Author: Fintechnews Switzerland

The Deutsche Bundesbank has become a member of Project Guardian, a global initiative led by the Monetary Authority of Singapore (MAS) that explores the use of asset tokenisation in financial markets. As the German member of the Eurosystem and the monetary authority for Germany from 1957 to 1998, the Bundesbank brings its expertise to the project. Launched in May 2022, Project Guardian brings together policymakers and key financial industry players to improve market liquidity and efficiency through the innovative use of technology. The Bundesbank will participate in various pilot projects testing specific use cases for asset tokenisation, exploring its feasibility…

Cross-border payments often lead to delayed settlements.  As a result, this creates a fragmented view of liquidity positions for companies. The aim is to increase transparency and security with blockchain-based payments via UBS Digital Cash which should in turn facilitate timely payment processing. In addition, companies should be able to manage intraday-liquidity and adjust liquidity buffers on their accounts more easily in the future, thanks to greater visibility of their total cash positions. Andy Kollegger, Head UBS Institutional & Multinational Banking, says: ”UBS Digital Cash going forward aims to enable our clients to make cross-border payments in a much more…

Digitale Arbeitsplatztools verändern die Art und Weise, wie Fintech-Experten (Financial Technology) zusammenarbeiten und ihre Produktivität steigern. In einer zunehmend vernetzten und schnelllebigen Branche sind diese Tools wichtig, um wettbewerbsfähig zu bleiben. Durch die Implementierung der richtigen Softwarelösungen können Fintech-Unternehmen ihre Kommunikation verbessern, Projekte effizienter verwalten und die Flexibilität ihrer Mitarbeiter erhöhen. Vorteile digitaler Arbeitsplatz-Tools Digitale Arbeitsplatz-Tools ermöglichen eine nahtlose Verbindung zwischen Teammitgliedern, unabhängig von ihrem Standort. Dies fördert eine effiziente Zusammenarbeit und erleichtert den Informationsaustausch. Mitarbeiter können von überall aus auf benötigte Ressourcen zugreifen und ihre Aufgaben erledigen. Diese Flexibilität trägt zu einer besseren Work-Life-Balance bei und steigert die Mitarbeiterzufriedenheit.…

Jumio, a provider of AI-powered identity verification solutions, has partnered with LatticeFlow AI. The partnership aims to improve the safety, fairness, and reliability of Jumio’s AI models, aligning with its goals for compliance under emerging regulations. This collaboration will enable Jumio to proactively address potential issues, validate its AI models, enhance performance, and strengthen fraud prevention capabilities, particularly in preparation for the upcoming EU AI Act. By integrating LatticeFlow’s advanced computer vision technology, Jumio aims to strengthen its platform and ensure compliance with the Act’s strict regulations. “We are honored to partner with Jumio to help advance the performance and…

Kaspersky Global Research has uncovered a malicious global campaign in which attackers used Telegram to deliver Trojan spyware, potentially targeting individuals and businesses in the fintech and trading industries. The malware is designed to steal sensitive data, such as passwords, and take control of users’ devices for espionage purposes. The campaign is believed to be linked to DeathStalker, an infamous hack-for-hire APT (Advanced Persistent Threat) actor offering specialized hacking and financial intelligence services. In the recent wave of attacks observed by Kaspersky, threat actors attempted to infect victims with DarkMe malware – a remote access Trojan (RAT), designed to steal…

UBS Asset Management has launched its first tokenised investment fund, the “UBS USD Money Market Investment Fund Token” (uMINT), built on Ethereum’s blockchain. This token offers investors access to institutional-grade cash management solutions backed by high-quality money market instruments within a conservative, risk-managed framework. The launch is part of UBS’ strategy to use blockchain for better fund issuance and distribution. UBS recently piloted a tokenised Variable Capital Company (VCC) fund in October 2023 as part of its involvement in the Monetary Authority of Singapore’s Project Guardian. The firm has also issued CNH 200 million in digital structured notes in June 2023 and completed…

