Die siebte Ausgabe der Studie „Digitalisierung & Kundenerfahrung im Schweizer Retailbanking 2024” von Colombus Consulting zeigt, dass die Retail-Banken auch 2024 weiter in digitale Medien investieren. Die mobilen Apps werden immer aktueller und beliebter, die sozialen Netzwerke generieren mehr Engagement, und die Budgets für digitales Marketing steigen um 23 % auf über 58 Mio. Schweizer Franken pro Jahr. Das Web steht dem in nichts nach, da Tools zur Optimierung der Kundenerfahrung oder Chatbots eingesetzt werden, aber die Aufmerksamkeit für digitale Verantwortung oder ethische KI noch gering ist. Ein seit zwei Jahren unverändertes Podium Die gleichen Banken bilden auch 2024 das Spitzentrio: UBS, PostFinance, Raiffeisen. Durch das Ausscheiden von Credit Suisse aus dem Panel und die Fortschritte von Swissquote in den Bereichen Web und mobile Apps kann die digitale Bank diesem Trio dicht auf den Fersen bleiben. Andere Banken machen Fortschritte wie Yuh und die Migros Bank, die in unserer Rangliste auf Platz 7 bzw. 8 stehen. Die Anstrengungen im digitalen Bereich lassen sich in allen Kanälen feststellen. Das Publikum wächst insgesamt um 13,5 % (fast 30 Millionen Besuche pro Monat), die Investitionen in das digitale Marketing bleiben stark (+23 %, d.h. mehr als 58 Millionen Schweizer Franken pro Jahr), der NPS der mobilen Apps wächst um 5 Punkte (67 %) und das Engagement in den sozialen Netzwerken steigt um 64 % auf insgesamt fast 100.000 Interaktionen pro Monat. Das Web angetrieben von Kundenerlebnissen und digitalen Produkten Die Optimierung des Kundenerlebnisses bleibt das A und O mit der Einführung neuer Webanalyse-Tools in diesem Sinne bei der FKB, N26 und Neon oder der Entwicklung des direkten Kontakts über Chatbot bei der BKB und Neon. Die Digitalisierung erfolgt auch über naturgemäss digitale Angebote und den nunmehr möglichen Zugang zu Kryptowährungen bei PostFinance und ZKB, in der gleichen Reihe wie die Kantonalbanken von Luzern, St. Gallen und Zug, mithilfe von Partnerschaften mit Akteuren, die auf diese Art von Vermögenswerten spezialisiert sind (Sygnum Bank und Crypto Finance AG). Mobile Apps werden beliebter und zu mehr Sicherheitsdiensten Die mobilen Apps der Banken sind in diesem Jahr ein grosser Erfolg. Der NPS steigt um 5 Punkte auf 67 % und auch die Anzahl der Aktualisierungen pro Bank steigt mit durchschnittlich 30 Aktualisierungen, 6 mehr als im Jahr 2023. Es gibt jedoch weiterhin eine Spaltung zwischen Neo-Banken und traditionellen Banken (64 Updates gegenüber 24). Die innovativsten neuen Dienstleistungen werden von der Neobank Revolut dank der automatischen Steuerung von Investitionen und eines verbesserten Schutzes gegen den Diebstahl von Telefonen angeboten. Swissquote setzt ebenfalls auf Sicherheit mit einer 2-Faktor-Authentifizierung für die Validierung der sensibelsten Transaktionen. Soziale Netzwerke: Engagement getragen von Instagram und LinkedIn Die Reichweite der sozialen Netzwerke ist in diesem Jahr geringer: Die Zahl der Abonnenten ist um 26 % (insgesamt 2 Millionen) gesunken, was auf das Fehlen von Credit Suisse und FlowBank im Panel sowie auf den Rückgang von Facebook zurückzuführen ist. Das Engagement ist auf dem Vormarsch und wächst um 64 %, vor allem dank Instagram und LinkedIn, und erreicht fast 100.000 Interaktionen pro Monat. Die Inhalte sind sichtbarer und ermutigen die Abonnenten, sie zu liken, zu kommentieren oder zu teilen, vor allem dank des Influencer-Marketings von UBS mit dem F1-Team und dem Fahrer George Russel. Raiffeisen wendet sich mit einer eigenen Instagram-Seite und einem aktiven und engagierten TikTok-Konto, das mehr als 700.000 oder sogar 800.000 Aufrufe für einige Videos generiert, an die jüngsten und netzwerkaktiven Zielgruppen. Erobert (generative) KI die Schweizer Banken? Während Privatbanken wie Pictet und Vontobel kürzlich mit auf generativer KI basierenden Assistenten zur Optimierung ihrer internen Produktivität und Kundeninteraktionen den Weg geebnet haben, zieht die UBS über ihren KI-Assistenten, der in den letzten 12 Monaten intern entwickelt wurde, um Unternehmensdaten im Rahmen von Fusionen und Übernahmen zu analysieren, nach. Temenos, ein Schweizer Anbieter von Banking-Lösungen, bietet nun eine Reihe von Lösungen an, die mit generativer KI angereichert sind. Seine Kundenbanken können damit einzigartige Informationen und Berichte generieren oder auch Produkte in Echtzeit nach Kundenpräferenzen erstellen, um die grundlegenden Bankaktivitäten und die kritischsten Geschäftsfunktionen zu unterstützen. In der gleichen Logik haben andere allgemeine Anbieter wie Oracle, Salesforce und Microsoft ihre Lösungen mit generativen KI-Modulen angereichert, um die verfügbaren Funktionen zu erweitern und gleichzeitig eine starke Geschäftslogik beizubehalten. Digitale Verantwortung noch im Werden Der bereits im letzten Jahr in unseren digitalen Index aufgenommene digitale Verantwortung misst die Umweltauswirkungen der Websseiten der Panelbanken, indem er deren Komplexität, Gewicht und Ressourcenoptimierung analysiert. Die im Jahr 2023 festgestellten halbherzigen Ergebnisse bleiben auch 2024 mit einem nahezu unveränderten EcoIndex-Durchschnitt von 36/100 noch aktuell. Swissquote bleibt mit einem ausgezeichneten Ergebnis von 95/100 Punkten allein an der Spitze. Die CA Next Bank und LUKB haben sich gut entwickelt, ohne jedoch die 50/100 zu überschreiten, und die schlechtere Bewertung von Akteuren wie BCV, N26 und Yuh konnte nicht ausgeglichen werden. Es bleibt abzuwarten, ob die Banken in den kommenden Monaten die digitale Verantwortung stärker in den Mittelpunkt ihrer digitalen Strategie stellen werden. Auf dem Weg zu einer ethischeren und verantwortungsvolleren Art Banken? Die Themen rund um die Ethik und die Verantwortung der Banken entwickeln sich an allen Fronten, insbesondere auf regulatorischer Ebene in Europa (und zweifellos langfristig auch in der Schweiz), wobei die CSRD (Corporate Sustainability Reporting Directive) und das KI-Gesetz an erster Stelle stehen. Zur Erinnerung: Die CSRD verlangt von den Unternehmen eine detaillierte nichtfinanzielle Berichterstattung über ihre Auswirkungen auf Umwelt, Soziales und Governance und damit die Verpflichtung, auf diesen Achsen zu handeln, und das KI-Gesetz verlangt, dass KI-Systeme nach Risikoniveaus klassifiziert werden, mit Verpflichtungen je nach ihrer Nutzung. Die Schweizer Banken sind nicht alle im gleichen Boot: die internationalen Banken mit einer europäischen Ausrichtung, die daher diese Richtlinien befolgen müssen, und die anderen, die eher lokal ausgerichtet sind, aber letztendlich davon betroffen sein werden.   The post Die Digitalsten Schweizer Retail Banken appeared first on Fintech Schweiz Digital Finance News - FintechNewsCH.

