The Story of Luzerner Kantonalbank

Problem 1: Manual transfer or reconciliation of payment and/or account information files from an accounting solution to the LUKB e-banking application.

Problem 2: Logging in to multiple e-banking applications to get an overview of the overall financial situation (with multiple banking relationships).

Problem 3: Manual reconciliation of custody data and the entry including subsequent reconciliation of stock exchange orders to portfolio management systems (PMS) for external asset managers.

Solution 1:

With bLink, our clients can automatically transmit payment orders from their accounting solution to LUKB at the push of a button and automatically reconcile account or transaction information.

Solution 2:

With bLink, our clients can directly connect accounts from third-party banks with LUKB and view balances as well as account movements centrally and collectively in the LUKB e-banking. In addition to a uniform overview, the solution offers an intelligent financial assistant. Transactions are automatically categorized, budgets can be managed across the board, and spending analyses can reveal savings potential or indicate recurring payments such as subscriptions. This creates a new quality of transparency and control over personal financial situations.

Solution 3:

External asset managers can connect their PMS directly with LUKB, thereby automatically synchronizing their clients' custody data and directly transmitting exchange orders from the PMS to LUKB.

bLink allows for a variety of third-party software solutions to be connected directly, without the need to implement classic 1:1 interfaces. This reduces the time cost for the bank and offers the opportunity to advance further exciting use cases in the area of open banking. bLink is currently the standard solution in the area of open banking.

Luzerner Kantonalbank (LUKB) has chosen bLink because the platform offers a future-oriented, standardized, and scalable solution in the area of open Banking. As an established universal bank with a broad client base and diverse digital services, it is pivotal for LUKB to efficiently and securely integrate innovative technologies into existing systems. bLink enables exactly that: a simple, central connection to third-party software solutions, without the effort of individual interface developments.

With bLink, we can address several challenges simultaneously. On the one hand, our private clients benefit from the multi-banking service, which allows them to integrate accounts at third-party banks directly into the LUKB e-banking application. The intelligent processing of data ‒ including automatic categorization, budget management, and spending analysis ‒ creates a new dimension of transparency and control over the personal financial situation.

On the other hand, bLink facilitates cooperation with external asset managers by allowing custody data to be transferred directly into the portfolio management system (PMS) and exchange orders to be transmitted efficiently. The solution also offers clear advantages for corporate clients: Payment orders and account information can be synchronized with LUKB ‒ directly from the accounting software.

bLink is the right solution for us because it meets our demanding requirements for security, efficiency, and user-friendliness while also enabling new digital business models. In our view, the platform is the current standard in Swiss open banking and offers great potential for future enhancements.

Founded in 1850, the Luzerner Kantonalbank (LUKB) is the leading bank in the canton of Lucerne with around 1400 employees. It operates a total of 23 branches and is among the top ten Swiss banks. Its core business includes wealth advisory and management, pension business, as well as real estate and corporate financing. Client proximity and performance set LUKB apart and make it the first-choice bank for clients, employees, shareholders, and the region.

With bLink, LUKB takes on the role of service provider and service user. As a service provider, it provides account information (AIS) for accounting solutions and custody data (Custody API) for portfolio management systems (PMS). In addition, LUKB offers the possibility to receive payments (PSS) as well as exchange orders (Order API). In the role of the service user, LUKB provides its private clients with multi-banking ‒ a service that allows clients to view their accounts with third-party banks directly in the LUKB e-banking tool. The account data is intelligently processed, enriched, and presented in a way that is understandable for the users.