The rapid development of fintech around the world is leading to significant shifts in the global financial industry and forcing banks and financial institutions to rethink their growth strategies.

Compared to leading fintech hubs such as London and Silicon Valley, Switzerland is still behind expectations in regards to fintech. Yet, Switzerland’s financial center offers a promising starting point for fintech ventures, supported by a government that’s been pushing for financial innovation and new regulations intended to provide more clarity and confidence.

Switzerland’s fintech startup scene is growing steadily, with now 207 startups tackling various segments such as payments, crowdfunding, data analytics, insurance, and investing, according to Swisscom’s Swiss Fintech Startup Map.

Today, we look at six new entrants that are worth keeping an eye on. (You can submit your own startup here.

Modum

Modum develops systems to improve supply chain processes. The company combines Internet-of-Things sensor devices with blockchain technology to provide data integrity for transactions involving physical goods.

Modum’s sensors record environmental conditions while the physical products are in shipment. When a change of ownership occurs, the collected data is checked against the specific smart contract in the Ethereum blockchain. This contract validates whether the transaction meets all of the standards promised by the sender to the client and the regulator and then triggers appropriate actions such as notifications to the sender, confirmation of payments or release the goods.

PriceHubble

PriceHubble, a proptech startup, leverages Big Data technology to make valuations and predictions, allowing customers to make better-informed real estate decisions. Its technology collects large volumes of multidimensional data to deliver actionable, easy to read and visually appealing insights.

PriceHubble focuses on international real estate markets, and integrates top academic and industry experience in machine learning, computer science, econometrics, mathematics, statistics, financial services and consulting.

FirstYou24

FirstYou24, an insurtech startup, has developed the Insurance-Auction-Technology, called I.A.T., which allows it to offer users a unique way of managing their insurance policies and provide the world’s first auction platform for insurance policies.

The platform lets users administer their insurance policies online and profit from lower insurance policy rates. For insurance firms, it gives them access to new customers.

FirstYou24 is only available in the Swiss market, but plans to expand to Germany and Austria in the near future.

Finform

Finform, a joint venture of AXON IVY AG and PostFinance AG, standardizes, industrializes and digitalizes compliance formalities. The company has developed a modularly designed solution to allow clients to use it in all sales channels, for instance front-end, mobile or online. It supports rapid adaptation to new regulatory requirements and technical developments, and allows for uncomplicated custom configuration.

Finform combines software and services to ensure efficient processing. Complex cases which cannot be automated by the Finform application are dealt with by the company’s specialists in real-time.

Carbon Delta

Carbon Delta is an environmental fintech startup that produces equity research focused on identifying and analyzing the climate change resilience of publicly traded companies.

The company has developed a proprietary evaluation system that exposes climate risks in the financial markets, enabling companies to protect assets, optimize performance and reach sustainability goals, while helping investors assess climate risks in their portfolios.

Carbon Delta currently focuses on risks related to regulations, technology, extreme weather, climate trends and the Paris Agreement’s 2°C target.

Tradeplus24

Tradeplus24 provides insurance and receivables financing solutions to the Swiss market.

In particular, the company offers trade credit insurance policy to protect small and medium-sized enterprises (SMEs) against non-payment of their global invoices. It also provides a finance facility to support SMEs with both working and growth capital.

Tradeplus24’s loans are backed by SMEs’ invoices and a Basel III compliance non-payment policy provided by the company’s insurer.