BX Digital announced the planned appointment of Lidia Kurt as its new Chief Executive Officer. BX Digital is a sister company of the Swiss exchange BX Swiss and part of the Boerse Stuttgart Group. BX Digital aims to create a transparent, accessible and liquid market for digital assets based on blockchain technology in Switzerland. Lucas Bruggeman “With the appointment of Lidia Kurt, we intend to continue on our dynamic path,” says Lucas Bruggeman, Chairman of the Board of Directors of BX Digital. “We have the ambition of becoming the first licensed DLT trading system in Switzerland. The application has been submitted to FINMA.” Lidia Kurt holds a PhD in Finance from the University of St. Gallen, is the author of the book Digital Assets and Tokenisation and has extensive expertise at the interface of financial systems and innovative technologies. Since founding vision& in 2017, she has been working as a consultant for digital assets and has successfully supported numerous tokenisation projects. Previously, she was Managing Partner of a quantitative finance consultancy and gained valuable experience at J.P. Morgan and Swiss Re in Zurich, London, and Hong Kong. Since 2021, she has been involved at Boerse Stuttgart Group on Blockchain specific topics as an external consultant. Lidia Kurt “I am looking forward revolutionising financial market structures with BX Digital at the forefront, opening up new avenues for efficiency and innovation,” says Lidia Kurt. “The possibility of trading digital assets such as tokenised shares, bonds and certificates on a regulated secondary market for the first time in the future is groundbreaking for the financial centre.” Transactions can be processed within minutes via a public blockchain, without the need for centralised financial intermediaries such as central securities depositories or clearing houses. Matthias Voelkel “As Boerse Stuttgart Group, we are pioneers in the field of digital assets and with BX Digital we want to shape the future European market infrastructure for tokenised securities. We are therefore delighted that Lidia Kurt will contribute her extensive expertise and experience to the management of BX Digital and thus contribute to our success.” added Dr. Matthias Voelkel, CEO of Boerse Stuttgart Group. The post Bx Swiss Found CEO for Its New Digital Asset Exchange appeared first on Fintech Schweiz Digital Finance News - FintechNewsCH.

Inflexion, an European mid-market private equity firm, announced that it has agreed an investment in Finanzen.net Group, a digital broker and market leading financial information portal in the DACH region, alongside the founders. According to a Reuters report the company value could be around 400 millions Euro. The investment is being made by Inflexion’s Buyout Fund VI and is the second investment in the DACH region after Tierarzt Plus Partner since Inflexion opened its office in Frankfurt earlier this year. The Group consists of three divisions: high-growth low-cost digital investment platform, also known as a neobroker, called Zero, a capital markets information platform called Finanzen.net, and a trading software platform for semi-professional retail investors called TraderFox. The business will be acquired from Axel Springer, a leading transatlantic media company. Inflexion will work with Finanzen.net Group’s founders and management to carve-out the business as a standalone integrated company and drive future growth. In particular, Inflexion will support the launch of additional saver and investing products. Inflexion has a strong track record in carving out businesses from large corporates, and this will be the sixth carve-out in four years following investments into Marlowe (GRC), GlobalData Healthcare, Curinos, aosphere and Giacom. Florencia Kassai This transaction exemplifies the power of collaboration between regions and sectors, with our Frankfurt team working with our Financial Services specialists in London, leveraging the full capabilities of Inflexion, including our extensive experience in supporting carve-outs. Such collaboration will be pivotal in driving the future growth of Finanzen.net, as we aim to create a leading digital investment platform in the DACH region. Florencia Kassai, Managing Partner and Head of Buyout Fund, Inflexion Maximilian von Richthofen The goal is clear: We want to develop Zero in connection with the financial news business into the broker of choice for investing, trading and saving. More than ever, the focus of Finanzen will be on delivering innovative technological solutions for capital markets. I am thrilled that with Inflexion we are partnering with a successful investor who will support us in executing on this strategy with investments in products and technology. Special thanks are due to the excellent Finanzen team and our shareholder Axel Springer who provided us with entrepreneurial freedom, thereby creating the conditions under which we have been able to open this new chapter of our growth story. Maximilian von Richthofen, CEO, Finanzen.net Group       Featured image credit: edited from freepik The post Private Equity Firm Acquires finanzen.net From Axel Springer appeared first on Fintech Schweiz Digital Finance News - FintechNewsCH.

In 2023, Switzerland’s marketplace lending witnessed a significant contraction, with the volume of new debt capital issued on online platforms falling by 10.8% year-over-year (YoY) to approximately CHF 18.6 billion, a joint report by the Lucerne School of Business and the Swiss Marketplace Lending Association (SMLA) says. The Marketplace Lending Report Switzerland 2024, released in October, provides a comprehensive analysis of online debt financing trends for corporations, public entities, and private individuals in Switzerland. It focuses on online platforms directly connecting lenders and borrowers, offering an overview of the current state and emerging trends within the Swiss marketplace lending landscape. This year’s report reveals a decline in marketplace lending volumes, with key subsegments of the markets, including crowdlending and mortgage financing, facing the steepest drops. In 2023, crowdlending plummeted by 20% YoY to CHF 389.1 million in new loans, down from CHF 497.5 million in 2022. Similarly, mortgage loans brokered on platforms and financed by institutional and professional investors fell by 20%, falling from CHF 6.2 billion in 2022 to CHF 5 billion in 2023. Meanwhile, the subsegment of loans and bonds targeting mid-sized and large corporations, as well as public and near-public entities, showcased the most resilience, declining by just 6.7% YoY to CHF 13.2 billion. Total volume Swiss marketplace lending, 2017-2023 (in CHF million, *estimate), Source: Marketplace Lending Report Switzerland 2024, The Lucerne School of Business and the Swiss Marketplace Lending Association (SMLA), Oct 2024 Crowdlending: a market led by real estate but in decline Within crowdlending, real estate continued to lead the subsegment, generating CHF 203.9 million in 2023 and accounting for 52.4% of the market. The sum, however, represents a major YoY decline of 27.9% from CHF 282.7 million in 2022. That volume mainly consisted of loans to companies in the real estate development business, many of which were issued as short-term credits, later redeemed by banks. Business crowdlending was the second-largest subsegment, contributing CHF 132.8 million or 34.1% of the market. While it saw a milder drop of 6.4% YoY, this performance reflects ongoing interest despite broader market pressures. Crowdlending volumes and number of loans in Switzerland, 2012-2023, Source: Marketplace Lending Report Switzerland 2024, The Lucerne School of Business and the Swiss Marketplace Lending Association (SMLA), Oct 2024 At the end of 2023, 16 crowdlending platforms were active in Switzerland, with increased involvement by banks and insurance companies, as well as market consolidation, the study found. Lend acquired Lendico from PostFinance in 2019, and in a reciprocal move, PostFinance acquired a stake in Lend; Basellandschaftliche Kantonalbank is a strategic investor in Swisspeers; and Funders is a platform launched by Luzerner Kantonalbank in 2016. Mortgage loans witness first decline in a decade In 2023, the mortgage brokerage subsegment recorded its first decline in ten years, reaching approximately CHF 5 billion, down from CHF 6.2 billion in 2022. The report anticipates that in 2024, some platforms will exit the business-to-consumer (B2C) mortgage market, with further consolidation expected moving forward. This will be driven by a number of factors, including a lower growth rate than expected, as well as relatively low margins per transactions, it says. Volume of mortgage brokers in Switzerland, 2017-2023, Source: Marketplace Lending Report Switzerland 2024, The Lucerne School of Business and the Swiss Marketplace Lending Association (SMLA), Oct 2024 At the end of 2023, 12 different platforms operated in the mortgage vertical, serving a professional investor base of banks, insurance companies and pension funds as lenders. Key players included UBS key4 mortgages, through which UBS offers its own mortgages and mortgages from third parties, and BrokerMarket from Thurgauer Kantonalbank, which operates as an intermediary platform connecting mortgage borrowers with lenders through mortgage brokers. Several independent mortgage brokerage firms were also present, including RealAdvisor, Resolve, topHypo ,Hypohaus, PropertyCaptain and Hypo Advisors. Loans and bonds for public entities and corporations Finally, loans and bonds for entities and corporations, another key subsegment in the Swiss marketplace lending landscape, remained a dominant force within the sector in 2023, capturing a 71% share of the market with CHF 13.2 billion in new loans issued. This section includes two types of loans or private placements: firstly, the online market for loans to public or near-public entities; and secondly, the market for loans to mid-sized and large corporations. Investors in both subsegments are banks and institutional and professional investors, such as asset managers, family offices and pension funds. Two market participants were currently active in this segment in Switzerland in late 2023. Loanboox, launched in 2016, has grown rapidly in the loan market for public entities with now more than 3,000 transactions and CHF 30 billion in volume closed. Cosmofunding, meanwhile, is a platform launched in 2018 by Bank Vontobel. The company focuses on public and corporate borrowers.   Featured image credit: edited from freepik The post Swiss Marketplace Lending Volume Falls appeared first on Fintech Schweiz Digital Finance News - FintechNewsCH.

