Author: Fintechnews Switzerland

This summer, Switzerland has witnessed significant strides in its fintech sector, including the launch of instant payments, progress in the exploration of central bank digital currencies (CBDCs), and regulatory updates. In this article, we provide an overview of these recent advancements, focusing on fintech innovations, regulatory changes, and evolving market dynamics, such as the growth of sustainable fintech and current funding challenges. Instant payments launches in Switzerland On August 20, 2024, Switzerland officially launched instant payments, marking a significant development in the modernization of the country’s financial sector. Around 60 financial institutions are now able to receive and process instant…

Instant payments were launched in the Swiss market on 20 August 2024. Around 60 financial institutions are now able to receive and process instant payments, covering more than 95% of Swiss retail payment transactions. By end-2026 at the latest, all financial institutions active in retail payment transactions will be reachable. The first institutions have already launched retail offerings enabling customers to send instant payments. In the coming months, further banks will announce similar services. Instant Payments are 24/7  including Weekends Instant payments allow private individuals and companies to perform account-to-account transactions with immediate execution and final settlement in seconds –…

Relio bietet neu digitale Kapitaleinzahlungskonten an, die Geschäftskunden online eröffnen können. In einer Pilotphase profitierten rund 50 Startups von der einfachen und schnellen Kontolösung für die Unternehmensgründung. Der neue Service erweitert das bestehende Angebot von Relio, das bisher operative Geschäftskonten umfasste. Relio verfügt über eine FinTech-Lizenz der FINMA und wird von namhaften Investoren wie der SIX Group, Betreiberin der Schweizer Börse, der TX Group, Eigentümerin von Tamedia, und dem High-Tech Gründerfonds (HTGF), einem der grössten deutschen Tech-VCs, unterstützt. Der neue Weg zur digitalen Unternehmensgründung Die Schweiz ist ein attraktiver Innovationsstandort mit über 50’000 Unternehmensgründungen im Jahr 2023. Doch der Enthusiasmus,…

Ab heute können Instant-Zahlungen bei der Hypothekarbank Lenzburg kostenlos gesendet und empfangen werden. «Wir sind überzeugt, dass die neue Technologie grosses Potenzial hat», sagt Bank-CEO Silvan Hilfiker. Was in vielen europäischen und asiatischen Ländern schon fast normal ist, kommt nun auch in die Schweiz. Ab heute ist bei ausgewählten Banken der neue Überweisungsstandard Instant-Zahlung möglich. Alle grösseren Banken sind verpflichtet, ab heute Geldtransaktionen innerhalb von zehn Sekunden empfangen zu können. Das Versenden von Instant-Zahlungen wird hingegen nur von einigen wenigen Banken angeboten und ist teilweise gebührenpflichtig. Die Hypothekarbank Lenzburg hingegen hat entschieden, Instant-Zahlungen kostenlos anzubieten. Kundinnen und Kunden profitieren in…

The insurtech industry has witnessed a significant resurgence in 2024, with funding volume rising 44% in Q2 2024, the first initial public offerings (IPOs) since 2022 and a surge in deal activity across Europe, new data released by market intelligence platform CB Insights show. The “State of Insurtech Q2 2024 Report,” released on August 06, offers an overview of the global insurtech landscape, focusing on equity funding activity in Q2 2024. The report highlights key investment trends, geographic activity, and exit activity during the quarter. In Q2 2024, global insurtech funding outpaced the growth seen across the broader venture and…

Die Weltstadt New York City gilt schon seit langem als eine der Top-Adressen für Fintech-Unternehmen. Insgesamt sind mehr als 1.000 Fintech-Startups in New York City ansässig, von denen mindestens 20 den Status eines Unicorn (Einhorn) erreicht haben. Zu den am schnellsten wachsenden Unternehmen gehören Kryptowährungs- und Blockchain-Unternehmen, deren Zahl seit 2016 um stolze 106 % gestiegen ist. Doch mit San Francisco und London gibt es auf weltweiter Bühne ebenso starke Konkurrenz, die oftmals um die gleichen Investoren buhlt. New York City verfolgt deswegen eine klare Strategie, um sich weiter als Zentrum für Fintech zu etablieren. Förderung der nächsten Generation von…

