Cornèr Group is opening its banking IT to third-party providers. It will cooperate with a Germany fintech to deliver the service.
The European branch of Cornèr Group has agreed to cooperate with Munich-based open-banking-expert NDGIT, the German fintech said in a statement on Thursday. Cornèr Bank is based in Lugano, the banking hub in Switzerland's Italian-speaking region.
Open Banking in the U.K., Liechtenstein and Italy
With the open interface technology of NDGIT, the Swiss banking group will be able to deliver its Cornèrcard in the U.K. and Liechtenstein as well as the Diners Club card in Italy to third-party providers. The service will conform with the PSD2 regulation of the European Union. PSD2 requires banks operating in the EU to open their IT for third parties by this autumn.
NDGIT is well known in Switzerland thanks to its cooperation agreements with Neon, Hypi Lenzburg and Contovista. The German firm also works with UBS and Credit Suisse to help them implement PSD2 in the EU.
