Mid Year Report 1 January – 30 June 2012
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Strategy of Swiss Banking Sector Towards Digitalization Trends
UDC: 336.7/005.91:005.21]:004(494) STRATEGY OF SWISS BANKING SECTOR TOWARDS DIGITALIZATION TRENDS Sead Jatic1, Milena Ilic2, Lidija Miletic3, Aca Markovic4 1Finance-Doc Multimanagement AG, Zürich, Switzerland 2Information Technology School - ITS, Belgrade, Serbia 3Information Technology School - ITS, Belgrade, Serbia 4Faculty of business studies and law, University “Union - Nikola Tesla”, Belgrade, Serbia, [email protected] Abstract: Many fields of management in contemporary banking organizations have flourished due to advancement in engineering and technology particularly, in the IT sector. Innovations which lead to digitalization assisted banks in improving business processes, ensuring competitive advantage, achiev- ing better business results and, finally, gaining higher profits. The process of digitalization in banking requires a simple approach in order to make use of banking services by means of modern technologies easier, faster and cheaper. Digitalization in banking forced modern banks to reassess and change their traditional business methods that are for the most part based on the existence of “bricks-and-mortar” physical locations and to replace them with modern distribution channels, namely modern media, and the banking services based on them. Keywords: banks, banking sector, business models, digitalization, innovation 1. INTRODUCTION Digitalization is a process which shall engage all banks in the global market in the future, and banks that had recognized the importance of this process have already begun prospering in the market. The process of digitalization refers to an organized, concise ap- proach in which the services are provided in a far more simple and rapid way due to the im- plementation of modern technology. The purpose of research paper to analyze the influence that digitalization has on contemporary banks’ management and to establish the perspec- tive of this process in the future. -
Swiss Banking Business Models of the Future Download the Report
Swiss Banking Business Models of the future Embarking to New Horizons Deloitte Point of View Audit. Tax. Consulting. Financial Advisory. Contents Management summary 2 Overview of the report 5 Chapter 1 – Key trends impacting banking 6 Chapter 2 – Disruptive innovations reshaping banking 17 Chapter 3 – Likely scenarios for banking tomorrow 26 Chapter 4 – Future business model choices 31 Chapter 5 – Actions to be taken 39 Contact details 43 The banking market in Switzerland is undergoing significant change and all current business models are under scrutiny. Among several universal trends and Switzerland-specific market factors affecting banks and their customers, ‘digitisation’ is the most significant. In addition upcoming new regulations will drive more changes to business models than any regulations in Switzerland have ever done before. Deloitte has produced this report, based on extensive research and fact-finding, to assess how major trends and disruptive innovations will re-shape the business of banking in the future. The report addresses the following questions: • What are the key trends affecting banks and their customers? • What are the main innovations that are being driven by these key trends? • Which scenarios can be predicted for the banking industry of tomorrow? • What will be the most common business models for banks in the future? • How should banks make their strategic choice? This report will not give you definite answers, but it should indicate how to start addressing the question: “Where do we want to position ourselves in the banking market of the future?” Yours sincerely, Dr. Daniel Kobler, Partner Jürg Frick, Senior Partner Adam Stanford, Partner Lead Author, Banking Innovation Leader Banking Industry Leader Consulting Leader Financial Services Swiss Banking Business Models of the future Embarking to New Horizons 1 Management summary (1/3) Digitisation as a main Banks need to adapt their business models to key trends and disruptive innovations that are driver of change already having an impact on society and the economy. -
Benchmarking Mobile Banking in Switzerland Today
