The introduction of retail multibanking in Switzerland on November 25, 2025 marked a key chapter in the development of open banking – a chapter that is entirely in line with the market-based approach that Switzerland has pursued since the beginning.
The industry association Swiss Fintech Innovations (SFTI), founded in 2016 by innovation-oriented financial institutions, has been committed to joining forces on future- oriented topics since its inception. From the outset, a particular focus has been on open banking – not as a regulatory requirement, but as a joint market initiative.
One of the SFTI’s key insights came early on: standardized interfaces (APIs) are the basis for innovative business models and for collaboration in ecosystems. The SFTI’s Common API Working Group developed the conceptual foundations and the necessary interfaces, which are now being used in retail multibanking.
On this basis, the Swiss Bankers Association (SBA) was able to lay the foundation for joint implementation with a memorandum of understanding. The technical implementation was a joint effort by Swiss banks and their software providers on the SIX bLink platform – an impressive example of effective industry cooperation.
SFTI would like to thank the SBA, SIX, and all participating banks for their consistent and committed advocacy of the market-driven approach to open banking. We wish all institutions, fintechs, wealthtechs, and other market participants a successful start to the new era of open banking for private customers.
SFTI is convinced that the introduction of retail multibanking has created an important foundation that can be expanded to include further use cases that simplify customers’ lives. SFTI therefore hopes that all participants will continue to actively and broadly participate in the various working groups. After all, more can be achieved together than alone.
Read the full media release here:
EN: SFTI_Retail-MB_en
DE: SFTI_Retail-MB_de
Additional Information: info@common-api.ch
Contact
Swiss Fintech Innovations (SFTI)
Rämistrasse 5
P.O. Box
8024 Zurich
Switzerland
office@swissfintechinnovations.ch
About SFTI Common API
The Common API Working Group is an initiative of the Swiss branch association SFTI (Swiss Fintech Innovations). This association brings together renowned banks and insurers with other key players in the Swiss financial center to holistically address key innovation-related issues in their industries. The conceptual groundwork for creating a cross-industry and broadly coordinated interface standard is being pooled in the Common API Working Group.