Sonect and Hypothekarbank Lenzburg are breaking new ground in terms of cash withdrawals: Lenzburger Bank is adding the financial application of the Zurich-based fintech company to its core banking system Finstar®.
This allows customers of Hypothekarbank Lenzburg to withdraw cash from selected shops and shops with their smartphone. The mortgage bank Lenzburg thus extends the existing network of its 25 ATMs in an innovative way.
The first benchmarks will be activated until the end of the first quarter. Thereafter, the network will be expanded continuously. The new service is free for customers of Hypothekarbank Lenzburg. Necessary for the use of the new service is the access to the e-banking of Hypothekarbank Lenzburg and the smartphone app of Sonect.
In their e-banking, customers can unlock the new service. In doing so, you consent to the exchange of account information between the Hypothecary Bank Lenzburg core banking system and the Sonect app that is required for the use of the virtual ATM.
The data transfer takes place via a secure interface that Hypothekarbank Lenzburg had put into the test run last summer as part of its Open API initiative. Over the past few months, selected fintech companies have tested the technology for their practical suitability.
With the commissioning of the new cash withdrawal function, the test phase is successfully completed and the open interface is activated in the operational Finstar® system. In the coming months, Finstar® will be supplemented with further Fintech offers.