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Credit Suisse and KLARA further expand their partnership for SMEs
Credit Suisse and KLARA are the first partners to be connected via the SIX platform "b.Link", allowing them to offer SMEs additional payment transaction applications.
Simplifying Swiss finance is just one of KLARA's many objectives. In addition to the accounting solution that automatically communicates with relevant bank interfaces, KLARA is now using SIX's standardized platform b.Link to send payment transaction data to Credit Suisse’s online banking platform easily and securely – with the client's consent.
Credit Suisse and KLARA already worked together in the pilot phase of the SIX open banking initiative, where they helped shape the development of the b.Link platform. As the first partners to be connected via this platform, the Lucerne-based digital assistant and the major Swiss bank now offer the option of transmitting payment transaction data and account information using b.Link. These additional applications are already available to SMEs.
Seamless payment transactions
The automated link between financial accounting and the banking system sets new standards for SME bookkeeping. As a central platform, b.Link now connects KLARA and Credit Suisse via standardized interfaces (API, application programming interface) and thus ensures the exchange of account information and payment delivery data – easily and securely. This now enables KLARA clients who provide their one-time consent in Credit Suisse Direct to use KLARA to access their account information or submit payment orders.
Renato Stalder, CEO of KLARA, stated: "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."
Online onboarding directly from KLARA
KLARA users have already been able to submit non-binding credit requests online to Credit Suisse since spring 2019. Even KLARA clients who do not yet have an account with Credit Suisse can now submit credit requests online. Once the relevant accounting information has automatically been entered, the SME will find out within seconds how much credit they can receive and at which interest rate. The SME is then given the opportunity to move seamlessly to the Credit Suisse online onboarding process and to digitally open a client relationship. Following successful onboarding, the client sees their credit application displayed in online banking and they can amend it as required or submit it directly online.
Anke Bridge Haux, Head of Digitalization & Products at Credit Suisse (Switzerland) Ltd., stated: "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."
Whether you need help with administration, bookkeeping, marketing, or sales: KLARA brings together the most important needs of modern small companies. Users send data to the competent authorities and insurance companies with the click of a mouse. This automation saves the authorities and insurance companies time and money. The savings are passed on to KLARA, which is why the core functions are free of charge. KLARA specializes in the Swiss SME market and belongs to the AXON Group, headquartered in Lucerne.
About Credit Suisse in Switzerland
In Switzerland, Credit Suisse serves private, corporate, and institutional clients. As the leading Bank for Entrepreneurs, Credit Suisse serves around 100,000 SMEs and many large companies in Switzerland. The range of services covers all matters relevant throughout a company's life cycle – from creating a company, the allocation of venture capital, credit transactions, to consulting for M&A and IPOs, along with the topic of succession planning. In addition to this, there are services for private wealth planning for entrepreneurs, for which Credit Suisse has a dedicated, specialized team of advisors. More information: www.credit-suisse.com/entrepreneurs.