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Driving sustainability through Open Banking​

June 13, 2023

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.

The Visionaries

- 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.​

The Goal for bLink​

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.​

The Opportunity for Deedster

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.​

The Process:

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 Result

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.​

The Learnings

- 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.​

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