The regulatory landscape for cryptocurrencies has undergone significant transformation in 2024, with the European Union (EU) leading the charge through landmark initiatives such as the Markets in Cryptoassets (MiCA) regulation, but also guidelines on stablecoins as well as updates to the so-called “travel rule” for crypto transfers, a new report by Elliptic, a British blockchain analytics firm, says. These efforts represent some of the most significant crypto regulatory advancements of the year, highlighting the EU’s pioneering role on the global stage, and setting the stage for regulatory trends in other regions. MiCA: a groundbreaking regulation The report, released in September 2024, highlights MiCA as a pivotal step in the global regulation of cryptocurrencies. The regulation, which aims to harmonize crypto regulations across the EU, marks the first comprehensive framework introduced by a major global economy. A major component of MiCA is the licensing requirement for cryptoasset service providers (CASPs), which obligates them to adhere to strict market conduct, consumer protection and prudential standards. Once licensed by a national supervisory authority in one EU member state, a CASP is allowed to extend its services across the entire bloc, creating significant business opportunities. The rollout of MiCA is being conducted in phases. Provisions on stablecoins took effect on June 30, 2024, while the remaining parts of the regulation will start to apply on December 30, 2024. Updates on the “travel rule” Another key regulatory development in 2024 was the EU’s updates to its travel rule to cover crypto transfers. The travel rule refers to regulations that require financial institutions to share information about the sender and receiver of financial transactions. It’s designed to combat money laundering, terrorism financing and other illicit financial activities. The new guidelines, released by the European Banking Authority (EBA) in July 2024, specify the informations required to accompany every crypto transfer, regardless of their amount. They also outline steps for payment service providers and CASPs to address missing or incomplete details, and establish measures for managing non-compliant transfers. The update aims to ensure a consistent EU-wide approach to tracing transfers for anti-money laundering and counter-terrorism financing (AML/CTF) purposes, taking effect from December 30, 2024, and replacing earlier guidance. Stablecoin rules Finally, stablecoins, because of their growing importance in the crypto ecosystem, have come under increased regulatory scrutiny. Under MiCA, stablecoin issuers are required to obtain approval from relevant member state authorities before offering their tokens within the EU, or when offering stablecoins pegged to the euro or other member state currency. They must maintain adequate reserves with a one-to-one ratio and partly in the form of deposits. They must also provide redemption rights to token holders at any time and free of charge, and must have a registered office in the EU. Outside of the EU, other jurisdictions have also released stablecoin regulations over the past year. In Switzerland, the Financial Market Supervisory Authority published on July 26, new guidance, clarifying the obligations of stablecoin issuers. The guidance, which emphasizes AML/CFT compliance and default guarantees, requires issuers to determine whether their tokens qualify as deposits or investment schemes and comply with banking license requirements if applicable. New challenges for industry players Although these regulatory developments are providing greater clarity for businesses operating within the crypto space, they also introduce new compliance challenges to industry stakeholders. Critics argue that MiCA could increase costs for providers and create significant burdens for startups and smaller players, raising barriers to entry and stifling innovation. Meeting the new standards may prove challenging for some companies as they involve costly licensing applications, adjustments to the business operations to meet the requirements of the license, including capital and AML and compliance functions, as well as ongoing obligations for monitoring and reporting, KPMG warns. This dynamic is expected to give larger companies with substantial financial resources a competitive edge, enabling them to acquire, at a discount, smaller crypto companies unable to comply with the new legislation. Such consolidations are already taking place. In July, British crypto trading platform Iconomi acquired Triaconta, a Dutch crypto investment platform to grow and develop in the Netherlands and wider EU market. In September, Kraken, a leading American crypto exchange, completed its acquisition of BCM, one of the Netherlands’ oldest and most renowned registered crypto brokers. In addition, some companies are navigating these challenges by choosing jurisdictions with less stringent regulatory environments. For example, OKX, one of the world’s largest crypto exchanges by trading volume, selected Malta over France as its EU hub, citing “more lenient … compliance”. Similarly, Israeli broker eToro chose Cyprus as its EU hub where it secured a CASP registration in September 2023. The Elliptic report, titled Global Crypto Regulation Landscape 2024, provides an update on regulatory progress related to cryptoassets. It highlights key trends and advancements in 2024 so far, offering a detailed overview of global and regional developments in crypto regulations.   Featured image credit: image via freepik The post EU Leads in Crypto Regulation with MiCA, Travel Rule Updates appeared first on Fintech Schweiz Digital Finance News - FintechNewsCH.

