ndgit joins Open Wealth Association

Munich/ Zurich, 04 March 2021

The leading technology provider of Open Finance solutions, ndgit, has joined the Open Wealth Association. The Open Wealth Association is a community of established Swiss banks, WealthTechs and service providers orchestrated by the consultancy Synpulse. The association aims to define the standards for Open Wealth in order to lay the foundation for the seamless cooperation of banks and wealth managers. ndgit is involved in the API Design Circle.

“The Open Wealth Association is the most important platform for driving the topic of Open Wealth in Switzerland,” says Oliver Dlugosch, co-founder and CEO of ndgit. “As far as the technological aspect is concerned, the importance of the API standard for Open Wealth is comparable to that of the account and payment services interfaces of PSD2. That’s why we’ve been involved in the initiative’s API Design Circle from the beginning, so we can help define the interfaces and be at the forefront of development, similar to PSD2.” The API standard, which allows all partners to share their data for portfolios and securities transactions, creates the technological foundation for connected collaboration between banks, wealth managers and WealthTechs, enabling ecosystems in which banks and wealth managers can offer their respective clients the best combined propositions and execute them in a straightforward and fast way.”

Dr. Simon Alioth, Head of Open Finance at Synpulse, adds: “Synpulse is orchestrating the initiative and is pleased to have ndgit, a leading open finance platform provider, on board. The ndgit API banking platform connects more than 20 banks in Switzerland and 30 banks in the rest of Europe with digital partners and can also be used in Switzerland with partner Inventx as a SaaS model. In this way, we hope to quickly achieve integrations of WealthTechs into established banking systems.”

ndgit and Synpulse have been working together for some time, and in February unveiled the official test environment sandbox for today’s Open Wealth Association.

In addition to its involvement in the Open Wealth Association, ndgit is also a member of the Berlin Group Advisory Board, which is defining the standards for PSD2, and the Swiss SFTI, which is driving the standardization of Swiss banking APIs as part of the Common API. “To now also participate in the development of the standards for Open Wealth and to offer banks a comprehensive solution here is therefore a logical further development step for us in the direction of Open Finance,” says Dlugosch.

Learn more about the possibilities of Open Wealth in the recording of the joint webinar by ndgit and Synpulse (free of charge, video in German only):

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

About Synpulse Management Consulting

Synpulse is an internationally established management consulting firm and a valued partner to many of the world’s largest financial services firms. Since its founding in 1996, Synpulse has supported banks and insurance companies along the entire value chain, from strategy development and operational execution to technical implementation and handover. Synpulse is characterized by in-depth industry knowledge and the passion and commitment of its 480 employees in ten countries. Synpulse has offices in Zurich, Geneva, Düsseldorf, Frankfurt, Ulm, London, New York, Hong Kong, Singapore, Vienna, Bratislava, Manila and Sydney.
For further information visit www.synpulse.com