Scalable Capital launches in Switzerland
Gruetzi mitenand! The UK-based robo advisor is in an Alpine arrival.
Switzerland
PostFinance has crack at Swiss jackpot with new chatbot
Sprechen Sie Deutsch? Switzerland’s PostFinance has unveiled a German language virtual assistant on its website – generating automatic replies to customers’ most frequently asked questions. PostFinance, keen to tap into the fintech zeitgeist for artificial intelligence (AI), says it’s the “first Swiss financial institution” to launch such a chatbot. It was developed by the IT […]
PoC-ketful of fintech pinnacles for Kickstart Accelerator
Fintech is running like clockwork in Switzerland as over 30 proof of concepts (PoCs) and partnerships have been secured at Zurich-based Kickstart Accelerator’s tech programme. The accelerator – an initiative of digitalswitzerland and operated by Impact Hub Zurich – saw 29 start-ups as well as an intrapreneur team from AXA Winterthur and Swisscom working in […]
Raiffeisen Switzerland sheds its stake in core banking tech vendor Avaloq
Raiffeisen, the third largest banking group in Switzerland, is selling its 10% stake in core banking tech vendor Avaloq to private equity firm Warburg Pincus.
Edmond de Rothschild live with new core banking system, Avaloq Banking Suite
Banque Privée Edmond de Rothschild (EDR) has gone live with a new core banking platform for its Swiss operations, Avaloq Banking Suite, supplied by Avaloq.
Falcon plans to feather more nests with new digital platform
Zurich-based Falcon Private Bank has unveiled a new digital platform, Falcon Pulse, as it looks to boost its ambitions in wealth management. Main features will include an algo trader that daily rebalances a portfolio’s asset allocation to “optimise” performance as well as an idea generating tool that will screen market information to offer the “best […]
Luxoft Financial Services acquires Unafortis for new global Avaloq practice
Luxoft Financial Services is moving into the Avaloq implementation and consulting business with the acquisition of Unafortis, a Swiss wealth management consultancy firm.
ERI and Swisscom team for hosted core banking tech and ops
Switzerland-based core banking software provider ERI has joined forces with another domestic IT firm Swisscom to offer private-banking and wealth management outsourcing services to banks and financial institutions operating in the Swiss financial centres.
The end of IBIS3G core banking system?
Berner Kantonalbank (Banque Cantonale de Berne or BEKB/BCBE), one of the last users of the IBIS3G core banking system, is pondering the system’s future as the contract with system provider is terminated.
Falcon Private Bank flies into blockchain asset management nest
Falcon is the “first” Swiss private bank to provide blockchain asset management solutions for its clients through a new co-operation with crypto financial broker Bitcoin Suisse. The bank’s clients can exchange and hold Bitcoins via Falcon using their cash holdings. Additionally, a Bitcoin ATM has been installed in the lobby of the bank’s headquarters in […]
Vontobel pioneers SIX Securities Services’ Advanced Settlement solution
Swiss wealth manager Vontobel has become the first taker of SIX Securities Services’ Advanced Settlement offering.
Vontobel in digital banking transformation with Appian
Appian, a US-based provider of low-code application platform, says it has been enlisted by Vontobel Bank “to execute its digital transformation strategy across all business divisions”.