BENCHMARKING MOBILE BANKING IN SWITZERLAND TODAY CAPCO DIGITAL SWITZERLAND TABLE OF CONTENTS Introduction .................................................................................................................................................................................. 01 Key Findings ................................................................................................................................................................................. 02 Mobile Banking Is Reaching a New Threshold ................................................................................................................................. 03 Is Omnichannel Dead? .................................................................................................................................................................. 05 It’s Not Just Apps – It’s the Products and Pricing ............................................................................................................................. 06 Capco 2020 Mobile Banking Benchmark ........................................................................................................................................ 08 Digital Pricing Strategy .................................................................................................................................................................. 12 Concluding Thoughts .................................................................................................................................................................... -
Doing Business in Switzerland: 2014 Country Commercial Guide for U.S
Doing Business in Switzerland: 2014 Country Commercial Guide for U.S. Companies INTERNATIONAL COPYRIGHT, U.S. & FOREIGN COMMERCIAL SERVICE AND U.S. DEPARTMENT OF STATE, 2012. ALL RIGHTS RESERVED OUTSIDE OF THE UNITED STATES. Chapter 1: Doing Business In Switzerland Chapter 2: Political and Economic Environment Chapter 3: Selling U.S. Products and Services Chapter 4: Leading Sectors for U.S. Export and Investment Chapter 5: Trade Regulations, Customs and Standards Chapter 6: Investment Climate Chapter 7: Trade and Project Financing Chapter 8: Business Travel Chapter 9: Contacts, Market Research and Trade Events 1 Chapter 1: Doing Business in Switzerland Market Overview Market Challenges Market Opportunities Market Entry Strategy Market Overview Return to top Switzerland’s population of 8 million is affluent and cosmopolitan GDP of about USD 631 billion; growth forecast of 2.2% for 2014 In 2013 total exports from the U.S. to Switzerland amounted to USD 27 billion. U.S.-Swiss trade generally stable despite financial and economic crisis; World-class infrastructure, business-friendly legal and regulatory environment Highly educated, reliable, and flexible work force Consumer and producer of high-quality, value-added industrial/consumer goods Manufacturing sector is highly automated and efficient Strong market demand for U.S. components and production systems Strong demand for high quality products with competitive prices Highest per capita IT spending in the world Multilingual/multicultural European test market and -
Swiss Money Secrets
Swiss Money Secrets Robert E. Bauman JD Jamie Vrijhof-Droese Banyan Hill Publishing P.O. Box 8378 Delray Beach, FL 33482 Tel.: 866-584-4096 Email: http://banyanhill.com/contact-us Website: http://banyanhill.com ISBN: 978-0-578-40809-5 Copyright (c) 2018 Sovereign Offshore Services LLC. All international and domestic rights reserved. No part of this publication may be reproduced or transmitted in any form or by any means, electronic or mechanical, including photocopying and recording or by any information storage or retrieval system without the written permission of the publisher, Banyan Hill Publishing. Protected by U.S. copyright laws, 17 U.S.C. 101 et seq., 18 U.S.C. 2319; Violations punishable by up to five year’s imprisonment and/ or $250,000 in fines. Notice: this publication is designed to provide accurate and authoritative information in regard to the subject matter covered. It is sold and distributed with the understanding that the authors, publisher and seller are not engaged in rendering legal, accounting or other professional advice or services. If legal or other expert assistance is required, the services of a competent professional adviser should be sought. The information and recommendations contained in this brochure have been compiled from sources considered reliable. Employees, officers and directors of Banyan Hill do not receive fees or commissions for any recommendations of services or products in this publication. Investment and other recommendations carry inherent risks. As no investment recommendation can be guaranteed, Banyan Hill takes no responsibility for any loss or inconvenience if one chooses to accept them. -
Private Banking in Switzerland and Liechtenstein: Are Its Days Numbered?
