Using SIX b.Link platform Credit Suisse and KLARA can now advance online credit requests within seconds to support SMEs
Credit Suisse headquarters in Zürich (Credit: Roland zh/Wikipedia.org)
Swiss investment company Credit Suisse has expanded its partnership with KLARA to further support small and medium enterprises (SMEs).
The two firms have become first partners to be connected via SIX platform b.Link, which enables them to offer SMEs additional payment transaction applications.
Both have already worked on the pilot phase of the SIX open banking initiative where they helped in the development of the b.Link platform.
As partners, the Lucerne-based digital assistant and the Swiss bank now provide the option of sending payment transaction data and account information using the b.Link platform.
As a central platform, b.Link connects Credit Suisse and KLARA through standardized interfaces (APIs), ensuring easy and safe exchange of account information and payment delivery data.
The platform allows KLARA clients who provide one-time consent in Credit Suisse Direct to use KLARA to access their account information or submit payment orders.
Credit Suisse (Switzerland) digitalization & products head Anke Bridge Haux said: “We want to offer innovative solutions that simplify the lives of our SME clients. That is why we’re making these solutions available to them online – where there is a need and where clients benefit directly.
“This is precisely what the ongoing expansion of our partnership with KLARA allows us to do: SMEs can take care of their finances efficiently and seamlessly on a single platform – from online credit applications and the entering of payment orders to digital account opening – all from a single source.”
SMEs can now how much credit they can receive within seconds
Since spring 2019, users of KLARA have been able to submit non-binding credit requests online to Credit Suisse. However, submitting of credit requests online is now allowed for KLARA clients who do not yet have an account with the bank.
Once the relevant accounting information has been automatically entered, the SME can know how much credit they can receive and at which interest rate, in few seconds.
KLARA CEO Renato Stalder said: “The partnership between KLARA and Credit Suisse is taking an important step forward. With the automated bank connection via b.Link, the reconciliation of accounts for joint clients will be carried out automatically from KLARA, and their payments will be transmitted rapidly and easily to the bank.
“This saves Credit Suisse clients considerable effort, enabling them to spend more time focusing on their core business.”