The API
Standard and Community for the Wealth Management Industry
Openwealth Association
Vision
The OpenWealth Association’s vision is to define, maintain and operationalize the Open API standard for a global wealth management community.
Mission
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.
OpenWealth Explained
OpenWealth defines, maintains, and operationalizes the global API standard to establish efficient connectivity between Banks and WealthTechs and enable Open Finance use cases. OpenWealth APIs are platform agnostic.
APIs
Openwealth APIs
Custody Service
Customer Management
Order Placement
Data
- Positions of any kind (security, cash, loans, etc.)
- All transactions affecting position bookkeeping
- Customer master data
- KYC
- Documents
- Stock exchange & OTC bulk and single orders
- Order status and executions
- Billing details with all costs
Use Cases
- Get position and transaction data including valuations for reconciliation purposes (end-of-day) or near real-time basis
- Connect your CRM with custody banks using OpenWealth API to automate customer onboarding and lifecycle management.
- Place orders for listed instruments, OTC and treasury transactions and receive their status in near real-time in your Portfolio Management System.
Custody Service
Data
- Positions of any kind (security, cash, loans, etc.)
- All transactions affecting position bookkeeping
Use Cases
- Get position and transaction data including valuations for reconciliation purposes (end-of-day) or near real-time basis
Customer Management
Data
- Customer master data
- KYC
- Documents
Use Cases
- Connect your CRM with custody banks using OpenWealth API to automate customer onboarding and lifecycle management.
Order Placement
Data
- Stock exchange & OTC bulk and single orders
- Order status and executions
- Billing details with all costs
Use Cases
- Place orders for listed instruments, OTC and treasury transactions and receive their status in near real-time in your Portfolio Management System.
Sandbox
Dive into the OpenWealth Sandbox and learn more about the API.
Community
Benefits
OpenWealth Services
Member
Public
Full association membership with seat in the general assembly of the association.
Access and active contribution to Expert Circles (influence API scope, knowhow exchange, networking, etc.).
Active Members have priority access to all API versions (patches, minor and major versions in development).
Access to all API specifications and documents produced in the OpenWealth Expert Circles (documentation, etc.).
Access to OpenWealth sandbox with developer portal and WealthTech test client for development and certification.
Use of the OpenWealth brand for marketing and communication & inclusion in OpenWealths marketing activities.
OpenWealth events (networking, know-how exchange, etc.) and access to the Business Circle.
Access to API major version specification (OpenAPI YAML file only) and permission for productive use of the API.
Benefits
Access to API major version specification (OpenAPI YAML file only) and permission for productive use of the API.
WealthTechs
Partner Associations & Orchestrator
OpenWealth in the media
Singapore FinTech Festival (SFF) 2023
Order Placement Live at SGKB
About us
Today‘s connectivity between custody banks and portfolio management systems (PMS) resp. external asset managers (EAM) is 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. Standardized interfaces in wealth management are therefore desirable and lead to advantages for all involved parties. It is such REST-APIs (Application Programming Interfaces) 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.
