3 FinTech companies based in Switzerland

By Joy Dumasia

FinTech refers to software and other modern technologies used by businesses that provide automated and improved financial services. FinTech in our daily life is Mobile Payment apps, Cryptocurrency and Blockchain like Bitcoin and Gemini. In the future, the range of FinTech services is predicted to transform the market even more with AI and machine learning and will make FinTech products an integral part of our digitalised life.

FinTech’s role in society is becoming more vital than ever, mainly due to Covid-19. FinTech can be used anywhere, by anyone meaning it becomes accessible to people who may never have taken advantage of financial services before. Through access to essential financial services such as mobile money and e-wallets, FinTech companies are helping lift people out of poverty and create a more financially inclusive world.

FinTech companies are driving real change for consumers and businesses alike. The unbundling of financial services allows FinTech start-ups and scaleups to provide more efficient and streamlined offerings and disrupt traditional banking, payment, and lending services.

The following are 3 FinTech companies based in Switzerland:

• Temenos

Headquartered in Geneva, Temenos specializes in enterprise software for banks and financial services. Temenos offers core banking systems to retail, corporate, universal, private, treasury, fund administration, Islamic, microfinance and community banks.

Temenos powers a world of banking that creates opportunities for people and businesses everywhere. Temenos enables growth for two-thirds of the world’s top 1,000 banks and 70+ challenger banks in 150+ countries.

Recently, IBS Intelligence reported that Temenos launched ESG Investing-as-a-service, helping banks and wealth managers meet the growing demand for sustainable investing. The offering was unveiled to 1,500 banking and FinTech executives at Temenos Community Forum in London.

• Avaloq

Founded in 1985, Avaloq is a Swiss FinTech company that develops and provides software for core banking. The company has a fully integrated banking software and creates digital experiences provided through a standardised Business Process as a Service (BPaaS) or Software as a Service (SaaS) model to banks and wealth managers. Avaloq is driving the digital transformation and automation of the financial services industry.

IBS Intelligence reported that Brewin Dolphin, one of the UK’s largest wealth managers, has gone live with Avaloq‘s cloud-based Software as a Service (SaaS) solution. The partnership is part of Brewin Dolphin’s ambitious technology upgrade programme and will transform its core processing solution by enhancing its digital capabilities.

• Additiv

Founded in 1998 and headquartered in Zurich, additiv enables financial institutions to capitalise on digitalisation. Its DFS solution lets FIs launch new propositions quickly and allows them to maximise customer engagement.

IBS Intelligence also reported that SaaS provider to the wealth management industry, additiv, announced a partnership with data science tech platform Clarity AI in a bid to provide wealth managers sustainability insights to build smarter portfolios, provide client support and comply easily with regulation.

ALSO READ: Global FinTech Use Cases Report 2021