OpenWealth Association

Switzerland · Banking

The OpenWealth Association is a Swiss industry association established in 2021, based in Zurich. It focuses on developing and promoting a standardized Open API framework for the wealth management and financial services sector. Founded by prominent financial institutions, the association aims to enhance collaboration among banks, wealth managers, and WealthTech firms to create interoperable API interfaces that facilitate seamless data exchange. The core offering is the OpenWealth API, a set of RESTful APIs designed to standardize communication between various financial service providers. This enables automated, real-time data exchange, improving operational efficiency and client service. The association also provides a sandbox environment and developer tools for members to test their API implementations. Membership offers access to API specifications, networking opportunities, and the ability to influence API development. OpenWealth APIs support innovative business models and promote sustainable investments, making them valuable for custody banks, wealth managers, and WealthTech companies. The association has grown to include over 60 members, reflecting significant industry adoption and a commitment to advancing open banking principles in wealth management.