Switzerland switched stances on retail multibanking on November 25, 2025. The launch of multibanking runs through the bLink open finance platform operated by SIX. Starting this week, customers of eight banks and two third party providers can see accounts in one app. More than 30 banks have the data interface needed to make this work.
The service links bank data only with clear consent. Encryption and access rules aim to keep data secure during exchange. Early uses include account overviews, budget tools, and spending checks. Banks may also let clients use the same link inside approved non bank apps. The first wave is live, and the scope will grow.
Industry pact guides open finance
This rollout grew from a sector pact set in motion in 2022. Swiss FinTech Innovations prepared the work, then banks coordinated a memorandum of understanding in May 2023. The pact asks signatories to open standard interfaces for private account data. It set a target to deliver initial services for people by mid 2025.
Christoph Müller, Head of Banking Services at SIX, said, “Open banking is gaining momentum in Switzerland,” Christoph Müller. He also pointed to the benefit of more institutions joining. As more banks connect, the offer becomes more complete for clients. That scale matters for new products and clean data flows.
Implications for banks and apps
For banks, bLink provides standardized APIs and a uniform way to vet partners. That can reduce onboarding time and help scale services across the market. A single contract and an admission test replace many bilateral checks. This structure supports repeatable connections and lowers project risk for both sides.
Some institutions will build their own multibanking views for clients. Others may back third party apps that use the same secure consent flow. Either path relies on the same common pipes and rules. That alignment creates a base for spending tools, payment initiation, and wealth features over time.
Policy remains market led in Switzerland. The trade body stresses competition over mandates. “Regulatory measures such as the forced opening of interfaces are not expedient,” the Swiss Bankers Association said. In September 2025, the association also issued guidance on due diligence and disclosure for multibanking, to support consistent rollouts.
The result is an industry built model that moves without EU style rules. Regulators watch progress while banks and fintechs deliver use cases. The launch marks a concrete step for open finance in a major market. Adoption will now depend on customer trust and clear value in daily use.