Credit Suisse and KLARA partner in open banking for private clients

By Joy Dumasia

As part of the cooperation between Credit Suisse and KLARA, a subsidiary of Swiss Post, private clients can now also benefit from open banking services for the first time. Remote clients can make payments directly from their Credit Suisse account using the new ePost app from KLARA.

Credit Suisse and KLARA Business AG have offered innovative solutions that create significant value for corporate clients through their partnership since 2019. These include the automatic exchange of payment information and online credit applications. Credit Suisse is one of Switzerland’s first central banks extending its open banking services from corporate clients to its segment.

To pay invoices directly and without a separate login procedure, private clients of Credit Suisse can now link their accounts to the ePost app with a one-time opt-in process that allows them to initiate digital payments directly. KLARA’s ePost app communicates with the online banking system of Credit Suisse based on the secure, standardized bLink interface; this simplifies payment transactions for private clients.

Anke Bridge Haux, Head of Digital Banking at Credit Suisse AG, stated: “By offering open banking services, we are creating an integrated, personalized client experience. In partnership with KLARA, we are now providing our private clients with payment functions via interface technology. It is easy, seamless, secure, and available wherever clients need it on a day-to-day basis.”

Recently, IBS Intelligence reported that Paxos, a regulated financial institution building infrastructure to enable movement between physical and digital assets, has announced that Instinet and Credit Suisse settled US-listed equities trades on a same-day settlement cycle ( T+0) via Paxos Settlement Service.