Apple is transitioning from a technology company to a key player in the fintech sector, driven by its diverse financial products, strategic initiatives and use of cutting-edge technologies. A new analysis by C-Innovation, a French fintech-focused research firm, discusses the firm’s growing role in the financial services industry, delving into its range of financial products, recent strategic moves, and potential growth driven by the adoption of artificial intelligence (AI). Apple’s financial services ecosystem The report, released on July 17, explores how Apple has emerged as a leading force in the financial services industry with products like Apple Pay and Apple…

The European Union (EU) lags behind the US in the development and strength of its venture capital (VC) industry. This weak VC landscape is not only stifling productivity and economic growth within the EU but also hindering the bloc’s environmental ambitions and global competitiveness, a new working paper by the International Monetary Fund (IMF) says. The paper, titled “Stepping Up Venture Capital to Finance Innovation in Europe” and released in July, examines the current state of the VC industry in the EU, highlighting the main obstacles to its development. It argues that building a robust and advanced VC ecosystem is…

The spread of global e-commerce businesses is one of the defining aspects of the modern world. The data speaks for itself: in 2023, worldwide e-commerce reached an immense 5.8 trillion U.S. dollars (source: Statista) in sales. That’s why choosing a payment gateway that meets specific business requirements and securely handles sensitive customer data is a top priority for any e-commerce business. In collaboration with FYST, a leading-edge fintech powerhouse of customized and secure payment solutions, let’s review 6 key factors to keep in mind while choosing a payment gateway for your online business. What is a payment gateway and how…

Following a short pilot phase, Coop has decided to no longer act as the operator of the Finance+ platform, as the demand did not meet expectations. Furthermore, Coop informed that the environment has changed as a result of increased competition in the financial sector in recent months. As one of several Finance+ partners, Coop will be withdrawing from the project. The exact date has not yet been determined. Glarner Kantonalbank also announced to withdraw from the project. Coop claim to guarantees the continued operation of the Finance+ platform until further notice and will provide all services to their full extent.…

Cryptocurrencies are increasingly being integrated into traditional finance, driven by both retail and institutional interest. Financial institutions are embracing tokenization and institutional investors are increasingly entering the cryptocurrency market. Bitcoin, in particular, is emerging as a valuable diversification tool in wealth management, highlighted for its low correlation with traditional asset classes and its strong growth performance, a new report by Bitcoin Suisse, a Swiss crypto services provider, says. The inaugural “Crypto Wealth Management Report”, released in July 2024, looks at the historic performance of bitcoin, showcasing the crypto’s position as a potential powerhouse within diversified portfolios. The report explores the…

Ant International, the global arm of China’s Ant Group, is expanding its presence in Europe by partnering with fintech companies and financial institutions to grow its merchant network, and sponsoring major sports events to grow brand recognition. In a recent interview with FXC Intelligence, a data platform for cross-border payments, Douglas Feagin, president of Ant International, shared ambitious plans to expand the Alipay+ network in Europe with more digital wallets, banking institutions and merchants. Additionally, Ant International aims to strengthen the European presence of its other brands, including Ant to Merchant (Antom) and WorldFirst, promising enhanced access to the Asian…

Swiss fintech startups are losing favor with investors. In H1 2024, investments in fintech startups in Switzerland fell by 58.5% year-on-year (YoY), plummeting from CHF 191 million in H1 2023 to CHF 79.2 million in H2 2024, according to the new Swiss Venture Capital report. The number of financing rounds also saw a significant drop, declining from 30 in H1 2023 to just 13 in H1 2024, marking a 56.7% decrease. The half-year 2024 update to the Swiss Venture Capital Report, released on July 16, reveals that fintech funding continued to decline in H1 2024, despite notable rounds like Sygnum…

