Studies
The 2026 IFZ study evaluates the digitalization level of 47 Swiss banks based on 145 criteria. UBS leads the ranking ahead of Migros Bank and VZ Depotbank. A key finding is the strong growth in mobile banking, where digital banks lead the field in innovative features.
The EY Banking Barometer 2026 shows that 46% of banks expect declining operating results for 2025, primarily due to lower interest margins. Efficiency improvements and AI integration are the focus of structural change, while ESG is losing momentum as a niche topic. Long-term, 94% of institutions remain confident.
The FINMA Risk Monitor 2025 identifies nine principal risks for the Swiss financial sector. While risks relating to real estate, credit, liquidity, money laundering, and outsourcing remain high, risks from cyber attacks, ICT failures, and credit spreads have increased. A special appendix also highlights climate-related financial risks.
IMF technical note on systemic risk and stress testing for Switzerland's financial sector in 2025. It details bank and insurance solvency, bank liquidity, and climate risks, concluding the system is largely resilient to severe macroeconomic shocks, despite structurally weak profitability and high mortgage debt.
An IMF stability assessment of the Swiss financial system. It highlights resilience to economic shocks but identifies vulnerabilities in real estate and the need for stronger regulatory powers for FINMA following the Credit Suisse crisis.
The Swiss banking sector saw a slight decline in operating results in 2024 but reached a new record high in assets under management of over CHF 9,200 bn. Mortgage lending grew moderately, while domestic employment increased. 2025 is shaped by SNB interest rate cuts and new regulations.
An analysis of SME lending processes in Switzerland based on interviews with bank representatives. The study highlights discrepancies between the perception of SMEs (who find the process slow and complicated) and banks (who report high approval rates for complete applications). Key topics include credit review duration, document management, and the use of AI for process optimization.
This study analyzes the Swiss sustainable investment market as of end-2024. Total sustainability-related investments grew by 13% to CHF 1,881 billion. The report details the drivers behind this growth, including a notable rise in retail investor participation. It examines the prevalent sustainable investment approaches, the increasing use of combined strategies, and the market's alignment with AMAS self-regulation, alongside AI, real estate, and evolving regulatory frameworks.
A bibliography of academic and industry publications by Andreas Dietrich, focusing on retail banking, FinTech, crowdfunding, and digitalization in the Swiss financial sector.
An analysis of CX maturity in Swiss banking, revealing a gap between high basic satisfaction and low advocacy (NPS). The report identifies internal strategic and technological shortcomings and offers actionable recommendations for improving customer engagement.
A comprehensive global study of 3,600 wealthy clients revealing growing demands for proactive advice, increasing multihoming, rising interest in alternative assets, unreadiness for intergenerational wealth transfers, and high expectations for AI in wealth management.
Deloitte's Digital Banking Maturity Study 2022 analyzes the digital maturity of 304 banks globally. It highlights that Swiss banks are losing their competitive edge against digital champions and challenger banks due to slower innovation, lacking end-to-end digitalization, and limited beyond-banking services.
The review analyzes recent international financial market developments, monetary policy communication, the rise of synthetic risk transfers, a new AI-based macroeconomic forecasting model (BISTRO), and offshore financial activities.
A representative survey of Swiss voters regarding their perceptions of the banking sector, focusing on general trust, sustainability, digital transformation, and international competitiveness.
Capgemini's Banking Top Trends 2026 highlights how financial institutions are leveraging AI and digitalization to strengthen customer engagement, optimize operational workflows, and drive technological innovations such as intelligent payment orchestration and cybersecurity.
A detailed analysis of Swiss M&A activity in 2025, recording an increased deal volume of 502 transactions valued at USD 166.8 billion, driven by mega-deals in the TMT and Life Sciences sectors.
The 'Top Banking Trends 2026' report identifies six key trends shaping the future of banking. Driven by Generative AI, intelligent agents, and digital assets, banks can now break free from traditional constraints, transforming operating models and unlocking new growth.
Capgemini's World Payments Report 2026 highlights the widening gap between merchant expectations and bank capabilities. As PayTechs capture market share with agile, tech-driven solutions, banks must rethink their merchant acquiring strategies, modernize their core infrastructure, and prioritize customized value-added services to reclaim market leadership.
Deloitte's 2026 Banking and Capital Markets Outlook identifies macroeconomic challenges impacting net interest margins, the disruptive threat to deposits from stablecoins, the necessity of an AI-ready data infrastructure to scale AI pilots, and the need for dynamic, tech-enabled approaches to fight financial crime.
An empirical analysis of the 2026 Swiss and Liechtenstein FinTech sector, highlighting structural maturity, technological shifts towards AI, VC funding declines, and the crypto market.
