Within the scope of a partnership between Swisscom and Inventx, the banking business services of Swisscom are to be made available on the Open Finance Platform “as a Service”.
Customers of Inventx will benefit from the fact that they can “industrialise” their back office activities in an even more convenient, scalable and therefore cost-effective manner. This will enable them to concentrate on innovative business models that help them to differentiate themselves from the competition.
Swisscom offers banks Business Process Outsourcing (BPO) for payment transactions, securities data management and securities processing, as well as capture services (digital document management). These services can now also be obtained in the form of “BPO as a Service” via the Inventx Open Finance Platform. Inventx can therefore offers its ix.OpenFinancePlatform customers a significant increase in added value.
Inventx does not provide Business Process Outsourcing services itself, but can now make them available on its platform to financial institutions in the growing third-party eco system. Financial service providers who want to industrialise their back office activities thanks to BPO, and therefore make them more efficient, are provided with these services in a flexible, scalable and cost-effective manner via standardised interfaces (APIs). This solution allows them to focus on their own value-adding, competitive strengths and innovate their business models.
Gregor Stücheli, co-owner of Inventx, sees a lot of potential in the partnership for the future of the open finance approach: “We place added value for our customers above any competitive thinking. Our platform is open to all offerings that facilitate digital transformation and differentiation for our customers in an increasingly competitive environment. The new ‘BPO-as-a-Service’ offer also increases the attractiveness of our platform, which now provides even more benefits to our shared customers. In the new world of open finance, ‘Co-opetition’ will become increasingly popular, and we are pioneers in this area together with Swisscom”.
Oliver Kutsch, Head of Banking at Swisscom, added: “Open eco-systems instead of a restrictive competition mindset – that is what allows us to create added value for the Swiss financial industry. And our cooperation with Inventx in BPO is the best example of this. But we intend to open up even more opportunities, when this “opening” goes beyond the boundaries of the financial industry. We’re working on this.”