Author: Company Announcement

The Swiss Financial Market Supervisory Authority FINMA published guidance on the issuance of stablecoins. In it, it comments on default guarantees, the associated risks and discloses its practice on stablecoins. It further draws attention to the increased risks in the area of money laundering. In recent years, projects seeking to issue stablecoins have also gained in importance in Switzerland. They generally pursue the goal of providing a means of payment with low price volatility on a blockchain. FINMA has already commented on this in its supplement to the ICO guidelines for enquiries regarding the regulatory framework for initial coin offerings (ICOs) from…

The European Central Bank (ECB) published its first progress report on the digital euro preparation phase, which was launched on 1 November 2023 with the aim of laying the foundations for the potential issuance of a digital euro. The report outlines the progress made on key digital euro design aspects and the envisaged next steps for the project. Digital euro privacy The design of the digital euro includes an offline functionality that would offer users a cash-like level of privacy for payments in physical shops and between individuals. When paying offline, personal transaction details would only be known to the payer and the payee…

During its meeting on 19 June 2024, the Federal Council was informed by the Federal Department of Finance (FDF) about the most recent open finance developments in Switzerland. The latest advances made by the industry are considered sufficient at this time, so that there is no need for further regulatory measures to be proposed. The FDF will continue to closely monitor developments in the financial sector as a whole based on the targets set by the Federal Council in December 2022. Open finance refers to the practice of financial institutions using standardised and secure interfaces to make financial data available…

The Swiss Financial Market Supervisory Authority FINMA is opening bankruptcy proceedings against FlowBank SA on 13 June 2024. This measure became necessary as the bank no longer has the minimum capital required for its business operations. There are also fears that the bank is over-indebted. The aim of the bankruptcy proceedings is to protect depositors. According to current calculations, the privileged deposits can be repaid in full out of the bank’s available funds. FINMA established in the last week that FlowBank SA no longer has sufficient capital for its operations as a bank. The minimum capital requirements, which must be…

In a strategic move to transform the customer experience and automate internal operations, Crédit Agricole Next Bank launched its new lead management platform and CRM in March 2024. This launch marks a significant step in the digitalisation of retail banking. Maxime Charton, Deputy Director of Development, is at the forefront of this initiative and expresses his satisfaction with the successful implementation of this new automation tool. “The deployment of InvestGlass within Crédit Agricole Next Bank represents more than just a technical improvement; it’s a cultural transformation that allows the bank to continue innovating and improving its digital journeys for the…

Der Schweizer Immobilienmarkt bleibt auch in Zeiten nach Negativzinsen und trotz gestiegener Fremdfinanzierungskosten attraktiv. Robert Plantak und Ardian Gjeloshi, Gründer der Immobilien-Plattform Crowdhouse, sehen in der aktuellen Marktlage eine optimale Gelegenheit für antizyklische Investitionen in die Asset-Klasse des «Betongolds». Stark rückläufige Bautätigkeiten, die das ohnehin schon knappe Angebot weiter verknappen werden, treffen auf eine hohe Nachfrage nach Wohnraum. Anleger können auf dem Schweizer Markt für Rendite-Immobilien derzeit eine der «grössten Chancen der letzten zwanzig Jahre» nutzen. Der Schweizer Immobilienmarkt 2024 wird landläufig als ein Markt mit «neuer Realität» bezeichnet. Die Fremdkapitalkosten befinden sich laut Robert Plantak, CEO von Crowdhouse, auf…

Airwallex, a leading global payments and financial platform, announced its partnership with Bird (formerly MessageBird), a global communication platform, to power Bird’s international payments operations. Powering Bird’s global payments infrastructure Bird’s platform, applications and APIs help 29,000+ businesses to streamline conversations and build engaging experiences through their customers’ preferred channels – including WhatsApp, Email, SMS, Voice, WeChat, Messenger, and Instagram. The global nature of Bird’s business – with multiple currencies flowing in and out of operating entities around the world – had led to a fragmented financial operating system, split across more than 20 banking partners around the world. This…