Sifted, a tech media brand backed by the Financial Times (FT), has released its annual ranking of Germany’s fastest-growing startups, showcasing the resilience and dynamism of the country’s tech ecosystem. The Sifted 50: Germany Leaderboard, released in September, ranks the 50 startups with the strongest revenue growth in the country over the past three financial years. These companies have achieved remarkable revenue growth despite double-digit inflation and sharply rising interest rates. This year’s average two-year revenue compound annual growth rate (CAGR) stands at a remarkable 162.08%, with the top three companies surpassing the 500% CAGR mark. Geographically, Berlin leads as the hub for innovation, with 22 of the top 50 companies based in the capital, followed by Munich with nine and Cologne and Hamburg with three each. Combined, these 50 companies have raised EUR 6.98 billion in funding and generated revenues of EUR 3.03 billion over the past three financial years. This year, fintech dominates the leaderboard, with 12 companies offering cutting-edge solutions in areas including personal finance, expense management and regtech. This underscores fintech’s prominence in Germany. Today, we look at the 12 fintech companies that made it into this year’s Sifted 50: Germany Leaderboard, highlighting their value propositions and recent achievements. Anybill (+328.17% revenue CAGR) Anybill platform, Source: Anybill Founded in 2019, Anybill allows retailers of all sizes to issue receipts digitally, directly at checkout. The solution integrates with merchant apps, wallets, banking, and payment apps, bridging gaps in payment infrastructure. Anybill, which is based in Munich, has secured EUR 5 million in funding, and recorded a two-year revenue CAGR of 328.17%. The figure makes it the 6th fastest-growing German startups of the past two years, according to Sifted. Finanzguru (+168.67% revenue CAGR) Finanzguru illustration, Source: Finanzguru Launched in 2018, Finanzguru is a financial assistant app that leverages artificial intelligence (AI). The platform allows users to manage all of their banking accounts and contracts in one place, and provides them with advice on insurance and financial products based on a digital analysis of their banking data. Operated by Frankfurt am Main-based dwins, Finanzguru claims more than 1.5 million registered users, making it the largest bank-independent financial app in the German market. The company achieved a revenue CAGR of 168.67% these past two years, making it the 15th fastest-growing startup in Germany. HeyData  (+144.9% revenue CAGR) HeyData illustration, Source: HeyData Established in 2020, HeyData is a leading compliance startup headquartered in Berlin. The company provides an all-in-one compliance solution, helping more than 1,500 small and medium-sized enterprises (SMEs) and startups manage their data protection and compliance requirements. HeyData secured a EUR 3.3 million seed funding round in September 2022 to fund its product expansion and venture into new markets. The company achieved a revenue CAGR of 144.9% during the prior two years, making it the 18th fastest-growing startup in Germany. Circula (+140.48% revenue CAGR) Circula illustration, Source: Circula Founded in 2017, Circula is a leading expense management solution for SMEs in Europe. The platform helps businesses manage employee expenses, such as travel costs, out-of-pocket expenses, and benefits. It automates the process of submitting and approving expense reports, and seamlessly integrates with existing enterprise resource planning (ERP), accounting and human resources (HR) software. Circula claims 2,000+ business customers. The company has secured US$25 million in venture capital (VC) to date, and recorded a revenue CAGR of 140.48% in the last two years, making it the 20th fastest-growing German startup. Hawk (+105.74% revenue CAGR) Hawk illustration, Source: Hawk Founded in Munich in 2018, Hawk uses explainable artificial intelligence (AI) to revolutionize anti-money laundering (AML) and regulatory compliance for financial institutions. The company’s technology combines AML transaction monitoring, payment screening, know-your-customer (KYC), and fraud detection to provide comprehensive tools that help institutions fight financial crime effectively while saving costs. Hawk, which works with leading financial institutions and partners such as Moss, Mambu, Visa, and LexisNexis, has raised US$27 million in funding. The company recorded a revenue CAGR of 105.74% in the last two years, making it the 25th fastest-growing German startup. Bezahl (+102.96% revenue CAGR) Bezahl platform, Source: Bezahl Bezahl is a digital payment management platform for car dealerships. The platform automates, digitizes and simplifies the entire receivables process, from payment request to 100% data quality for automated posting in accounting systems. Operated by Aufinity Group, a company founded in 2018 and based in Cologne, Bezahl claims it has already won more than 80% of the top 100 German car dealers and is now starting its internationalization in Europe. In the last two years, Bezahl achieved a revenue CAGR of 102.96%, making it the 26th fastest-growing startup in Germany. Secjur (+84.8% revenue CAGR) Secjur illustration, Source: Secjur Founded in 2018, Secjur is a Hamburg-based company that provides an automated compliance platform using AI technology. The company’s platform, known as the Digital Compliance Office (DCO), helps businesses streamline compliance processes in areas such as data security, AML and whistleblowing. Secjur has already gained significant traction with partnerships established with the likes of Mercedes Benz, Samsung and Tomorrow Bank. The startup secured EUR 5.5 million in December 2022. It recorded a revenue CAGR of 84.8 in the last two years, making it the 33rd fastest-growing German startup. Timeless (+76.27% revenue CAGR) Timeless illustration, Source: Timeless Timeless is a wealthtech startup specialized in unique collectibles such as art, watches, classic cars, and whiskies. Through its digital platform and the use of blockchain technology, Timeless enables fractional investments starting at just EUR 50, allowing individuals to benefit from the value appreciation of these tangible assets. Timeless, a brand of New Horizon, a company based in Berlin and founded in 2018, claims it has tokenized over 600 collectibles to date, totaling more than EUR 27 million in value. The company achieved a revenue CAGR of 76.27% in the last two years, making it the 35th fastest-growing startup in Germany. Spotixx (+73.21% revenue CAGR) How does safeAML work, Source: Spotixx Founded in 2019, Spotixx specializes in AI-driven solutions for financial crime detection. The company’s advanced solutions help banks effectively address the challenges of fraud and money laundering. With safeAML, a large-scale project developed in collaboration with industry partners, Spotixx connects banking data to create a powerful tool in the fight against financial crime. At the same time, its add-on products AMALIA and FREDDY bring AML- and fraud monitoring into the AI-era, enhancing banks’ existing systems with advanced AI capabilities. Spotixx achieved a revenue CAGR of 73.21% in the last two years, making it the 38th fastest-growing startup in Germany. ProNoblis (+66.4% revenue CAGR) ProNoblis logo, Source: ProNoblis Founded in 2013, ProNoblis is a SME financing company based in Berlin. The company’s core product is a buy now, pay later (BNPL) solution for business-to-business (B2B) clients that helps SMEs financing the purchase of goods. ProNoblis leverages a strong distribution network, strategic partnerships, and AI-driven technology to deliver scalable, automated financial solutions through its flagship product, CreditEngine. CreditEngine is a digital platform that offers a fully automated credit process with a three-minute decision time, self-service features, and AI-powered rating. ProNoblis achieved a revenue CAGR of 66.4% in the last two years, making it the 41st fastest-growing startup in Germany. Prestatech (+41.42% revenue CAGR) Prestatech illustration, Source: Prestatech via LinkedIn Founded in 2021, Prestatech is a cloud-based platform that provides modern underwriting solutions for lenders and innovative embedded finance products for commercial players. Through its platform, Prestatech offers banks API solutions based on AI, algorithms and big data. The services focus on end-to-end digital credit processes. Prestatech is currently active with major European players including Fabrick and Banca AideXa. The startup achieved a revenue CAGR of 41.42% in the last two years, making it the 46th fastest-growing startup in Germany. Pair Finance (+35.32% revenue CAGR) Pair Finance mockup, Source: Pair Finance Founded in 2016 and headquartered in Berlin, Pair Finance s a leading fintech for digital debt collection and receivables management. The company is transforming the debt collection industry with its sustainable, digital, efficient, and customer-centric approach. Using AI, behavioral psychology and data science, Pair Finance is setting a new standard in debt collection that supports businesses and consumers alike. Pair Finance, which claims more than 500 business customers, achieved a revenue CAGR of 35.32% in the last two years, making it the 49th fastest-growing startup in Germany.   Featured image credit: edited from freepik The post Germany’s 12 Fastest-Growing Fintech Startups in 2024 appeared first on Fintech Schweiz Digital Finance News - FintechNewsCH.

Die Bedeutung von Kryptowährungen hat in den letzten Jahren stark zugenommen. In der Schweiz investieren 11 Prozent der Bevölkerung in Krypto-Anlagen. Die meisten Personen tun dies aus Interesse und Neugier mit verhältnismässig kleinen Beträgen – und weniger aus Rendite- oder Diversifikationsgründen. Mit der zunehmenden Verbreitung von Kryptowährungen bieten immer mehr Banken den Handel mit digitalen Anlagen über das E-Banking und Mobile Banking an. In einer Studie hat die Hochschule Luzern (HSLU) im Auftrag von PostFinance untersucht, wer in Krypto-Anlagen investiert und aus welchen Gründen dies geschieht. Es ist die erste umfassende und repräsentative Studie zum Thema Krypto-Anlagen von Privatpersonen in der Schweiz. Hohe Bekanntheit – moderates Interesse Das Interesse an Krypto-Anlagen ist in der Schweizer Bevölkerung insgesamt mässig. Rund 8 Prozent sind eher stark oder sehr stark daran interessiert, wobei das Interesse bei jüngeren Generationen, bei Männern und bei Personen mit hohem Einkommen stärker ausgeprägt ist (Abbildung 1). Gleichzeitig kennt die Mehrheit der in der Schweiz lebenden Personen inzwischen zumindest die bekanntesten Kryptowährungen wie Bitcoin (87 Prozent) und Ether (35 Prozent) (Abbildung 2). Trotzdem haben 82 Prozent der Bevölkerung noch nie in Krypto-Anlagen investiert. Abbildung 1: Besitz von Krypto-Anlagen nach demografischen Merkmalen (Besitz aktuell und früher) Nur wenige handeln aktiv und mit grösseren Beträgen Andreas Dietrich Krypto-Anlagen geniessen zwar in den Medien hohe Aufmerksamkeit, wie Studienautor Prof. Dr. Andreas Dietrich von der HSLU sagt. «Das erweckt den Eindruck, dass viele in der Schweiz wohnhafte Personen aktiv in diesem Markt investieren oder handeln.» In Wirklichkeit besitzen aktuell nur 11 Prozent der Bevölkerung Krypto-Anlagen. Von dieser Gruppe handelt nur etwa jede siebte Person aktiv oder mit grösseren Beträgen. Dietrich: «Dies bedeutet, dass Krypto-Anlagen insgesamt derzeit wohl lediglich für etwa 1 bis 2 Prozent der Bevölkerung eine hohe Bedeutung haben.» Neugier statt Rendite und Diversifikation Die Mehrheit der Krypto-Investorinnen und -Investoren engagieren sich mit kleinen Beträgen in dieser Anlageform. Dies deutet laut Andreas Dietrich darauf hin, dass viele Investitionen einen eher experimentellen Charakter haben. So halten 31 Prozent der Befragten weniger als CHF 1’000 in Krypto-Vermögen. Als Hauptmotiv für diese Investitionen nennen die Anlegerinnen und Anleger vor allem die Neugierde (Abbildung 2). Abbildung 2: Gestützte Bekanntheit von Krypto-Anlagen Die populärsten Kyrpto Handelsplatformen in der Schweiz: Revolut, Swissquote und Binance Die Nutzung von Renditechancen und die Diversifikation des Portfolios sind nicht unwichtig, spielen aber insgesamt für viele Investorinnen und Investoren (noch) eine untergeordnete Rolle. Die bei Krypto-Anlegerinnen und Anlegern populärsten Anbieter für den Handel von Krypto-Anlagen sind Revolut, Swissquote und Binance. Wachstumspotenzial von Krypto-Anlagen Die potenziellen Krypto-Anlegerinnen und -Anleger lassen sich in drei Gruppen unterteilen: Jene, die aktuell in Krypto-Anlagen investieren, jene, die es noch nie getan haben und Ehemalige, die es momentan nicht mehr tun. Die Analyse zeigt, dass es herausfordernd ist, Neukunden zu gewinnen, die bisher keinen Kontakt mit Krypto-Anlagen hatten. Aus Sicht von Andreas Dietrich liegt das grösste Potenzial für Finanzdienstleister bei den bestehenden Investorinnen und Investoren über den Ausbau ihrer Investments. Es ist aber auch möglich, dass die Befragten das langfristige Potenzial selbst unterschätzen. Dazu sagt Dietrich: «Die Integration von Krypto-Anlagen in die Angebote etablierter Schweizer Banken verdeutlicht den wachsenden Einfluss dieser Anlageklasse. Durch den einfachen Zugang über das E- und Mobile-Banking wird die Verbreitung von Krypto-Anlagen in der Bevölkerung weiter steigen.» Abbildung 3: Gründe für die Investition in Krypto-Anlagen Ein Hinweis auf das Potenzial zeigt sich auch darin, dass Wertschriften-Anlegerinnen und -Anleger deutlich häufiger in Krypto-Anlagen investieren als Personen, die nicht in Wertschriften anlegen. Gemäss der Studie legen 18 Prozent der Wertschriften- Anlegerinnen und Anleger in Krypto-Anlagen an. Damit sind diese Krypto-Anlagen zwar weniger bedeutend als klassische Anlagekategorien wie Aktien, Fonds oder Obligationen. Es wird aber deutlich häufiger in Krypto-Anlagen investiert als in Derivate (z.B. Optionen).   Titel-Bild Nachweis: Bearbeitet von freepik The post Schweizer Krypto-Anleger Studie: Revolut, Swissquote und Binance führend appeared first on Fintech Schweiz Digital Finance News - FintechNewsCH.