Der Online-Vergleichsdienst moneyland.ch hat die Kosten von digitalen Vorsorgelösungen der Säule 3a untersucht. Das Ergebnis: Vorsorge-Apps sind meist deutlich günstiger als klassische Vorsorgefonds. Vorsorge-Apps sind in der Schweiz seit einigen Jahren etabliert und überzeugen immer mehr Vorsorgenehmerinnen und Vorsorgenehmer. Für die Säule 3a und die 2. Säule (Freizügigkeit) werden laufend neue digitale Vorsorgelösungen lanciert, während andere bereits wieder verschwunden sind. Ähnlich wie bei den digitalen Vermögensverwaltern setzen sich die Kosten der Vorsorge-Apps im Wesentlichen aus zwei Komponenten zusammen: den Pauschalgebühren und den Produktkosten. Bei einigen Apps sind die Produktkosten in den Pauschalgebühren enthalten. Bei anderen Apps ist es genau umgekehrt und es werden nur…

Global fintech funding continued to decline in Q3 2024, falling by 25% quarter-over-quarter (QoQ) to US$7.3 billion, according to CB Insights’ State of Fintech Q3 2024 report. Total deals also dropped, with the number of transactions falling 16% QoQ to 753 to reach its lowest quarterly level since 2017. This represents a sharp contraction from Q3 2022 during which 1,500 deals were recorded, underscoring the steep drop in funding activity in the sector over the past two years. Fewer deals but larger transactions Although the number of fintech deals declined, the average deal size remained roughly flat year-to-date (YTD) at…

LSEG Risk Intelligence has announced the launch of two new products designed to enhance financial security and drive operational efficiencies on a global scale. Global Account Verification checks payee and account details match before transfers are confirmed. Document and Biometric Verification uses AI and deep learning to conduct identity checks with outstanding accuracy. Both products will help organizations, including multinational corporations, financial institutions and fintechs, defend their businesses and protect customers from increasingly sophisticated fraud techniques, while streamlining payment and identity verification workflows. Global Account Verification  to tackle Authorized Push Payment fraud Payment fraud is high on the agenda with…

In Switzerland, the adoption of embedded finance is growing rapidly, with 76.3% of consumers having used banking services integrated into non-financial apps and platforms, according to a study by tech consultancy Synpulse. This data, collected from a survey and interviews with 1,026 consumers and more than 70 industry stakeholders between October 30, 2023, and April 27, 2024, reflects high adoption across major consumer groups. The report, released in September 2024, reveals a clear correlation between digital skills and the likelihood of using embedded finance services, with higher digital skills being associated with higher usage rates and lower rejection rates. Among…

Over the next five years, instant payments are set to catalyze a complete transformation of payments and banking, ushering in a truly digital service model. According to a new report by banking tech provider FIS, this shift will present significant challenges to banks, requiring them to reinvent their operations and update their systems to manage soaring transaction volumes. However, it will also open the doors to new opportunities through innovation and product development. In a new report released on October 09 and produced in collaboration with Payments Cards and Mobile, FIS examines the instant payments revolution, exploring how it will…

Hacks targeting the Web3 sector have decreased significantly over the past years, reaching their lowest level in three years. According to a new report by Hacken, a blockchain security auditor, in collaboration with crypto compliance security and monitoring platform Extractor, only 28 incidents targeting Web3 projects were recorded in Q3 2023, marking a notably decline from 41 the prior quarter. The total value of stolen assets has also been falling steadily, declining 10% quarter-over-quarter (QoQ) to US$464 million in Q3 2024. Released on October 04, the report provides an analysis of the current security landscape in Web3, highlighting improved Web3…

The European Banking Authority (EBA) published a Decision setting out the procedural aspects related to the significance assessment of asset-referenced tokens (ARTs) and e-money tokens (EMTs) and the transfer of supervisory responsibilities, including the establishment of supervisory colleges for significant ARTs (s-ARTs) and significant EMTs (s-EMTs). The Markets in Crypto Assets Regulation (MiCAR) sets out a new supervisory regime for ART and EMT issuers, which includes significance assessments and reassessments of ARTs and EMTs by the EBA, transfer of supervisory responsibilities from national competent authorities to the EBA and the establishment of supervisory colleges for s-ARTs and s-EMTs. In its Decision,…

