Why Real Estate Needs Its Open Banking Moment

For most people, their property is their biggest asset. So why is it still disconnected from the world of finance?

Picture This

You're selling your home. You want to buy a new one. You'll probably need bridge financing — and you're wondering what all this means for your pension plan. You might even want to reinvest part of the proceeds. Instead of clear guidance, you're juggling logins, sending the same documents to different people, receiving contradictory advice, and having the same conversations twice. It's a maze of inefficiency and confusion.

The agent tells you your property is worth more than you thought. The bank values it more conservatively. Your advisor doesn’t talk to your agent. No one knows what information was already shared — or with whom.

You’d expect a connected experience. Instead, you get a maze.

Here’s the issue: neither your agent nor your bank advisor considers long-term implications. They tend to focus on immediate transactions rather than how your property fits into your financial strategy.

Where It Breaks Down

Real estate and finance still operate in two separate worlds—especially in Switzerland. That might sound strange because they depend on each other, but the systems, tools, and mindsets haven't caught up.

Here’s what that looks like in practice:

• Everything is manual: Emails, PDFs, phone calls — and, in some cases, physical mail.
• The same info is asked repeatedly: Identity documents, property details, and valuations.
• Inconsistencies are typical: A property’s value can vary depending on who you ask — especially when agents want to impress sellers and banks want to manage risk.
• There’s no shared infrastructure: Every institution repeatedly collects and verifies the same things.
• The client is stuck in the middle: Coordinating, nudging, and following up—with no clear sense of progress or control.

Getting a status update feels like a chore. These updates don't build relationships; they are merely transactional check-ins that waste time and energy.

What We Can Learn from Open Banking

Open banking didn’t start because everyone wanted it. It began because regulators and visionaries saw how broken things were and how much better it could be if systems communicated securely.

Embedded finance – the integration of financial services into non-financial businesses – is fast becoming a norm internationally. (KPMG, 2023)

The idea was simple: Financial institutions should share data only when the client says so. They should do so securely, standardizedly, and transparently.

That shift enabled new services, better experiences, and faster decisions—not just for banks but also for clients.

In the real estate industry, we are significantly lagging. However, the same principles still apply:

• As the homeowner, you should decide who sees your data and when.
• Your bank, agent, and insurer should work off the same information.
• You shouldn’t have to repeat yourself or resend the same files over and over.

What Real Estate’s Open Banking Moment Could Look Like

Imagine this instead:

• You give your bank permission to share your property's verified valuation with your agent — and vice versa.
• Everyone involved works with the same numbers, the same documents, and the same facts.
• Your financing, sale, and next steps are all connected — not fragmented.
• You only need to upload your information once, and it stays up to date.
• Your status is visible in real-time — and people focus on solving problems, not just “checking in.”

This isn't just about efficiency. It's about respect. It values your time, your data, and your decisions. It's a system that works for you, not against you.

This is a critical moment for banks, in particular. When they lose visibility into real estate transactions, they lose something else: the mortgage, the client, and the long-term relationship. We call this the mortgage gap, and it's avoidable. By embracing open banking principles in real estate, banks can retain their clients and offer a more comprehensive service, enhancing their competitive position in the market.

The Bigger Picture

It's not just a business risk—it's also a failure to meet expectations. People now expect their banks to be there for them when it matters most. According to recent research by PwC on non-financial services in wealth management, clients increasingly want their banks to offer support during significant life events, not just provide financial products.

A comprehensive customer experience is expected, and banks that don’t offer connected services risk losing client trust. (PwC Switzerland, 2023)

This issue goes beyond mere convenience. It involves meeting expectations and remaining relevant.

The technology exists, and the demand is growing. What's holding us back is not just mindset—it's also a lack of coordination, fear of moving first, and uncertainty around regulation. However, the industry can overcome these barriers and pave the way for a more connected future in real estate and finance.

Those who take the lead now—who build secure, open collaboration into their processes—will not only catch up, but they'll also define the new standard.

Final Thought

Real estate needs its open banking moment. Not because it’s trendy — but because it’s overdue.

The tools are there. The pain points are clear. The client is ready.

The only question is: who’s going to step up?

Written by Fabio Mosimann — the same guy from the disclaimer, co-founder of Gridwork and Brixel. I wouldn't have had to write this if the system worked fine.