SIX bLink, the Swiss open banking platform, partnered with Deedster, a Swedish climate fintech, to enhance their offerings and deliver an innovative CO2 footprint calculator for Swiss banking clients to offer their customers. This powerful collaboration has resulted in a win-win situation for both companies and the Swiss financial market.
- bLink, open banking platform by SIX, connects banks and fintechs in Switzerland, offering account access, payment submission, and wealth management services.
- Deedster, a Swedish climate fintech, focuses on creating climate impact and awareness using data-driven technology across employee engagement, SME service, and retail for banks.
bLink's objective is to bring value and innovation to its clients by identifying and integrating new API-based services. With ESG emerging as a top priority, they joined forces with Deedster to provide customers a CO2 footprint based on transaction data and support for ESG improvement.
Deedster was seeking market expansion after successfully working with nearly 80 banks and corporates across Europe. The bLink WealthTech challenge offered them an attractive market and a corporate sponsor who understood their value proposition.
1. Selection: bLink collaborated with Tenity, scouting and curating startups offering API-based solutions to meet customer needs.
2. Facilitation: Deedster joined Tenity's Open Innovation Program, allowing bLink to explore Deedster's offerings and track record.
3. Collaboration: bLink and Deedster developed a CO2 footprint calculator tailored to the Swiss market, accounting for local client requirements and Swiss national carbon data.
The partnership led to a successful PoC using anonymized real-life data, offering a standardized and easy-to-integrate API-based solution for private customers. Banks in Switzerland can now provide added value to their clients, while Deedster benefits from accelerated market entry and bLink's network for potential clients.
- Build relationships and trust for successful PoCs.
- Keep the PoC scope reasonable and manageable.
- Create a lean legal setup early in the process
- Be flexible and creative when dealing with organizational complexities.
- Choose open innovation programs wisely to align with strategic objectives.