Projekt Interim, ein Anbieter von Zwischennutzungen in der Schweiz, gibt eine Kooperation mit der AXA Schweiz bekannt. Dank der Zusammenarbeit müssen Zwischennutzerinnen und Zwischennutzer ab sofort keine Mietkautionen mehr hinterlegen. Stattdessen sind sie über einen Kollektivvertrag bei der AXA Schweiz versichert, welche eine Bürgschaft für den Schadensfall übernimmt. Projekt Interim ist die erste private Immobilienverwaltung in der Schweiz, die dieses Modell nutzt. Die Kooperation mit der AXA ermöglicht es Projekt Interim, den Zwischennutzern eine Alternative zu traditionellen Mietkautionen zu bieten. Dies ist besonders vorteilhaft für Kleinunternehmer, Kulturschaffende, Start-ups und Forschende, die oft mit begrenzten finanziellen Ressourcen arbeiten müssen. Durch den…

Twelve Swiss companies representing various aspects of the Swiss financial system will participate in the Singapore Fintech Festival 2024 (SFF 2024), held from 6 to 8 November at the Singapore Expo. This marks the eighth year of Swiss presence at the festival, organized under the Swiss Pavilion by Switzerland Global Enterprise (S-GE) and the Swiss Business Hub South East Asia + Pacific. The Swiss delegation aims to demonstrate the strengths of their fintech industry, emphasizing Switzerland’s reputation for trustworthiness, quality, and innovation. SFF 2024 will focus on six key themes, including the Roadmap for AI & Quantum, Blueprint for Digital…

Swissquote announced the launch of its new fractional trading feature, along with a new “Saving Plan” order type. These innovations are designed to meet the growing demand for flexible and affordable investment options, enabling investors to build a diversified portfolio over time, regardless of their budget. In today’s market, many investors seek the possibility to invest smaller amounts across a broad range of assets, spreading risk and enhancing potential returns. Until now, Swissquote’s platform supported only the trading of full shares, which limited clients to strategies constrained by share prices rather than their available cash. This new feature allows investors…

Artificial intelligence (AI) is taking center stage in banks’ digital transformation plans as financial institutions seek to improve customer experiences and operational efficiencies. According to a new study conducted by Publicis Sapient, a leading American digital consulting company, banks are spending 29% of their investments in customer experience digital transformation on machine learning (ML), AI and generative AI (genAI). Banks are also placing AI as their biggest focus for digital transformation over the next three years. These findings come from the Global Banking Benchmark Study 2024, which surveyed more than 1,000 senior retail and commercial banking leaders in early 2024.…

In Switzerland, financial institutions are increasingly recognizing the long-term potential of blockchain and integrating the technology into their growth strategies. According to a new study by the University of St. Gallen, in collaboration with vision& and mintminds, more than 80% of Swiss banks are either planning to develop and actively expanding their blockchain offerings, with a particular focus on cryptocurrencies. Conducted between April to June 2024, the study polled 19 banks in Switzerland, including retail (47%), private banks (37%), universal (11%) and investment banks (5%) to understand the blockchain strategies, priorities, and challenges these institutions face as they integrate blockchain…

Das Schweizer Fintech Relio, das als Anbieter von Geschäftskonten mit Schweizer IBAN bekannt ist, lanciert internationale Transaktionen, Fremdwährungen (FX) und Multi-Währungs-Konten. Der erweiterte Service profitiert von der fortschrittlichen AML- und Compliance-Technologie von Relio, welche das Monitoring von Transaktionen anhand von über 100 Datenpunkten auf jeden Kunden zuschneidet und so einen reibungslosen und effizienten grenzüberschreitenden Zahlungsverkehr gewährleistet. Globales Business, Schweizer Zuverlässigkeit. Vor einem Jahr lancierte Relio, als eines von nur fünf Instituten mit einer Fintech-Lizenz der FINMA, voll digitale Geschäftskonten für Freelancer, KMU, Start-ups und Firmenkunden. Dieses Angebot umfasste Schweizer IBANs und CHF-Konten für Inlandszahlungen. Nun erweitert Relio seine Funktionen mit…

Swiss retail banks expect technology to increase competition but not as dramatically as anticipated. A new study by auditing and consulting firm EY, in collaboration with the University of St. Gallen, reveals that while incumbents are aware that bigtechs, neobanks and fintech companies are driving innovation, they remain confident that their ability to maintain strong customer relationships and deliver high-quality advice will help them retain a competitive edge. The “Retail Banking 2035” report, released in September 2024, shares insights from 33 retail banks in Switzerland on ten key areas thesis about the future of retail banking. It identifies the most…