The London Stock Exchange Group (LSEG) has partnered with IDVerse to strengthen its digital identity verification services. LSEG aims to combat the growing threat of digital deception, including synthetic media and deepfakes. This collaboration will integrate IDVerse’s advanced technology, including its fully automated “Zero Bias AI,” which leverages regenerative AI, into LSEG’s existing spectrum of risk solutions. This AI-powered tool aims to provide accurate identity verification while minimising potential bias based on race, age, and gender. The partnership will focus on improving the speed and reliability of document and biometric checks, addressing issues of accessibility and fraud prevention. This is crucial in today’s rapidly evolving digital landscape where IDVerse reports that one in four fraud attempts now involve some form of digital deception. Both companies emphasise the importance of creating interoperable systems that can be customised to meet the specific needs of each customer. This offers a next-generation workflow without compromising on security or user experience. By enhancing digital identity verification, LSEG and IDVerse aim to improve access to vital services while ensuring legal and regulatory compliance for global operations and maintaining trust and security. Daniel Flowe Daniel Flowe, Head of Digital Identity at LSEG, said, “Onboarding IDVerse complements LSEG’s identity verification capabilities and adds yet another means of low-friction, high assurance identity verification for our customers. IDVerse’s ability to scale across a huge variety of geographies and customer verification use cases allows us to offer our customers a future-proofed solution to digital identity verification. To give our customers confidence, we extensively tested IDVerse’s interoperability, performance, and agility to ensure that it matched our existing best-in-class standards. This combination gives us a truly next generation workflow to bring to market.” John Myers John Myers, CEO, IDVerse added, “The pace of evolution in digital deception that identity platforms like LSEG required a tool that adapts to new fraud vectors whilst giving a great customer experience to good customers. This is illustrated by IDVerse now experiencing 1 in 4 fraud attempts involving digital deception. The partnership with LSEG allows businesses to remain open to new opportunities whilst adapting to a changing world. Their spectrum of risk solutions, all from one trusted partner, helps organisations efficiently navigate risks, avoid reputational damage, reduce fraud and ensure legal and regulatory compliance around the globe”.   Featured image credit: Edited from freepik The post LSEG Taps IDVerse to Combat Deepfakes, Enhance Digital Identity Verification appeared first on Fintech Schweiz Digital Finance News - FintechNewsCH.

The digital wallet industry has transformed into a dynamic and complex landscape over the past years, evolving from simple payment tools into sophisticated, multifunctional digital platforms that are playing an essential role in the broader financial landscape. These digital wallets now offer a wide array of services beyond basic payments, incorporating features such as account management, financial insights, and access to a variety of financial products, but also lifestyle services like travel, restaurants and events. A new report produced by ti&m, a Swiss IT consulting company, in partnership with the Institute of Financial Services Zug (IFZ), the Swiss Bankers Association and Swiss Stablecoin, looks at this evolution, exploring the evolving landscape of digital wallets and providing insights into the latest trends and key regulatory developments influencing the future of digital payments and finance. Digital wallets emerge into financial platforms According to the report, digital wallets have expanded their functionality significantly, evolving into broad financial platforms. This evolution has in part been fueled by open banking regulations. Rules such as the second Payment Services Directive (PSD2) in the European Union (EU), the UK’s Open Banking Standard, and the Open API Framework in Hong Kong, allow for secure, consent-based access to users’ financial data through standardized application programming interfaces (APIs). This allows digital wallets to offer enhanced functionality, such as unified account management, personalized financial insights, and seamless payments directly from bank accounts, bypassing traditional card networks. Moreover, the interoperability provided by open banking enables digital wallets to integrate services like tailored credit options, loans, buy now, pay later (BNPL) schemes, investment opportunities, and insurance products. Revolut illustrates this trend. The company, which operates globally, has evolved into an expansive financial ecosystem that includes products such as currency exchange, debit and credit cards, virtual cards, Apple Pay, interest-bearing “vaults”, personal loans and BNPL, and stock trading. Users can link their accounts from various banks, facilitated through APIs, and the wallet supports a wide range of assets, including fiat money, crypto assets, stocks, commodities, airline miles, and Revolut’s own points program “RevPoints”. Revolut is regulated by several authorities globally and has a legal representation in Switzerland. It maintains partnerships with banks and third-party providers to extend its services beyond its internal ecosystem. Revolut serves over 45 million retail and 500,000 business customers globally, operates in more than 140 regions and supports over 25 currencies. Recently, the company reached a US$45 billion valuation after a secondary share sale, making it worth more than some of Europe’s biggest banks, Reuters reported. In July, it was granted a UK banking license after a three-year wait, though with some restrictions. The rise of digital payments Digital payments have risen in popularity over the past couple of years, accelerated by the COVID-19 pandemic. This has boosted the adoption of digital wallets globally and reduced the use of cash. In 2023, digital wallets accounted for 30% of global point-of-sale (POS) transaction value, totaling over US$10.8 trillion, and 50% of global e-commerce transaction value, according to the 2024 Global Payments Report by payment processing company Worldpay. Digital wallets are projected to be the fastest-growing payment method through 2027, expected to grow at an annual rate of 15% for e-commerce and 16% for POS transactions. Global e-commerce payment methods, Source: 2024 Global Payments Report, Worldpay In parallel, the use of cash is declining globally, down 8% for POS transactions in 2023. Cash, however, remains a vital payments tool for billions of consumers, accounting for 16% of global transaction value in 2023, or US$6 trillion. Global POS payment methods, Source: 2024 Global Payments Report, Worldpay In Switzerland, Twint is the leading mobile payment platform. The platform operates more as an independent mobile-oriented payment system than as a digital wallet, allowing users to link the app to their bank account with the issuer. This classifies Twint as a debit payment instrument rather than a digital wallet for payments in the stricter sense. Using Twint’s digital wallet, users can conduct payment transactions through the direct integration of a partner bank account via a prepaid account top-up for each transaction executed by the app, offering flexible options for managing their finances. Beyond transactions, Twint also supports services like digital parking payments, digital vouchers, special deals and discount promotions, as well as insurance coverage. In 2023, Twint had over five million active users, processed 590 million transactions, and was accepted as a payment method by 77% of bricks and mortar shops and 76% of online shops in Switzerland. A 2023-2024 study conducted by Statista polled more than 400 consumers in Switzerland, and found that 73% of respondents had used Twint over the prior 12 months at a physical store, making it the top mobile payment solution, ahead of Apple Pay (40%) and PayPal (35%). Google Pay is another popular digital wallet in Switzerland. The platform, which is managed by Google, allows users to register credit and debit payment instruments in the wallet, enabling them to make everyday payments. The wallet also includes features such as loyalty points and gift cards. Like other digital wallets, Google Pay partners with banks, financial institutions and other contracting parties to enhance its services. Despite the rise of digital wallets, cash remains a major part of the Swiss payment ecosystem. A 2023 survey by the Swiss National Bank (SNB) revealed that 92% of customer-facing businesses in the country accept cash, compared to 59% that accept app-based payments.   Featured image credit: edited from freepik The post Digital Wallets Evolve Into Sophisticated, Multifunctional Financial Ecosystems appeared first on Fintech Schweiz Digital Finance News - FintechNewsCH.

