The OpenWealth Association’s vision is to define, maintain and operationalize the Open API standard for a global wealth management community.
The OpenWealth Association’s mission is to strengthen Switzerland as a financial hub and innovation centre by connecting financial institutions, WealthTechs and other service providers, and by setting the Open API standard for a global wealth management community. Furthermore, the association aims to foster the exchange of expertise among its members and with third parties, as well as to cooperate with organizations of similar nature in Switzerland and abroad.
HOW THE OPENWEALTH COMMUNITY WORKS
OPENWEALTH API SCOPE
OPENWEALTH PRESS RELEASES
OPENWEALTH IN THE MEDIA
Today‘s connectivity between custody banks and portfolio management systems (PMS) resp. external asset managers (EAM) is to this date mostly proprietary, with a single data exchange per day (end-of-day) and includes manual steps in the process. This results in an increased error rate as well as additional costs to maintain the different interfaces. A joint study of Synpulse Management Consulting and the St.Galler Kantonalbank (SGKB) together with leading PMS, EAM and custody banks shows that a standardized interface in wealth management is desirable as it leads to advantages for all involved parties. It is such REST-APIs (Application Programming Interface) in wealth management that the OpenWealth Association is developing to create a standard which is business-oriented, broadly accepted and based on known industrial norms.
In June 2020, the global management consultant Synpulse and the Swiss regional bank St.Galler Kantonalbank (SGKB) established the OpenWealth Community with the aim of def...READ MORE
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Vice President and Board Member
President and Board Member