Concardis brings Alipay to Austria and Switzerland
German payment service provider Concardis is bringing Chinese mobile payment solution Alipay to Austria and Switzerland. Clothing brand Gössl will be the first merchant in Austria to let Chinese citizens pay via smartphone and the Alipay app. The roll-out in the Swiss market is planned for October this year. In Germany, Concardis says it has […]
Double Swiss bliss for Finnova banking software
Switzerland-based Finnova’s service partner InCore Bank has migrated private banks Arner Bank and Bank von Roll to its private banking hub. The hub now has 16 financial institutions, making it Switzerland’s “largest multi-tenant tower” based on Finnova Banking Software. InCore is a transaction bank which operates within the Swiss and Liechtenstein markets, and offers business […]
SIX and Credit Suisse play same game with ATM software launch
SIX and Credit Suisse have unveiled ATMfutura – a cash dispenser which displays the same user interface and guidance on all ATMs in Switzerland. SIX and its partners were commissioned by Swiss banks to develop the centralised multivendor software and it is planned to function on all bank ATMs in the alpine nation from 2018. […]
Switzerland’s Hypothekarbank Lenzburg goes open banking
Switzerland’s Hypothekarbank Lenzburg is opening up its Finstar core banking system to fintech firms with the use of APIs. The bank has signed an agreement with German software firm NDGIT, which supplies the APIs, and the implementation at Hypothekarbank Lenzburg will be completed by the end of May. Once implemented, its data and services will […]
Schweizerische Mobiliar Asset Management moves to Profidata Xentis
Bern-based Schweizerische Mobiliar Asset Management has implemented Profidata’s Xentis investment management system for its insurance, pensions and fund management businesses. Profidata, which is also based in Switzerland, says it was a “challenging project” to roll out the system within a time frame of 17 months. Xentis replaces various legacy applications, “makes several interfaces redundant and […]
FIS sheds Ambit Private Banking core software business
FIS has sold its Swiss core banking software business, Ambit Private Banking, which it inherited with the acquisition of Sungard, to New Access Banking Software.
SIX teams with DTCC to issue legal entity identifiers in Switzerland
SIX Securities Services, which runs the central securities depository (CSD) for Switzerland, is partnering with the Depository Trust & Clearing Corporation (DTCC) to offer legal entity identifiers (LEIs) for Swiss entities. According to SIX, LEIs were devised to provide insight into corporate entities with the aim of reducing cross-platform risk exposure. By providing LEIs together, […]
Axion Swiss Bank live with Avaloq Banking Suite
Axion Swiss Bank has fully replaced its legacy tech – ERI’s Olympic core banking system – with Avaloq Banking Suite.
SIX picks IBM Watson for cybercrime fight
SIX Securities Services, Switzerland’s post-trade market infrastructure, will use IBM Watson for its new cognitive security operations centre (SOC). The new facility will be housed at SIX’s offices in Switzerland to provide localised cybersecurity services “tailored to the needs of the region”. Robert Bornträger, division CEO SIX global IT, says IBM is a “logical partner” […]
SIX Securities Services unveils blockchain based bond issuing solution
SIX Securities Services, Switzerland’s post-trade market infrastructure says it has developed – “and intends to deploy” – a new bond issuing solution based on the distributed ledger technology (DLT).
WIR Bank launches new payment card for SMEs in Switzerland
Switzerland-based WIR Bank has launched a new payment card for domestic SMEs, with tech provided by SIX Payment Services. It combines the existing functions of the proprietary WIRcard and internationally accepted Visa’s V PAY debit card.
Switzerland to amend banking rules to become fintech-friendly
Switzerland’s Federal Council has issued a consultation paper on amendments required to its Banking Act and Banking Ordinance, to create an environment that helps fintech start-ups thrive in the country.
Mystery surrounds Postfinance online banking outage
Postfinance, the fifth largest retail financial institution in Switzerland, has suffered a 24-hour outage on its online banking service – and doesn’t know the exact cause. About 1.7 million customers were affected by a total loss of electronic banking on Sunday and Monday morning (8/9 January). On Monday afternoon, things were back to normal as […]
SIX Payment Services completes Swiss Post payment terminals upgrade
SIX Payment Services says it has completed the enterprise-wide upgrade of payment terminals of Swiss Post four months ahead of schedule. The new “smart” payment terminals – Ingenico’s iSC250 – are “particularly good” and “among the most innovative ones on the market”, SIX says.
Arab Bank Switzerland ditches FIS/Sungard core system for Avaloq BPO
Arab Bank (Switzerland), a private bank in Geneva, has signed a long-term deal with Avaloq for the vendor’s complete business process outsourcing (BPO) services.
