F10 adds OpenPK-Project and OpenBankingProject.ch APIs to FinTech Sandbox. In October 2019, F10, the largest Swiss FinTech Hub & Accelerator, announced the launch of its FinTech Sandbox. The first and only FinTech Sandbox in Switzerland is powered by open banking pioneer ndgit, which is the first use case to provide the PSD2 APIs based on the Berlin Group Standard, thus bringing PSD2 technology to Switzerland for the first time.
End users of the F10 FinTech Sandbox are the nearly 100 FinTech Startups in the F10 ecosystem. The international and Swiss FinTechs will be selected for the F10 Incubator & Accelerator Programs in Zurich and Singapore and will be supported in their collaboration with currently 13 F10 Corporate Members, including SIX and leading Swiss and international banks and insurance companies.
Only the PSD2 API will be enhanced by two Swiss Open API projects, which will also be used by F10 Startups via sandbox in the future to develop innovative products and services for the Swiss financial market:The OpenPK Project creates open APIs to pension funds and thus enables new applications that provide the Swiss population with more transparency about their pension provision, simplify financial planning or accelerate administrative work in the HR department. It is driving forward the urgently needed digitization of pension provision. The OpenBankingProject.ch is the first API standard for Switzerland to provide the Swiss NextGen API for account information and payment orders in accordance with the specifications valid in Switzerland. The API is based on the open industry standard NextGenPSD2 from the Berlin Group.
FinTechs can test their applications via the sandbox provided by the project and also activated at F10.Both projects are a further step towards Open Finance in Switzerland and are currently looking for partners (pension funds or banks, FinTechs, service and technology providers) to add even more power to the movement and to operationalise further APIs.F10 is thus further expanding its API ecosystem and will present the two projects at the F10 FinTech Sandbox on 3 March during a FinTech Lunch from 12-13h at the F10 Space in Zurich. All FinTechs and Open API interested parties are welcome to attend.
About F10 FinTech Incubator & Accelerator
F10 – THE HOME OF FINTECH is an ecosystem of Startups, Corporates, Experts and Investors that is changing the global financial world through talent, technology and commitment. As a FinTech Incubator and Accelerator based in Zurich and Singapore, F10supports and guides Startups in transforming their ideas into successful companies while stimulating collaboration with international organizations. Working together with SIX, the Swiss stock exchange, the Baloise Group, Julius Baer, Generali Group Switzerland, PwC Switzerland, Raiffeisen, Zürcher Kantonalbank, eny Finance, ERI Bancaire, Capgemini, Tamedia, PostFinance and R3, F10 is at the forefront of changes in the financial world. The Home of FinTech is committed to driving innovation across the industries of tomorrow. www.f10.ch
For all those who want to remain at the forefront of financial services in the future, ndgit is developing the technological backbone for networked banking and insurance, thus laying the foundation for the transformation of everyday banking. The API platform enables the bank to open up to digital partners with Open Banking APIs, PSD2 solutions and other standards to deliver, consume or manage micro services.www.ndgit.com