neon Switzerland uses Finstar for new open banking project
Finstar®, the core banking system of Hypothekarbank Lenzburg, will be used for a new open banking project. Zurich-based fintech startup neon Switzerland and the Lenzburg regional bank have signed an agreement to this effect.
The mobile banking app neon is currently in a test phase and will be available on the open market for end customers in summer 2018 as planned. Anyone who signs up to use the neon app will automatically become a customer of Hypothekarbank Lenzburg and receive a specially created digital account with the Lenzburg bank.
For the processing of financial transactions on the neon app, the data exchange between the app and the core banking system Finstar® runs via a secure interface. Hypothekarbank Lenzburg put this into operation in summer 2017 as part of its Open API initiative.