Swiss plan lighter regulations to seduce fintech firms
If you reduce it, they will come. Swiss ministry officials want to entice fintech firms and boost competition with new, lighter regulations. The nation’s finance ministry says the plan is to remove barriers to market entry and offer more legal certainty for the fintech space. Ministry officials say draft legislation could be sent to Switzerland’s […]
HSBC Private Bank live with new core banking system, Avaloq Banking Suite
Global giant HSBC has deployed Avaloq’s flagship core banking solution, Avaloq Banking Suite, for its private banking operations. The system is now live in Switzerland and Luxembourg.
Axion Swiss Bank to replace legacy tech with Avaloq Banking Suite
Axion Swiss Bank, a private bank focusing on asset management and consultancy, is migrating its technology to Avaloq’s BPO centre, Avaloq Sourcing Switzerland. On the way out is ERI’s Olympic core banking system.
Hinduja Bank replaces ERI’s Olympic core system with Avaloq Banking Suite
Hinduja Bank in Switzerland has moved to a new core banking system, supplied by Avaloq, Banking Technology understands. Avaloq Banking Suite replaced the legacy Olympic system from rival vendor ERI. Avaloq declined to comment on the story. Hinduja Bank – part of an India-based conglomerate, Hinduja Group – was set up in the late 1970s […]
EFG and BSI to merge on Temenos’ T24, Avaloq to be ousted
With the takeover of BSI by rival EFG International, Switzerland will see the creation of the country’s fifth largest private bank. Banking Technology looks at the IT implications, and the winners and losers of the deal. EFG is buying BSI from Brazil’s troubled Grupo BTG Pactual for CHF 1.33 billion ($1.38 billion). In its turn, […]
Switzerland’s new RTGS system paves the way for ISO 20022
Switzerland’s new real-time gross settlement (RTGS) system, SIC (SIX Interbank Clearing), is now live – opening the way for ISO 20022 usage. The new RTGS platform, SIC4, was introduced with the euroSIC system on 16 April 2015. The new SIC system went live on 14 April. With SIC up and running, migration to the new […]
SIX to establish Swiss trade repository as Parliament discusses reform
Swiss post-trade specialist SIX Securities Services is planning to establish a central trade repository for derivatives transactions in Switzerland, using the London Stock Exchange’s UnaVista platform. The platform is being built to allow Swiss customers to report under the Swiss Financial Market Infrastructure Act, which is currently in parliamentary consultation.
SIX Swiss Exchange prepares to launch corporate bonds platform
SIX Swiss Exchange is to launch a new trading platform for corporate bonds, which it says will provide a better way of trading large blocks of less liquid issues. The new platform is due to launch in the first half of 2015.
Switzerland goes contactless with SIX Payment Services
Switzerland’s SIX Payment Services has begun distributing the country’s first contactless debit cards, through a partnership with local bank Hypothekarbank Lenzburg, based in Aargau. The project, which began in December, replaces the bank’s entire portfolio of 22,000 debit cards with dual interface V PAY cards that enable contactless and regular transactions.
SIX Securities Services and Euroclear Bank alliance targets Swiss private banks
Swiss post-trade company SIX Securities Services has allied with Belgium’s Euroclear Bank in a deal aimed at Swiss private banks and their high net worth customers.
BATS Chi-X sets sights on Swiss ETFs through BX deal
Europe’s largest alternative trading venue BATS Chi-X Europe is set to target the Swiss equities market, following a deal with BX Swiss, an independent exchange. The deal focuses on cross-listings for exchange-traded funds, and trade reporting services – and is a direct threat to the incumbent SIX Swiss Exchange.
SIX to set up Swiss trade repository for OTC derivatives
Switzerland’s SIX Group is planning to set up a central trade repository or derivatives transactions together with a group of Swiss banks, in a move the company says will increase transparency and traceability of derivatives transactions. The project is based on the Swiss Financial Market infrastructure Act, a new piece of federal legislation which seeks […]
SIX Swiss Group prepares for T+2 settlement
Switzerland’s SIX Group will move to T+2 settlement starting on 6 October 2014, bringing Switzerland into line with the UK, France, Germany, the Netherlands and Russia.