Swiss4, a financial player founded in Geneva in 2020, announces the launch of its application combining financial services and high-end lifestyle management services. Entirely designed, developed and hosted in Switzerland, the app guarantees security and ease of use for its customers, deposits in CHF held with the Swiss National Bank (SNB). The multi-currency account (CHF, EUR, GBP, AED, and SGD), alongside the MasterCard World Elite card, allows for everyday financial transactions worldwide without being impacted by significant currency exchange fees on these currencies. The application also includes a digital concierge service designed to provide customers with the best possible leisure…

Adnovum und Squirro starten eine strategische Partnerschaft, um innovative Lösungen für die Banken- und Versicherungsbranche, für Transport- und Logistikunternehmen sowie für den öffentlichen Sektor anzubieten. Das Ziel der Zusammenarbeit ist es, mit den modernen Technologien von Squirro in den Bereichen künstliche Intelligenz (KI), Natural Language Processing (NLP) und Retrieval Augmented Generation (RAG) die digitalen Lösungen von Adnovum weiter zu verbessern. Damit entsteht eine leistungsstarke Synergie, die den dynamischen und sich verändernden digitalen Anforderungen der oben genannten Sektoren gerecht wird. Dr. Dorian Selz, CEO und Mitbegründer von Squirro, äussert sich begeistert über die Zusammenarbeit: «Die Partnerschaft zwischen Squirro und Adnovum ist ein…

On Wednesday, MEPs adopted new rules to ensure transferred funds arrive immediately into the bank accounts of retail customers and businesses across the EU. The new regulation aims to make sure that retail clients and businesses, especially SMEs, will not have to wait for their money, as well as to enhance the safety of transfers. Banks and other payment service providers (PSPs) will have to ensure credit transfers are affordable and immediately processed. The text, already agreed with EU member states, updates the current Single Euro Payments Area (SEPA) rules. Instant credit transfer An instant credit transfer is supposed to be executed regardless…

Sparkonti und Kassenobligationen bietet Cembra neu digital an. Die Bank nutzt dafür die Technologie der Open-Banking-Plattform Finstar. Zudem unterstützt die Hypothekarbank Lenzburg Cembra bei Servicedienstleistungen für die Kundenbetreuung. Die Eröffnung eines Sparkontos oder die Zeichnung einer Kassenobligation erfolgt bei Cembra neu auf digitalem Weg. Die börsenkotierte Schweizer Bank hat zu diesem Zweck Softwaremodule der Open-Banking-Plattform Finstar in ihr Banksystem integriert. Dies haben die Hypothekarbank Lenzburg und Cembra heute bekannt gegeben. Damit können neue Kundinnen und Kunden ab sofort ein Sparkonto bei Cembra digital eröffnen und auf Wunsch auch in Kassenobligationen mit Laufzeiten von zwei bis zehn Jahren investieren. «Dank unserer…

N26 announced the launch of a new Stock and ETF trading product that will allow all account holders to buy and sell stocks and ETFs for 0.90 EUR per trade, directly in the N26 app. The launch of this new and comprehensive trading product will see N26 continue to expand its offer beyond its digital bank accounts, bringing customers more solutions in savings and investments. With financial independence increasingly front-of-mind for all customers, a growing number of Europeans aspire to proactively build their wealth. N26 Stocks and ETFs aims to make managing and building one’s investment portfolio simple and accessible…

On 16th January, during the Davos Innovation Week hosted by World Innovation Economics Limited, a panel discussion was held on the above topic. The panel discussion was graced by Mr. Sanjeev Sanyal (Economic advisor to PM Modi), Mr. Phillip Weights (renowned Swiss banking leader), Mrs Efi Pylarinou (Swiss fintech influencer), Mr Ashok Ranadive (Ex Indian Navy, Ex Google, Entrepreneur and Investor). The panel discussed about UPI, Digital Public Infrastructure, India Stack 2.0, CBDC, Blockchain, Data privacy. All the panelists praised India’s rapid inclusive growth due to its robust digital public infrastructure, good governance and inclusive growth. Panel also discussed how…