www.pwc.ch Private banking in Switzerland and Liechtenstein: are its days numbered? Our study is aimed at supporting private banks in successfully positioning themselves in the challenging Swiss private banking industry. October 2016 2 PwC Contents Foreword 3 The development of the private banking business in Switzerland in recent years, and a look into the future 5 Number of banks in Switzerland 6 Developments on the income side 8 Assets under management and net new money 8 Gross margin 9 Developments on the cost side 10 Number of employees 10 Personnel expense 10 General and administrative expenses 12 Cost/income ratio 13 US tax dispute 14 Position in international cross-border wealth management 15 Summary 16 The development of the private banking business in Liechtenstein in recent years, and a look into the future 17 Number of banks in Liechtenstein 18 Developments on the income side 19 Assets under management and net new money 19 Gross margin 20 Developments on the cost side 21 Number of employees 21 Personnel expense 21 General and administrative expenses 23 Cost/income ratio 23 Position in international cross-border wealth management 24 Summary 25 Abbreviations and definitions 26 Authors and contacts 27 Private Banking Study 2016 3 Foreword Are the days of private banking in Switzerland and to get into the market and challenge traditional players. Liechtenstein numbered? If you’re to believe what many It’s fascinating to speculate whether these new offerings experts and the media have been claiming recently, they will catch on or whether clients will stick to the traditional are: with the advent of the process to regularise untaxed banks for reasons of trust or because they’re uncertain. -
SWITZERLAND Executive Summary
Underwritten by CASH AND TREASURY MANAGEMENT COUNTRY REPORT SWITZERLAND Executive Summary Banking Switzerland’s central bank, the Swiss National Bank (SNB), is an independent body with sole responsibility for monetary policy as well as other central bank functions, such as banker to the state, lender of last resort and issuer of notes and coin. The SNB is also charged with maintaining economic stability and growth, but regulatory supervision is undertaken by the Swiss Financial Market Supervisory Authority (FINMA). Switzerland imposes no central bank reporting requirements and Swiss banking law makes no distinction between accounts held by resident and non-resident entities. As such, both resident and non-resident entities may hold fully convertible domestic and foreign currency bank accounts within and outside Switzerland. The banking system is dominated by Switzerland’s two global universal banks, UBS and Credit Suisse, but also includes 24 cantonal (state guaranteed) banks, 57 regional and savings banks, and many domestic and foreign-owned private banks and wealth management firms. The Raiffeisen credit-cooperative organization has 271 member banks and the Swiss Post’s PostFinance arm plays a major role in retail banking. A significant number of international banks are present in Switzerland. Payments Switzerland’s SIC (SIX Interbank Clearing) system clears all payments regardless of value, but PostFinance also clears credit transfers and direct debits bilaterally. Electronic credit transfers are the dominant cashless payment method in Switzerland and by far the most common means of business-to-business payment. Direct debits are also commonplace, and a direct debit scheme for company payments was introduced in 2006. -
Schweizer Soziolinguistik--Soziolinguistik Der Schweiz (Swiss Sociolinguistics--Sociolinguistics in Switzerland)