Klarpay announced that it will officially rebrand to Bivial AG in the coming weeks. The new name reflects the company’s evolving vision and core values while incorporating a personal touch—the initials of its founders. While Klarpay has been recognised for its specialisation in cross-border corporate payments, Bivial AG is seeking to expand its offerings to provide a more comprehensive suite of financial services. The name “Bivial” symbolises the importance of two-way transaction flows—a fundamental principle in payments and business. This rebranding underscores the company’s commitment to delivering seamless, secure, and complete financial solutions for businesses worldwide. As part of its growth strategy, Bivial AG will also seek to expand its regulatory authorisations. Building on its existing regulatory framework under the Swiss Federal Banking Act Art 1b, the company aims to broaden its services by securing additional regulatory approvals in Switzerland. This regulatory expansion will enable Bivial AG to offer a broader range of financial and treasury products that are in line with its mission of becoming a comprehensive financial provider. Martynas Bieliauskas “We are thrilled to introduce Bivial as our new identity,” said Martynas Bieliauskas, CEO of Klarpay AG, rebranding to Bivial AG. “Our new name better reflects our mission to guide our clients along the pathways of financial innovation and trust. We will continue to leverage our strong foundation in financial technology, ensuring our customers receive the innovation and service they have come to expect while broadening our banking and regulatory footprint.”   Featured image credit: image via Klarpay The post Klarpay to Rebrand as Bivial appeared first on Fintech Schweiz Digital Finance News - FintechNewsCH.

The market for embedded finance is experiencing significant growth, with the total addressable market (TAM) reaching US$185 billion in 2024, marking a 25% increase from US$150 billion in 2022. According a new report by Dutch payment firm Adyen and Boston Consulting Group (BCG), this rise is being fueled by the favorable interest rate environment and an expansion of banking revenue pools. The report, released on October 28, explores the state of embedded finance for software-as-a-service (SaaS) platforms in 2024, drawing on quantitative and qualitative research involving approximately 30 leading platforms and about 2,000 small and medium-sized enterprises (SMEs) across North America, Europe and Australia. Untapped opportunities for SaaS platforms The report emphasizes that embedded finance is poised to unlock substantial opportunities, driven by SME demand. Results of the SME survey reveal that 50% of the businesses polled are interested in utilizing a full suite of embedded finance products in the near future. Embedded capital solutions, in particular, represent a critical need for SMEs, as only 20% of small business loan applications are approved by US banks. The report identifies three key features that businesses prioritize: faster access to funds (53%), flexible repayment terms (50%), and automated repayment options (47%). The uplift in embedded finance TAM is also being fueled by the current high-interest rate environment, which is providing tailwinds for financial products including loans and accounts. This is offering significant revenue potential for SaaS platforms with some capable of tripling or quadrupling their current revenues by integrating these services, the report estimates. Revenue potential with embedded payments and embedded finance, Source: Adyen and Boston Consulting Group, Oct 2024 Early pioneers in the space are already achieving substantial success: Lightspeed, a Canadian e-commerce software provider, now makes 60% of its revenues from financial services; Toast, a restaurant point-of-sale (POS) and management system, earns 83% of its revenue from financial services, including integrated payments processing and other fintech products; and Shopify, a Canadian e-commerce firm, derives 74% of its revenue from its merchant solutions, primarily Shopify Payments. Despite the lucrative potential, only a handful of leading platforms are capturing the embedded finance opportunity, with an adoption rate below 20%. Market potential and growth projections Embedded finance remains a largely untapped opportunity. Out of the US$185 billion TAM, only US$32 billion has so far been captured, leaving 83% of the market up for grabs. The payment  vertical currently dominates the embedded finance landscape, recording the highest adoption rate with 54% of the US$47 billion already captured. The vertical still however holds considerable untapped potential. The account vertical has the largest TAM of US$75 billion and represents the biggest opportunity. Currently, only 4% of that market has been captured, or US$3 billion. Similarly, the capital vertical holds considerable potential with a TAM size of US$48 billion and yet a mere 7% penetration rate, or US$3 billion. Embedded finance total addressable market and market size per product, Source: Adyen and Boston Consulting Group, Oct 2024 Momentum for embedded finance is accelerating, with the market expected to double through 2030 and achieve an annual growth rate of 10-15%, the report says. North America and Europe will be leading this growth, with embedded finance in these regions projected to reach a combined US$61.5 billion. Emerging verticals including capital, accounts, and issuing, are forecasted to grow at a faster rate of around 20% annually, outpacing the more mature payments. Estimated embedded finance market size growth from 2024 to 2030, Source- Adyen and Boston Consulting Group, Oct 2024   This article first appeared on fintechnews.ae Featured image credit: edited from freepik The post Embedded Finance Market Surges to US$185B with Vast Untapped Potential appeared first on Fintech Schweiz Digital Finance News - FintechNewsCH.

Swiss Digital Asset trading company Wyden (former AlgoTrader) announced the closing of its CHF 14.5 million Series B round. It was financed by Truffle Capital, a Paris based global fintech investment firm, with participation from new investors PostFinance, SBI-Sygnum-Azimut Digital Asset Opportunity Fund, and FiveT Fintech, as well as existing investor C3 Venture Capital. Strategic expansion driven by global digital asset regulation Wyden will leverage these funds for strategic growth, targeting new markets and further intensifying its sell-side expansion for banks, brokers and exchanges. With a clear focus on regulatory compliance, Wyden plans to extend its reach into markets where digital asset operations are regulated with the same rigor as traditional financial services, such as the EU, Switzerland, Turkey, the UAE, Singapore, Hong Kong and Brazil. Wyden expands European development hubs and sales functions During 2025, the company aims to integrate up to 20 additional banks, brokers and exchanges into its ecosystem, supported by an expanded team of 100 professionals – with a core focus on strengthening both sales, marketing, product and delivery functions as well as Wyden’s development hubs in Poland. Wyden has been successfully increasing the number of regulated sell-side clients who rely on Wyden for their critical front, middle and back office digital asset functions. Current clients include renowned banks, online and neo-brokers such as Banque Delubac (France), Smartbroker+ and Baader Bank (Germany), Luzerner Kantonalbank and InCore Bank (Switzerland) and other large banking clients. Andy Flury Andy Flury, founder and CEO of Wyden, remarked, “We are thrilled to solidify our position as a global leader in institutional digital asset trading infrastructure with this Series B funding. Combined with our flagship product Wyden Infinity, we are well equipped to meet the surging demand for secure and efficient trading infrastructure for regulated financial services institutions.” Alexander Christen “With this investment, FiveT Fintech underscores its commitment to shaping the future of digital assets. By joining forces with Wyden’s leadership, we are ready to deliver the industry’s most advanced digital asset trading technology,” added Alexander Christen, Co-Founder and CEO of FiveT Fintech.       Featured image credit: Edited from freepik The post Wyden Secures CHF 14.5 Million Series B and Secures Postfinance, SBI and FiveT as New Investors appeared first on Fintech Schweiz Digital Finance News - FintechNewsCH.

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 and its potential benefits for capital markets, and examining how it can leverage network effects. As a member of the Project Guardian policymaker group, the Bundesbank will contribute to cross-border collaboration by working with other central banks and institutions to develop common standards and improve interoperability for this emerging technology. The bank will also play a role in the Asset & Wealth Management workstream, testing an interoperable blockchain platform for tokenised and digital funds. Project Guardian has three main goals: creating industry frameworks for asset tokenisation, establishing policy guidelines and standards, and developing a robust and sustainable digital asset ecosystem with real-world applications. Leong Sing Chiong Leong Sing Chiong, Deputy Managing Director (Markets and Development) of MAS, said, “We are delighted to welcome the Deutsche Bundesbank to Project Guardian. The Bundesbank’s expertise will be invaluable as we work together to enhance liquidity and efficiency of financial markets through asset tokenisation.” Burkhard Balz Burkhard Balz, Bundesbank’s Executive Board member, said, “MAS is working intensively on innovative topics that we are also dealing with in Europe, for example regarding how innovative technologies and concepts, such as distributed ledger technology (DLT) or blockchain, can be put to meaningful use in the financial sector. The Bundesbank is very pleased to be cooperating with a partner that is as competent as MAS.” This article first appeared on Fintech News Singapore.  Featured image credit: Edited from Wikipedia  The post Deutsche Bundesbank Joins Singapore-Led Project Guardian for Asset Tokenisation appeared first on Fintech Schweiz Digital Finance News - FintechNewsCH.

