The Swiss firm in Singapore is using its system to help improve onboarding and other important functions for institutions including EAMs, multi-family offices and other players.

Swissquote Bank, a Swiss digital bank, said this week that it has implemented OpenWealth API connectivity at its Singapore booking centre, Swissquote Singapore.

Developed in Switzerland, the OpenWealth API framework addresses industry challenges with fragmented data exchanges and manual onboarding processes. As reported before by WealthBriefingAsia, it can sometimes take months for HNW clients to open bank accounts and access other services due regulators having, understandably, tightened rules to fight dirty money. Unfortunately, delays have caused onboarding abandonment.

Swissquote Bank said the launch demonstrates its desire to strengthen its institutional and wealth management offering in Asia, and connect quickly with external asset managers (EAMs), multi-family offices, and other institutions. 

The OpenWealth standards were established by the OpenWealth Association, and founded and orchestrated by Synpulse, a consultancy. (An API means Application Programming Interface – a set of defined rules, protocols, and tools that enables different software applications to communicate with each other. APIs help banks and other institutions’ systems hook up together.)

Swissquote Singapore operates as the group’s Asia-Pacific hub; it is now a digital custodian for more than 70 EAMs, MFOs, and funds based in Singapore and Hong Kong. (Earlier in 2025, WBA analysed firms' work practices with Singapore’s EAMs here.)

"Our clients value independence, flexibility and efficiency – and that’s exactly what OpenWealth helps us deliver," Rafael M Weber, head of institutional clients at Swissquote Singapore, said. "With this connectivity in place, we’re reinforcing our commitment to EAMs and MFOs in Asia by offering a future-ready, integrated wealth management experience."

The OpenWealth Association, which was founded in 2020, has more than 60 members, including global private banks, core banking vendors, fintechs, and infrastructure providers.