DOCUMENT RESUME ED 384 204 FL 021 726 AUTHOR Werlen, Iwar, Ed. TITLE Schweizer Soziolinguistik--Soziolinguistik der Schweiz (Swiss Sociolinguistics--Sociolinguistics in Switzerland). INSTITUTION Neuchatel Univ. (Switzerland). Inst. de Linguistique. REPORT NO ISSN-0251-7256 PUB DATE Oct 93 NOTE 230p.; Seven articles in German; three in French; two in Italian; one in English. PUB TYPE Collected Works Serials (022) LANGUAGE French; German; Italian; English JOURNAL CIT Bulletin CILA; n58 Oct 1993 EDRS PRICE MF01/PC10 Plus Postage. DESCRIPTORS Bilingualism; Communication (Thought Transfer); English; Foreign Countries; German; International Trade; Language Attitudes; Language Variation; Multilingualism; Official Languages; *Second Languages; Social Networks; *Sociolinguistics; Written Language IDENTIFIERS Germany; *Switzerland ABSTRACT The 13 articles in this serial issue are as follows (with all titles translated into English); "Swiss Sociolinguistics--Sociolinguistics in Switzerland" (Iwar Werlen); "Public Space, Medias, and Identities of Language. Reference Points for an Analysis of the Swiss Imaginary Collective"; (Jean Widmer); "Anthropological and Sociolinguistic Approach to the Question of Languages in Switzerland" (Uli Windisch, Didier Froidevaux); "The Speech Contents of Bilingual Pairs and Families in Freiburg" (Claudine Brohy); "Themes of Swiss Sociolinguistics as Reflected by Public Opinion" (Urs Durmuller); "Multilingualism: Preliminaries from the Results of the Language Data from the 1990 Census" (Rita Franceschini); "English -
The Performance of Universal Banks: Evidence from Switzerland
A Service of Leibniz-Informationszentrum econstor Wirtschaft Leibniz Information Centre Make Your Publications Visible. zbw for Economics Rime, Bertrand; Stiroh, Kevin J. Working Paper The Performance of Universal Banks: Evidence from Switzerland Working Paper, No. 01.03 Provided in Cooperation with: Study Center Gerzensee, Swiss National Bank Suggested Citation: Rime, Bertrand; Stiroh, Kevin J. (2001) : The Performance of Universal Banks: Evidence from Switzerland, Working Paper, No. 01.03, Swiss National Bank, Study Center Gerzensee, Gerzensee This Version is available at: http://hdl.handle.net/10419/128007 Standard-Nutzungsbedingungen: Terms of use: Die Dokumente auf EconStor dürfen zu eigenen wissenschaftlichen Documents in EconStor may be saved and copied for your Zwecken und zum Privatgebrauch gespeichert und kopiert werden. personal and scholarly purposes. Sie dürfen die Dokumente nicht für öffentliche oder kommerzielle You are not to copy documents for public or commercial Zwecke vervielfältigen, öffentlich ausstellen, öffentlich zugänglich purposes, to exhibit the documents publicly, to make them machen, vertreiben oder anderweitig nutzen. publicly available on the internet, or to distribute or otherwise use the documents in public. Sofern die Verfasser die Dokumente unter Open-Content-Lizenzen (insbesondere CC-Lizenzen) zur Verfügung gestellt haben sollten, If the documents have been made available under an Open gelten abweichend von diesen Nutzungsbedingungen die in der dort Content Licence (especially Creative Commons Licences), you genannten Lizenz gewährten Nutzungsrechte. may exercise further usage rights as specified in the indicated licence. www.econstor.eu THE PERFORMANCE OF UNIVERSAL BANKS: EVIDENCE FROM SWITZERLAND Bertrand Rime and Kevin J. Stiroh Working Paper No. 01.03 This discussion paper series represents research work-in-progress and is distributed with the intention to foster discussion. -
Banking Barometer 2020 Economic Trends in the Swiss Banking Industry
September 2020 Banking Barometer 2020 Economic trends in the Swiss banking industry 2 Swiss Bankers Association | Banking Barometer 2020 Content Executive Summary 4 I. The Swiss banking sector 16 I. 1 The economic impact of COVID-19 17 I. 2 Economic policy environment 20 I. 3 Structural change 30 I. 4 Regulation 38 I. 5 Tax and compliance 44 II. Consolidated trend in Switzerland’s banks 52 II. 1 Banks’ net income 52 II. 1.1 Trends in 2019 54 II. 1.2 Trends in 2020 60 II. 2 Balance sheet 61 II. 2.1 Trends in 2019 61 II. 2.2 Trends in 2020 71 II. 3 Assets under management 73 II. 3.1 Trends in 2019 73 II. 3.2 Trends in 2020 78 II. 4 Number of staff at banks in Switzerland 79 II. 4.1 Trends in 2019 79 II. 4.2 Trends in 2020 81 III. Developments in selected areas of business 86 III. 1 Overview of assets and investments under management 87 III. 2 Wealth management in Switzerland 90 III. 3 Investment management in Switzerland 95 III. 4 Corporate banking in Switzerland 101 III. 4.1 Corporate finance 104 III. 4.2 Transaction banking 106 III. 4.3 Capital markets business 109 III. 4.4 COVID-19 loans 111 List of sources 116 Swiss Bankers Association | Banking Barometer 2020 3 Executive Summary Executive Summary The COVID-19 loan programme has provided a clear illustration of the contribution banks make to Switzer- land’s prosperity. The country is one of the world’s lead- ing financial centres and the No. -