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 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 efficient and transparent way.” emphasizing: “Blockchain-based payment solutions for cross-border payments are a strategic focus for UBS. With the successful UBS Digital Cash pilot, we have reached another important milestone.” In the pilot, transactions with multinational clients and banks were successfully carried out, including domestic transactions within Switzerland and cross-border payments in US dollars, Swiss francs, Euros and Chinese yuan. In addition to that, the pilot also included the transfer of liquidity between various UBS companies. UBS plans to expand and develop its UBS Digital Cash offering in further steps. How does UBS Digital Cash work? For the payment process, UBS Digital Cash uses a private blockchain network to which only the permissioned clients have access. The settlement is performed via smart contracts, which, for example, automatically execute payments as soon as predefined conditions are met. Client transfers at UBS are recorded and processed in a digital system for recording transactions – independent of currency, practically in real time and around the clock. UBS Digital Cash complements UBS’s involvement in a wide range of market initiatives, such as the Swiss National Bank-led project Helvetia for real wholesale Swiss franc Central Bank Digital Currency (wCBDC), as well as the Agorá project, led by the Bank for International Settlements (BIS) together with seven central banks, to unlock central bank money and tokenized deposits from commercial banks in the cross-border payment context.   Featured image credit: edited from freepik The post Digital Cash: UBS Pilots Blockchain-Based Multi-Currency Payment Solution appeared first on Fintech Schweiz Digital Finance News - FintechNewsCH.

Switzerland took a significant step forward in the digital payments landscape with the successful launch of SIC Instant Payments (SIC IP) on 20 August 2024. As part of Phase 1, sixty-three financial institutions, covering more than 95% of Swiss retail payment transactions, have been integrated into the system. Notably, currently six banks can now both send and receive instant payments, and transaction volumes have already exceeded expectations, with up to 10,000 transactions processed daily, according to SIX. However, as Phase 2 approaches, challenges remain for the 180 financial institutions (FIs) in Group 2 that need to implement SIC IP by 2026. Therefore, in Bottomline’s latest SIC IP webinar series, experts who represent each part of the ecosystem provided their advice on how to ensure an efficient implementation. Phase 1 Successes: Collaboration and Preparation Are Key From SIX’s perspective, Phase 1 has been an overwhelming success. Matthias Sailer Matthias Sailer, Head of SIX Interbank Clearing (SIC AG), emphasised the importance of a well-coordinated process, “We’re two months into production, and the system is performing perfectly. Importantly, we learned that onboarding takes time and is not just for IT connections but for aligning back-office processes across financial institutions.” Sailer also highlighted the importance of testing, “We offer several testing environments, including buddy testing and open loop testing, to ensure that banks can iron out any potential issues before going live. This has been crucial in ensuring smooth integration and operational efficiency.” His message to Phase 2 participants was clear: “Start early and take advantage of the available SIC testing tools. Testing is free and invaluable.” The Challenges: Why 43% of Phase 2 Banks Have Yet to Begin Despite the clear benefits demonstrated in Phase 1, 43% of the 260+ financial institutions scheduled for Phase 2 implementation have not started their journey, according to webinar polling. 38% of respondents cite the cost and complexity of the process as the biggest barriers. However, the experts warned that delays could prove costly. “The deadline will come, and the sooner you begin, the more flexibility you’ll have in managing the onboarding and testing processes,” Sailer advised. Julien Lempen Julien Lempen, Project Portfolio Manager at Banque Cantonale Vaudoise (BCV), provided a real-world example of how early planning and collaboration drove success for his institution. “Our project took three years from planning to going live. We prioritised gaining expertise, making strategic choices, and testing extensively with partners, including clients and vendors.” Lempen’s key advice for Phase 2 participants? “Collaborate early, and don’t assume others share your understanding. Verify it.” Lessons for Phase 2 Banks: What You Need to Know For Phase 2 banks, several key lessons have emerged from Phase 1 that will be vital for successful implementation: 1. Collaboration Is Crucial: Instant payments touch every part of the banking infrastructure, from IT systems to customer service. As Julien Lempen noted, “Collaboration within your bank and across the financial community is the only way to ensure a smooth rollout.” 2. Test Extensively: According to both Sailer and Lempen, banks need to engage in thorough testing. This includes testing all possible use cases, not only within internal systems but also with partners and clients. “Real testing with real payments is the best way to identify issues before going live,” Lempen advised. 3. Start Early and Stay Agile: Despite the complexity of instant payment systems, early preparation can ease the process. Vitus Rotzer Vitus Rotzer, Chief Product Officer – Financial Messaging at Bottomline stressed, “The phased approach of SIC IP will help Group 2 banks. The infrastructure is already in place, and proven solutions exist. Starting early will provide your institution with flexibility in adjusting to the demands of 24/7 payments.” 4. Leverage Proven Solutions: Group 2 banks can leverage many solutions developed during Phase 1. From connectivity tools to back-office adjustments, these solutions will enable faster implementation and reduce the potential for costly mistakes. The Road Ahead: A Call to Action for Group 2 FIs Implementing instant payments is not just an IT project; it impacts all facets of a bank’s operations, from customer interaction to financial reporting. The good news is that if institutions start planning now, it’s achievable within a 12-month timeframe. As Rotzer succinctly put it: “Start early, get help if needed, and make use of proven solutions. The deadline may seem distant, but the complexity of this process means it’s never too early to begin.” For those banks in Group 2, now is the time to accelerate planning and implementation efforts. The lessons from Phase 1 are clear: collaboration, testing, and early preparation are the keys to success. A Future-Ready Swiss Payment Ecosystem The successful rollout of SIC IP marks a pivotal moment in Switzerland’s journey towards a fully digital payment landscape. With the Swiss National Bank and SIX leading the way, instant payments are set to become the norm by 2026. For financial institutions, the stakes are high, and the competitive advantage will go to those who prepare and adapt early. To find out more, watch Bottomline’s webinar SIC Instant Payments: Impact and Lessons Learned from Phase 1 Implementation in full. The post Payments in Switzerland: Key Insights from Phase 1 of SIC IP Implementation appeared first on Fintech Schweiz Digital Finance News - FintechNewsCH.

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. Tom Ulrich “We are honored to partner with Jumio to help advance the performance and safety of their identity verification solutions. Our collaboration enables Jumio to accelerate AI innovation, while ensuring compliance with upcoming regulations like the EU AI Act.” said Tom Ulrich, SVP & GM of North America at LatticeFlow AI. Alix Melchy “Ensuring that our AI models are both safe and reliable is critical to providing the highest level of protection for our customers. By partnering with LatticeFlow AI, we’re taking a proactive approach to identifying potential risks and enhancing the security of our AI models. This partnership is not just about improving performance — it’s about staying ahead of industry regulations and ensuring compliance with emerging AI standards.” said Alix Melchy, Jumio VP of AI. Featured image credit: Edited from Freepik The post Jumio Prepares for EU AI Act with LatticeFlow AI Partnership appeared first on Fintech Schweiz Digital Finance News - FintechNewsCH.

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 information and execute remote commands from a server controlled by the perpetrators. Threat actors behind the campaign appear to have targeted victims in the trading and fintech sectors, as technical indicators suggest the malware was likely distributed via Telegram channels focused on these topics. The campaign was global, as Kaspersky has identified victims in more than 20 countries across Europe, Asia, Latin America, and the Middle East. The infection chain analysis reveals the attackers were most likely attaching malicious archives to posts in Telegram channels. The archives themselves, such as RAR or ZIP files, were not malicious, but they contained harmful files with extensions like .LNK, .com, and .cmd. If potential victims launched these files, it leads to the installation of the final-stage malware, DarkMe, in a series of actions. Maher Yamout “Instead of using traditional phishing methods, threat actors relied on Telegram channels to deliver the malware. In earlier campaigns, we also observed this operation using other messaging platforms, such as Skype, as a vector for initial infection. This method may make potential victims more inclined to trust the sender and open the malicious file than in the case with a phishing website. Additionally, downloading files through messaging apps may trigger fewer security warnings compared to standard internet downloads, which is favourable for the threat actors,” explains Maher Yamout, Lead Security Researcher from GReAT. “While we typically advise vigilance against suspicious emails and links, this campaign highlights the need for caution when dealing even with instant messaging apps like Skype and Telegram.” In addition to using Telegram for malware delivery, the attackers improved their operational security and post-compromise cleanup. After installation, the malware removed the files used to deploy the DarkMe implant. To further hinder analysis and try to evade detection, perpetrators increased the implant’s file size and deleted other footprints, such as post-exploitation files, tools, and registry keys, after achieving their goal. Deathstalker, previously known as Deceptikons, is a threat actor group active since at least 2018, and potentially since 2012. It is believed to be a cyber-mercenary or hacker-for hire group where the threat actor seems to have competent members who develop in-house toolsets, and understand the advanced persistent threat ecosystem. The group’s primary goal is collecting business, financial and private personal information, possibly for competitive or business intelligence purposes serving their clientele. They typically target small and medium businesses, financial, fintech, law firms, and on a few occasions, governmental entities. Despite going after these types of targets, DeathStalker has never been observed stealing funds, which is why Kaspersky believes it to be a private intelligence outfit. The group also has an interesting tendency to attempt to avoid attribution of their activities by mimicking other APT actors and incorporating false flags.   Featured image credit: edited from freepik The post Kaspersky Uncovers Global Cybercrime Campaign Targeting Fintech Users via Telegram appeared first on Fintech Schweiz Digital Finance News - FintechNewsCH.

