Credit Suisse’s digital bank offering CSX has been named the best-known Swiss brand for digital banking in Switzerland a year after launching.

According to independent market research, nearly half of the Swiss population is familiar with the CSX brand name, a statement from Credit Suisse said.

The brand was launched in October 2020, and has since seen positive levels of client activity, uptake of products and services amongst the younger demographic, and deposited assets.

The number of downloads of the online banking app have tripled since launch, while account openings in Switzerland have doubled.

Meanwhile, half of CSX’s 100,000 clients are under the age of 34. CSX clients execute one transaction per day on average, and around half use CSX as their salary or primary bank account.

CSX currently holds a total asset volume of over CHF 1 billion.

The company said the clients were involved continuously in the product development process.

Since October 2020, new services, functionalities and strategic partnerships have been added as well.

The CSX product suite has been expanded to include CSX Financial Plan, CSX Invest, CSX Pension, CSX Mortgage (including API-integrated insurance solutions from third-party providers), and CSX Credit.

Credit Suisse is looking to add more features in the coming months, including account/credit card offers, rental deposits, and a platform for buying and selling properties.

“We are delighted to gain confirmation from our clients that CSX is a future-oriented solution that addresses their needs and makes a relevant contribution to the development of digital banking in Switzerland. We have only just begun and will be expanding our offering on an ongoing basis. This encouraging picture one year after the launch is therefore all the more pleasing,”

said Anke Bridge Haux, Head of Digital Banking at Credit Suisse.

Featured image: Credit Suisse