Retrospective of the 11th member event of the OpenBankingProject.ch

On November 13, the members of the OpenBankingProject.ch met for the eleventh time to discuss current developments in the field of open banking in Switzerland and to take a look into the future together. The event offered exciting insights into the latest advances and chal-lenges in the sector. In this blog post, the most important highlights and insights of the day are described.

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Recommended role profiles in the context of open banking for Swiss banking groups

The third and final part of this series of blog posts examines the suitability of strategic role profiles in the context of open banking (individualist, producer, distributor, and platform) for Swiss banking groups. The article illuminates that the size, business environment and geographical focus of the individual financial institutions have a significant influence on the choice of a suitable open banking strategy. It also presents business models of the future and analyses how big banks, cantonal and regional banks and private banks could position themselves with their service offering in the future.

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Implications of Open Banking for the Business Model of Banks 

In order to implement Open Banking, the European Union has been pursuing a regulatory-driven approach with PSD2 since 2018. In contrast, Switzerland is currently one of the few countries like the United States, Argentina, South Africa, and China to pursue a market-driven approach. However, last December, the Swiss Federal Council addressed Swiss financial institutions with a clear message and wants to accelerate developments around Open Banking. The first part of this three-part blog post series presents the impact of Open Banking on the business model of Swiss universal banks.

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