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 a cross-border digital bond transaction in November 2023. Thomas Kaegi Thomas Kaegi, Co-Head of UBS Asset Management APAC, said, “We have seen growing investor appetite for tokenised financial assets across asset classes. Through leveraging our global capabilities and collaborating with peers and regulators, we can now provide clients with an innovative solution.”     This article first appeared on fintechnews.sg Featured image credit: Edited from Freepik The post UBS AM Debuts Its First Tokenised Fund, Expanding Blockchain Initiatives appeared first on Fintech Schweiz Digital Finance News - FintechNewsCH.

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 die Produktkosten berechnet. Daher sollten immer beide Gebührenarten betrachtet werden. Je nach Wahl der Anlagestrategie oder Anlageprodukte können bei einzelnen Apps auch unterschiedlich hohe Gebühren anfallen. Digitale Vorsorgelösungen günstiger als klassische Vorsorgefonds Die Gesamtkosten der Vorsorge-Apps liegen zwischen minimal 0.13 Prozent und maximal 1.2 Prozent pro Jahr. Benjamin Manz «Im Vergleich zu klassischen Vorsorgefonds sind viele digitale Vorsorgeangebote deutlich günstiger», sagt Benjamin Manz, Geschäftsführer von moneyland.ch. Klassische Vorsorgefonds kosten im Durchschnitt mehr als 1 Prozent pro Jahr. Allerdings gibt es einzelne Vorsorgefonds, die ähnlich günstig oder sogar noch günstiger sein können als einige Vorsorge-Apps. Vergleichen lohnt sich deshalb. Tabelle: Kosten der digitalen Vorsorgelösungen Anbieter Pauschalgebühren pro Jahr Produktkosten pro Jahr (TER) Gesamtkosten bench (GLKB) Max. 0.8% Inklusive Max. 0.8% Descartes 0.65%-0.8% Inklusive 0.65%-0.8% finpension 0.39% (Freizügigkeit: 0.49%) 0%-0.03% 0.39%-0.42% (Freizügigkeit: 0.49%-0.52%) fluks 3a* 0.6% 0% 0.6% frankly (ZKB) 0.44% 0%-0.04% 0.44% freeme (GLKB) 0.55% 0.2%-0.65% 0.75%-1.20% GKB Gioia 3a 0.1% 0.62%-0.92% 0.72%-1.02% Inyova 0.8% Inklusive 0.8% LibertyGreen 0.4% Inklusive 0.4% Selma Finance 0.68%-0.42% (je nach Vermögen) 0.22% 0.64%-0.9% Swissquote 3a Easy 0.6% (erste 6 Monate gratis) Inklusive 0.6% (erste 6 Monate gratis) Tellco Bank Keine 0.61%-0.74% (je nach Fonds) 0.61%-0.74% True Wealth Keine 0.13%-0.21% 0.13%-0.21% Viac 0%-0.44% Inklusive Max. 0.44% Yuh 0.5% Inklusive 0.5% Alphabetische Sortierung. * fluks 3a: Im Rahmen des E-Bankings der LUKB. Wie die richtige Vorsorge-App wählen? Bei der Auswahl der richtigen Vorsorge-App sind die Kosten ein wichtiges, aber nicht das einzige Kriterium. Weitere Kriterien sind die Auswahl der verwendeten Finanzprodukte, die Benutzerfreundlichkeit der App und der Kundenservice. Was die Benutzerfreundlichkeit der App betrifft, lohnt es sich, vorab einen Blick auf Apps und auf allfällige Kundenbewertungen zu werfen. Wer Wert auf nachhaltige Anlagen legt, kann sich bei der Auswahl auf nachhaltige Lösungen beschränken. Säule 3a: Aktienlösung oder Sparkonto? Vorsorge-Apps investieren hauptsächlich in Aktien und einige andere Anlageklassen, oft über Exchange Traded Funds (ETF). Der Anlagehorizont sollte deshalb wie bei allen Aktienanlagen langfristig sein, idealerweise mindestens 8 bis 10 Jahre. Dazwischen können auch verlustreiche Jahre liegen. Langfristig schneiden gut diversifizierte Aktienlösungen deutlich besser ab als Sparkonten, das gilt auch für Vorsorge-Apps. «Wer bei einer Aktienanlage nicht ruhig schlafen kann oder kurz vor der Pensionierung steht, soll sich eher für ein 3a-Sparkonto entscheiden», sagt Manz. The post So viel kosten die Vorsorge-Apps in der Schweiz appeared first on Fintech Schweiz Digital Finance News - FintechNewsCH.

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 US$12.7 million, compared to US$13.2 million for full-year 2023. This suggests that dealmakers narrowed their focus to fewer but higher-dollar transactions instead of spreading their investments across a broad range of companies. Average deal size and deal count, Source: State of Fintech Q3 2024, CB Insights, Oct 2024 Wealthtech bucks the trend Wealthtech was the standout fintech vertical in Q3 2024, recording a 67% QoQ increase in funding, which rose from US$600 million in Q2 2024 to US$1 billion in Q3 2024. This growth was fueled by two substantial deals in the US: a US$242 million Series F for retirement plan provider Human Interest, and a US$200 million Series B for Earned Wealth, a digital digital wealth manager target medical professionals. These transactions ranked as the second and fourth largest equity deals of Q3 2024, respectively. Average deal size and deal count, Source: State of Fintech Q3 2024, CB Insights, Oct 2024 Digital lending sees robust growth Digital lending also saw growth in Q3 2024, with funding rising 44% QoQ from US$900 million in Q2 2024 to US$1.3 billion in Q3 2024. This trend was driven by Asia, which secured 46% of all digital lending funding at US$600 million for the quarter. Digital lending funding and deals by region in Q3 2024, Source: State of Fintech Q3 2024, CB Insights, Oct 2024 Notably, India led the way with some of the largest digital lending transactions in Q3 2024, including DMI Finance’s US$334 million round, M2P’s US$103 million Series D, FlexiLoans’ US$35 million Series C, and Auxilo’s US$33 million Series B. Asia spotlight: funding in India surges; Singapore sees decline India was the only market in Asia in CB Insights’ report to record an increase in fintech funding in Q3 2024, which doubled QoQ from US$400 million in Q2 2024 to US$800 million in Q3 2024. However, deal count declined 19%, suggesting fewer and bigger transactions. Quarterly funding and deals in India, Source: State of Fintech Q3 2024, CB Insights, Oct 2024 Conversely, Singapore experienced a notable decline, with fintech funding halving from US$400 million in Q2 2024 to US$200 million in Q3 2024. Deal count also dipped, falling 34% QoQ from 41 to 27. Singapore’s top equity deals for the quarter included Partior’s US$60 million Series B, SDAX’s US$50 million Series B2, and WSPN’s US$30 million seed venture capital (VC). Quarterly funding and deals in Singapore, Source: State of Fintech Q3 2024, CB Insights, Oct 2024 Across Asia, fintech funding declined 12.5% QoQ to US$1.4 billion in Q3 2024, with deal count falling 18.7% QoQ to 175 transactions. Quarterly funding and deals in Asia, Source: State of Fintech Q3 2024, CB Insights, Oct 2024 Featured image credit: edited from freepik The post Fintech Funding Falls 25%; Quarterly Deal Count Reaches Lowest Level Since 2017 appeared first on Fintech Schweiz Digital Finance News - FintechNewsCH.