ndgit simplifies the fast connection of Swiss banks to the Open Finance platform bLink from SIX
Munich / Zurich, July 2022
The “ndgit bLink Connector” simplifies the fast and secure connection of banks to the bLink platform and their open finance ecosystem. The steadily growing Swiss API hub allows banks, among other things, to connect their accounts and payment systems to leading accounting software applications or, in the area of OpenWealth, to extend the tools of asset managers and WealthTechs with bank-specific offerings. In cooperation with Inventx and supported by SIX, ndgit has developed the bLink Connector and will make it available to banks and their IT partners from July 2022.
Open Finance enables bank customers to access their account information and other bank data with their preferred partner applications. The security of the Open APIs required for this is a permanent challenge for banks. The EU reacted to this with the regulatory directive PSD2, Switzerland on the other hand with market initiatives such as bLink, which implements industry-defined API standards or Open APIs in an efficient, secure and scalable manner.
The ndgit bLink Connector is based on ndgit’s API Security Suite, with which more than 20 European banks have already implemented their PSD2 APIs and securely connected them to the applications of more than 200 third-party providers (TPPs). The module supports essential functions for secure open finance interfaces such as authorisation and authentication of requesting bank customers and the applications and partners they use. Consent management also finely regulates the access rights of third-party providers to the end customer’s data. This is made possible by Identity Access Management (IAM), which has been further developed for Open Finance use cases and which generically provides the necessary security requirements of Open APIs. This IAM is future-proof because it supports current and future standards such as OAuth2, OpenID Connect or FAPI.
With the ndgit bLink Connector, banks implement the API security flow required for integration with bLink, from authorisation of customers and partners to consent management, complementary to their functional interfaces. “We would like to thank SIX and Inventx for their active support in the development of the bLink Connector,” says Marc Bewernik, Chief Product Officer (CPO) at ndgit. “Our integrated solution significantly reduces the cost and risk of connecting bLink for banks and IT partners.” The ndgit bLink Connector is tailor-made for future security architectures with which banks can also implement API standards such as PSD2 or OpenWealth or make self-developed APIs available to third parties – in banking and beyond.
The bLink Connector is a joint development of ndgit with Inventx and supported by SIX. “ndgit’s module offers financial institutions and their IT partners new possibilities for the technical connection to the bLink platform. With Inventx, a first cooperation partner is already relying on this new solution,” says Sven Siat, responsible for bLink at SIX. For ndgit partner Inventx, too, the “API Security” aspect of the ndgit solution represents an essential addition to the product offering in the area of Open Finance. “With our API technology partner ndgit and its integrated API security suite, our banking customers of the ix.OpenFinance platform can use the constantly growing fintech offering of SIX bLink much more easily and even develop their own Open Banking APIs more efficiently,” says Rolf Wittlisbach of Inventx.
For more information on the solutions and platform technolgy of ndgit please visit: https://ndgit.com/en/platform-technology/ and https://ndgit.com/en/solutions/
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https://www.linkedin.com/company/10609657
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About ndgit
As a leading technology and solution provider for open banking platforms, ndgit connects banks, insurance companies, fintechs and platform companies to digital ecosystems. Our mission is to build the technology platform that provides end customers with access to new financial services. Today, more than 50 banks and companies worldwide already rely on the leading API platform for financial services to digitize traditional IT systems and position themselves for the future of open banking. The Munich-based company was founded in 2016 and currently employs around 65 people. The company’s investors include Capnamic, PROFounders and DvH Ventures.
For further information visit www.ndgit.com
Press contact ndgit GmbH
Sebastian Deck
Head of Marketing
sebastian.deck@ndgit.com
+49 89 99 82 413 – 11
