Can Swiss Banks and Fintech Use Untapped Potential?

Can Swiss Banks and Fintech Use Untapped Potential?

Traditional Swiss banks could miss the boat because innovators use Fintech solutions and they drag their feet.

Some new developments suggest that the digital revolution will change the financial services industry. For example, the Swiss National Bank (SNB) just published its study on digitization and fintech at Swiss banks. Also, established players announced their intention to invest massively in a new range of digital services. And Switzerland issued the first bank licenses for so-called crypto banks.

This is a clear signal that market participants want the new technologies to be fully integrated into the banking sector. However, the results of the latest SNB study shows that the traditional banks are not making optimal use of Fintech and digitization and thereby don’t use untapped potential.