using standardised APIs. SIX said state-of-the-art encryption and access controls ensure data security and integrity.
The initiative stems from a 2022 industry programme launched by Swiss FinTech Innovations and later coordinated through a memorandum of understanding by the Swiss Bankers Association, signed in 2023.
The long-term objective is to create an open ecosystem where banks and non-banks can offer new services built on shared financial data.
Christoph Müller, head of banking services at SIX, said multibanking provides a “concrete use case” for open banking and urged wider participation to maximise customer value.
More banks are expected to join in the coming years, potentially enabling broader product innovation and simpler financial management for consumers.
