FinTech in Switzerland finally wakes up
Unlike its major financial rivals, led by the United States, the Swiss so far do not seem to be paying much attention to Fintech companies. Nevertheless, the coming year should allow the country to make up for some of the lost time: The first start-ups, which rethink the model of finance through technological innovation, are beginning to reap the fruits of their labour. Today there are nearly 111 Fintech start-ups in Switzerland, but the big players – with banks and insurers in the lead – are also beginning to catch on to this trend. One of the main obstacles to the development of the sector in Switzerland lies in the difficulty of raising funds. Indeed, these companies need immediate funding to develop their technological concepts, and rely on fund-raising from business angels, investment funds, or important market players. Though the Zurich-based start-up Knip was able to get almost 15 million francs through its fund-raiser at the end of 2015, it remains far short of the hundreds of millions of dollars invested on the other side of the Atlantic.
The law must change
The broker must take its place
Shorthand term originating from the contraction of the term “Financial Technology”. It refers to companies using new technologies to rethink the world of financial services.
1 out of 11
The share of Fintech start-ups worldwide based in Switzerland, totalling 111 companies (IG Bank study, 2015).
The total funds invested in Fintech companies worldwide in 2014, in billions of dollars (IG Bank study, 2015).
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Be sure to contact Swiss Risk & Care to take part in this revolution, and actively participate in our digital environment, which favours co-construction as an agile methodology: email@example.com