moneycab: As a technological approach, data-driven banking is dependent on the technological capability of banks and their customers. Where does Switzerland stand by international standards?
René: Technological development in recent years has been tremendous, and the trend indicates further acceleration. Switzerland is fundamentally in an excellent position here. We have a favourable environment for FinTechs and excellent universities that play in the top league technologically. This is also reflected in the strong appeal for the many large international companies.
Today, users across all age groups are already using many new technologies, namely smartphones and apps with great user experience (UX). Bank customers also expect a top UX as well as the use of these new technologies.
When it comes to specific implementation by banks, we still perceive some restraint. However, the new technologies offer significant potential to efficiently serve customers in various segments. This includes customers who require a lot of advice with specific insights and recommendations, as well as customers with little to no advisory needs with an efficient yet individualised approach.
To enhance competitiveness, Swiss financial institutions should promote innovation and FinTech solutions. For me, this also includes collaboration with FinTechs and start-ups. The development of innovative financial products and services, the promotion of open banking, and the integration of AI solutions are all part of this.