Fintech is conquering the world from Zurich
InnovationThe Zurich financial centre is where tradition and high-tech come together, where innovative startups meet established banks, as the financial landscape is being reshaped by blockchain and cryptocurrencies.
First of all – what is fintech?
DefinitionFintech, short for financial technology, refers to the use of modern technologies to optimise and innovate financial services.
#1 Innovative
These modern technologies include digital innovations for the provision of financial services.
#2 Multifaceted
Fintech includes a host of technologies ranging from mobile payment systems and cryptocurrencies right up to robo-advisors and digital banks.
#3 Efficient
The aim of fintech is to make traditional financial services more efficient, more accessible and more innovative.
Seven reasons why fintech in Zurich is a global leader
UpswingThe Zurich financial centre is one of the leading fintech hubs worldwide. According to the Global Fintech Hub Ranking, Zurich boasts the third-largest potential for entrepreneurship, innovation and financial technologies – beaten only by Singapore and Stockholm, but ahead of London, Amsterdam, New York City and Hong Kong. Here are seven reasons for the upswing of fintech at the Zurich financial centre.
Fintech ecosystem
Zurich is a major centre for fintech with a growing number of startups and established companies. In 2023, there were 193 companies operating in the domain of fintech in the Canton of Zurich.
Blockchain and cryptocurrencies
The Zurich financial centre plays a leading role in the development of blockchain technologies and as a centre for crypto innovations.
A favourable place for entrepreneurs
The City of Zurich offers a progressively minded environment, efficient authorisation processes and a large talent pool.
Fintech startups
Zurich is home to a growing number of fintech startups that operate in a wide range of areas ranging from payment services and insurance technology to robo-advisors.
Fintech events and networks
Fintech and networking events are regularly held in Zurich that promote exchange and dialogue between fintech companies, investors and other stakeholders.
Digital banking and payment service providers
The Zurich financial centre is home to digital banks and innovative payment service providers who are transforming traditional financial services in collaboration and in competition with well-established providers by using modern technologies.
Fintech academies and educational institutions
Educational institutions in Zurich offer specialised programmes and courses in the domain of fintech, in order to ensure availability of qualified specialists for this growing industry.
Exploring fintech at the highest level
InnovationZurich’s finance industry is shaping its future with forward-thinking digitisation and innovative approaches. The focus is on digital channels and automated processes, as the region becomes a dynamic centre for aspiring and innovative companies.
Swiss FinTech Innovation Lab
The Swiss FinTech Innovation Lab at the University of Zurich is a research programme focused on global innovations through financial technology (fintech). It brings together researchers from various disciplines, including banking, finance, business informatics, innovation management, strategic management, marketing, social sciences and economics.
Further information: fintech.uzh.ch
Trust Square
Trust Square is a research and development centre for the technologies of blockchain, cybersecurity, Internet of things and artificial intelligence, and that also focuses on integrating these technologies in society.
Further information: trustsquare.ch
Tenity
Tenity (formerly F10) promotes collaboration by bringing together ambitious founders with leading corporations, forward-thinking investors and committed mentors. With this network, Tenity as an early-stage investor creates an ecosystem that lays the foundation for advancing the future of finance.
Further information: tenity.com
Swiss Fintech
Swiss Fintech is a non-profit organisation that creates synergies, joins forces and drives change at the financial centre. Above all, the organisation is committed to improving the startup environment and reducing regulatory hurdles.
Further information: swissfinancestartups.com
Swiss Finance + Technology Association
This independent and charitable association is working as a centre to foster the development of the Swiss fintech ecosystem and to promote Switzerland’s position as a leading international fintech hub.
Further information: swissfinte.ch
Five reasons why fintech is thriving in Switzerland
SuccessfulIn the dynamic environment of the global fintech movement, Switzerland is carving its role as an engine for fintech innovation and is ready to shape the future of the financial world.
Switzerland as a fintech pioneer
Switzerland has established itself as a major location on the global fintech map. In the competition of global fintech centres, Switzerland is on a par with Singapore, Stockholm, London, New York and Hong Kong.
Innovative power from the lecture halls
The Federal Institute if Technology (ETH) in Zurich and the École Polytechnique Fédérale de Lausanne (EPFL) are key drivers of innovation. Their students develop groundbreaking ideas that form the basis for fintech startups. The link between science and entrepreneurship sets the stage for creative ideas that are transforming the finance industry.
Good opportunities
Switzerland offers excellent framework conditions, e.g. through the introduction of a special fintech licence: issued by the Swiss Financial Market Authority (FINMA), the licence emphasises Switzerland’s commitment to promote financial innovations.
Regulatory support
The Swiss government and the supervisory authorities actively support fintech innovations by making regulatory adjustments in order to promote the development of new technologies.
Infrastructure
Switzerland features not only cutting-edge technical infrastructure, but also offers an excellent supply of financial services and capital.
Further information
Downloads & links
- IFZ FinTech Study 2024 der Hochschule LuzernDie Hochschule Luzern publiziert jedes Jahr die «IFZ FinTech Study». Die Studie bietet mit der Ausgabe 2024 bereits zum achten Mal eine umfassende Übersicht zum Schweizer FinTech-Sektor.
- Swiss FinTech Map The Swiss FinTech Map is an interactive map that depicts the fintech ecosystem and dynamically connects the individual stakeholders. The map is a joint endeavour of e.foresight, Swisscom, IFZ and Clara.
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