Annual Report 2015
Helvetia Group Annual Report 2015 Your Swiss insurer. WorldReginfo - d0a7595a-e9f6-4504-8a99-f218f059e2bd Grown together The image of the tree on the cover illustrates how Helvetia and Nationale Suisse have grown together. Two have become one. Helvetia is now deeply rooted, receptive and open to future challenges. Last year’s reluctant convergence has given way to sustainable relationships between the employees of Helvetia and the former Nationale Suisse. We are therefore concluding this Annual Report by addressing the coalescing of two cultures and portraying the pairs and groups that are now paving a shared way forward as a strong team. A team that appreciates the benefits – and changes – that come from something new and is able to capitalise on them. The merger has given way to predominantly positive aspects. The willingness of all em- ployees to accept the new and unknown has been rewarded. Teams have come together, productive discussions have taken place, strengths have been pooled, new friendships and valuable networks have emerged, the product range has been supplemented in a practical manner, new values have been jointly defined and knowledge has been shared. These stories are supported symbolically with pictures from nature. The symbolism underscores the convergence and growing together of two elements into one interwoven entity. This benefits everyone involved – employees, customers and shareholders. Helvetia can now move boldly into the future – with the knowledge of this capable, growing partnership. Profile Helvetia Group with headquarters in Switzerland has grown over the past 150 years to be- come a successful international insurance group. Alongside its home market of Switzer- land, its core geographic markets also include Germany, Italy, Austria and Spain, which form the “Europe” market area. -
ICAO Action Plan on CO2 Emission Reduction of Switzerland Federal
Federal Department of the Environment, Transport, Energy and Communications DETEC Federal Office of Civil Aviation FOCA ICAO Action Plan on CO2 Emission Reduction of Switzerland June 2012 Federal Office of Civil Aviation (FOCA) ICAO Action Plan on CO2 Emission Reduction of Switzerland Federal Office of Civil Aviation FOCA Division Aviation Policy and Strategy CH-3003 Bern Principal Contacts Alice Suri Urs Ziegler Scientific Advisor Head of Environment T +41 (0)31 325 09 22 T +41 (0)31 325 91 10 F +41 (0)31 325 92 12 F +41 (0)31 325 92 12 [email protected] [email protected] FOCA June 2012 ©Photo FOCA 2009 2 ICAO Action Plan on CO2 Emission Reduction of Switzerland Table of Contents Introduction I Introduction 5 II Current State of Aviation in Switzerland 7 2.1 Legal basis 7 2.2 Aviation Policy in Switzerland 8 2.3 Sustainability 9 2.4 Structure of Civil Aviation Sector 10 2.5 Swiss Aircraft Register 12 2.6 Operations 12 2.7 Traffic Performance 16 III Historical Emissions and Prognoses 20 3.1 Historical Emissions 20 3.2 Forecast 22 Section 1 – Supranational Measures IV Supranational Measures 24 4.1 Aircraft related technology development 24 4.2 Alternative Fuels 26 4.3 Improved Air Traffic Management and Infrastructure Use 28 4.4 Economic / Market-Based Measures 31 4.5 Support to Voluntary Actions: ACI Airport Carbon Accreditation 33 Section 2 – National Measures V National Measures 36 5.1 Aircraft related technology development 36 5.2 Alternative Fuels 36 5.3 Improved Air Traffic Management and Infrastructure Use 36 5.4 More efficient operators 38 5.5 Economic / Market-Based Measures 39 5.6 Regulatory Measures / Other 39 Conclusion VI Conclusion 41 Appendix Appendix 42 3 ICAO Action Plan on CO2 Emission Reduction of Switzerland INTRODUCTION 4 ICAO Action Plan on CO2 Emission Reduction of Switzerland I Introduction a) Switzerland is a member of the European free trade association EFTA and of the European Civil Aviation Conference (ECAC).