The Swiss retail giant Coop has sparked ambitions at Hypothekarbank Lenzburg with its banking app services. The bank is now launching its own brand, HBL Solutions, for the banking-as-a-service sector. This move is seen as a strategic commitment to the growing business of embedded finance, where non-banks integrate financial products into their value chains. Hypothekarbank Lenzburg recently achieved a milestone in this field by partnering with Coop for the product Coop Finance+.
Embedded financial services are in line with current trends, according to bank CEO Marianne Wildi, who is set to assume the presidency of Hypothekarbank Lenzburg in spring 2024. The new brand will consolidate the distribution and management activities, highlighting the strategic importance of the banking-as-a-service sector and distinguishing it from traditional banking activities.
HBL Solutions will continue to be managed by Hypothekarbank Lenzburg, with the processing of banking services carried out through the bank’s proprietary open banking platform, Finstar. The platform’s open interface architecture allows for modular integration of services into external systems, aligning with the bank’s fintech ambitions.
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| Information | Details |
|---|---|
| Geography | Europe |
| Countries | 🇨🇠|
| Sentiment | positive |
| Relevance Score | 1 |
| People | Marianne Wildi |
| Companies | HBL Solutions, Hypothekarbank Lenzburg, Coop Finance+, Finstar, Coop |
| Currencies | None |
| Securities | None |