Im Zuge der kontinuierlichen Weiterentwicklung hat sich die PSS AG, ein Vermögensverwalter mit Fokus auf digitale Geldanlage für freie Vorsorgegelder der Generation 50+, für einen neuen Firmen- und Markennamen entschieden. Ab sofort firmiert das Unternehmen als Finpact AG mit dem Claim «Meine moderne Geldanlage fürs Leben». Die Namensänderung spiegelt nicht nur die Entwicklung des Unternehmens vom Startup zum etablierten Finanzdienstleister wider. Sie bekräftigt auch den Anspruch, der Generation 50+ intuitive und zukunftsweisende Anlagelösungen für Kapitalbezüge, Erbschaften und Erspartes anzubieten. Die wachsende Bedeutung, die Bedürfnisse und das Nutzungsverhalten der Generation 50+ in Bezug auf digitale Anlage- und Vorsorgelösungen, untersucht eine neue…

Technology has long been a catalyst for positive change. From the printing press increasing literacy, to vaccines eradicating disease, to the internet connecting people across borders, humanity’s inventions have aimed to improve lives. FinTech is no different. Mobile payments bring financial services to the unbanked. Digital advisors make investing accessible to all. Blockchain allows to transfer monetary values in matter of seconds and digitalize ownership of almost any physical asset. The potential for technology to spread prosperity knows no bounds. Yet purpose must remain at the core. This is the Finyard mission. Without ethical guidance, technological progress can falter. Profit…

Generali Ventures is underway: the venture capital initiative launched by Generali to accelerate innovation, enter new markets and generate additional operating efficiencies for the Group. With a dedicated commitment of € 250 million, Generali Ventures will identify the most promising investment opportunities, with a particular focus on the insurtech and fintech sectors. Launched in 2022, after an in-depth analysis of over 100 venture capital funds, Generali Ventures has invested in three strategic initiatives: Mundi Ventures, specialized in insurtech technologies; Speedinvest, focused on start-ups in the early pre-seed and seed stages; and Dawn, focused on investing in B2B software solutions. The…

Fxview is proud to announce the strengthening of its partnership with the Cyprus National Karate Team for the World Karate Championships for Seniors in Budapest, Hungary, scheduled from October 24-29, 2023. This partnership deepens relations between the two sides following Fxview’s support to the Cypriot delegation earlier this year at the European Karate Championships held in Guadalajara, Spain in March. This initiative marks a notable shift from Fxview’s traditional financial role, underlining its unwavering dedication to community development beyond finance. In addition to financial support to the team, this partnership demonstrates Fxview’s commitment to the ideals of sports, embodying values…

B2B Fintech GenTwo was able to win Swissquote for its partner network. With this, GenTwo continues to strengthen its unique financial engineering network. Swissquote, known as the first online bank in Switzerland, has joined a growing list of partners on GenTwo’s platform, further enhancing the company’s offering in the market. The partnership brings significant benefits to both companies and their clients. Swissquote clients now have access to GenTwo’s services, allowing them to create Actively Managed Certificates (AMC) in collaboration with Swissquote across a wide range of assets, including traditional equity, foreign exchange, derivatives, structured products, commodities, and digital assets. This…

Upvest, a Berlin-based fintech company providing the trading, settlement and custody infrastructure necessary for digital wealth management in one application programming interface (API), is partnering with BlackRock to make investing more accessible. ‍Partnership to complement strengths BlackRock’s broad asset management expertise and leadership in ETFs combined with Upvest’s efficient investment API can power investment offerings for millions of investors. Wealth managers, banks and fintechs can build modern investment experiences in months instead of years, relying on Upvest’s efficient, low-friction API based infrastructure offering. Upvest’s offering will remain an open architecture. As part of the partnership, BlackRock participated in Upvest’s €30m…

The fintech industry continues to innovate and break the stereotypes of traditional financial services. Therefore, the issue of the need for cybersecurity has never been as acute as it is now, Sergey Kondratenko notes. In addition, fintech firms manage sensitive customer data and financial activities, making them attractive targets for scammers. What are the current trends and problems of cybersecurity in the fintech industry, how to protect customer data in modern conditions and maintain their trust in the digital financial ecosystem? Sergey Kondratenko is a recognized specialist in a wide range of e-commerce services with experience for many years. Now,…