The Swiss Financial Market Supervisory Authority (FINMA) has published new guidance on the issuance of stablecoins. This guidance emphasizes the financial market laws that apply to projects aiming to issue stablecoins, including anti-money laundering (AML) regulations and minimum requirements for default guarantees. The new FINMA guidance, released on July 26, 2024, addresses the questions frequently arising regarding the issuance of stablecoins in Switzerland. It builds on an initial notes from 2019 that outlines how the regulator treats stablecoins under Swiss supervisory law. The document defines stablecoins as a type of cryptocurrency designed to be a low-volatility means of payment on…

Invest Hong Kong (InvestHK) has opened applications for the 7th edition of its fintech programme Global Fast Track (GFT) 2024, accepting submissions until 20 September. The programme invites fintech companies from both local and international markets to pitch their ideas on global platforms, offering mentorship and business matchmaking to help unlock their potential. The global finalists of the GFT’s pitching competition will compete in the grand finale at Hong Kong Fintech Week (HKFW). This year’s programme includes new features aimed at strengthening Hong Kong’s position as the premier international fintech hub. King Leung, Global Head of Financial Services, Fintech and…

The financial sector is on the edge of a major transformation powered by continuous technological advancements. At the recent Huawei HiFS Frontier Forum 2024 in Shenzhen, industry leaders discussed how cloud, network, storage, and computing infrastructures can strengthen financial systems’ resilience. The forum’s theme, “Boost Resilience, Reshaping Smarter Finance Together,” encapsulates the industry’s collective ambition to navigate the challenges of an uncertain future through technological excellence and collaborative innovation. This gathering comes at a pivotal moment. Traditional banking boundaries are dissolving, and the definition of financial services is evolving unprecedentedly. The imperative for digital transformation As we hurtle towards 2030,…

The proliferation of technology in modern business has created new avenues for financial statement fraud, but it has also provided sophisticated tools to detect and prevent such fraud. Artificial intelligence (AI) approaches, in particular, have the potential to be more efficient and accurate in identifying fraud, especially new schemes that traditional methods might miss, according to a recent article by Karina Kasztelnik, PhD, and Eva K. Jermakowicz, PhD, CPA, from the Tennessee State University in Nashville. The article, published in June, explores the evolving landscape of financial statement fraud detection, emphasizing the role of AI in enhancing the accuracy and…

Eurex expands its crypto derivatives portfolio with the launch of FTSE Ethereum Index Futures and Options as of 12 August 2024. Following the launch of FTSE Bitcoin Index Futures and Options in 2023, this is another major milestone in Eurex’s ambition to offer secure access to cryptocurrencies in a regulated market environment. Ethereum is the second largest cryptocurrency with a market capitalization of approximately USD 400 billion. There is significant trading and hedging demand from institutional and professional customers, as reflected in record trading volumes in derivatives and other investment products. The new options and futures are listed in EUR…

Securing funding without giving up equity is a strategic approach that allows startups to maintain full control over their company while obtaining necessary financial support. In Switzerland, several methods and programs are available for fintech startups seeking financial support that does not require repayment or equity exchange. One method is competitions and awards. Many organizations host competitions that award cash prizes or resources to winning startups, providing financial support and recognition without equity dilution. These competitions can be either online or in person, and the funds won typically do not require repayment or equity exchange, although there can be exceptions.…

Yuh lanciert 6 ETF-Sparpläne ohne Trading-Gebühren und bietet somit nun ein ähnliches Angebot an wie Neon. Die Auswahl an ETFs für die kostenlosen Sparvarianten ist bei beiden Banken jedoch nach wie vor sehr beschränkt, trotzdem grenzen sich die beiden Neobanken damit klar von der teueren Konkurrenz ab. Sie erlauben das automatisch wiederkehrende Investieren in ETFs ohne Trading- oder Depotgebühren. Lediglich die staatliche Stempelgebühr fällt zusätzlich zu den TER-Kosten der ETFs an. Die gebührenfreien ETF-Sparpläne sind bei Yuh für folgende sechs Fonds verfügbar:  iShares SMI ETF (CH) iShares MSCI World CHF Hedged UCITS ETF (Acc) Vanguard FTSE All-World UCITS Vanguard FTSE…