A comprehensive benchmarking study of 69 Swiss and Liechtenstein wealth management banks. It assesses 2024 performance metrics, dividing banks by AUM thresholds, and crowns top performers like Goldman Sachs and Banca del Ceresio. The report also covers AI implementation and board composition.
Speech by the FINMA Director at the Centro Studi Villa Negroni on supervisory challenges posed by heightened financial, geopolitical, and cyber risks. The focus is on strengthening resilience through four pillars of regulation, including enhanced early intervention powers and TBTF reform.
McKinsey's 2025 review details how banks face a pivotal moment. Despite record $1.2T profits in 2024, valuations lag. The report advocates for a 'precision' strategy across tech, consumers, capital, and M&A, warning that agentic AI could disrupt profit pools by 9% if banks fail to adapt.
McKinsey's 2025 asset management report analyzes the industry's recovery to $147 trillion in AUM, highlighting persistent margin pressures and the 'great convergence' of traditional and alternative assets as the primary growth engine for the future.
The Swiss National Bank (SNB) is extending the wholesale CBDC pilot on SIX Digital Exchange (Project Helvetia) until at least mid-2027. The project is also being expanded to test the settlement of tokenised assets with traditional central bank money via an RTGS connection between BX Digital and the SIC system in a production environment.
The 2025 report explores global economic challenges stemming from trade tensions and debt vulnerabilities. It highlights the growing role of non-bank financial institutions and FX swaps in global markets. Furthermore, it presents a tokenised future for the monetary system, emphasizing the risks of stablecoins.
The Swiss Finance Institute awarded its 2025 Outstanding Paper Award to 'Causal Inference for Asset Pricing,' a paper using causal inference to analyze demand shocks in financial markets.
Global financial wealth hit $305 trillion in 2024, but organic growth remains sluggish. Since 2014, less than a third of AuM growth was generated organically by existing advisors. To drive sustainable expansion, the report outlines four key levers: enhancing brand strength, utilizing GenAI for lead generation, deploying data-driven product distribution, and engaging next-generation clients early.
Switzerland requires an estimated CHF 5.3 billion in annual investment until 2050 to meet its nature transition targets. While 85% of this will likely require public funding due to low commercial viability, private finance has a crucial role. Swiss banks can scale nature financing if supported by clear policies, robust data, and mechanisms like blended finance and private co-financing.
A comprehensive analysis of the global fintech industry based on a survey of 240 firms, highlighting the shift to sustainable growth, the role of financial inclusion, regulatory perceptions, and the rapid adoption of artificial intelligence.
Accenture's 2025 study highlights 10 trends driving the future of banking towards 2030, emphasizing generative AI's role in personalizing customer journeys, overcoming legacy tech debt, and shifting the strategic focus from pure cost efficiency to value creation and revenue growth.
Accenture's report details the top trends for commercial banking in 2025, emphasizing the shift from tactical investments to strategic AI integration across front-office, lending, and risk management. It explores transaction banking as a growth engine, M&A consolidation, and a renewed focus on scalable, AI-driven solutions for SMBs.
The 2025 Swiss Asset Management Study highlights that Swiss AUM reached a record CHF 3.45 trillion in 2024. While Switzerland is now Europe's third-largest AM hub, the industry faces stagnating profitability and margin compression. Asset managers are prioritizing growth through M&A, private markets expansion, and the adoption of AI and DLT to achieve scalable efficiency.
The report outlines structural shifts in global payments. Key themes include slowing revenue growth, the rising adoption of stablecoins, the role of agentic AI in e-commerce, cost excellence as a growth lever, the platformization of merchant services, and the rapid growth of real-time A2A payments amidst a complex risk environment.
An industry report on the future of retail banking focusing on card strategies and customer experience. It advocates for a flywheel model using AI, personalized rewards, and intelligent contact centers to engage customers.
Capgemini's WWR 2025 highlights the upcoming USD 83.5T 'great wealth transfer' to Next-gen HNWIs. It stresses the urgent need for wealth management firms to provide alternative investments, personalized concierge services, and advanced digital platforms to retain these inheritors, alongside empowering relationship managers.
An analysis by the University of St.Gallen shows that Swiss private banks have succeeded over the past decade either through a focused boutique strategy or comprehensive global diversification. Banks that diversified both geographically and in product offerings achieved economies of scale and high profitability, while those without a clear strategic focus suffered.
The study analyzes the 2025 crypto investment market in Switzerland and Liechtenstein. It highlights market activities in direct and indirect investments, the growing importance of tokenization and ETPs, and the risk-return profiles of crypto assets. Furthermore, the rising market participation of institutional investors is examined.
An empirical analysis of the Swiss and Liechtenstein FinTech sector at the end of 2024, highlighting signs of market saturation, a decline in venture capital funding, and a shift towards B2B business models.
An analysis of 71 Swiss private banks revealing record AuM in 2024 but growing profitability pressures due to falling interest rates. It highlights M&A trends and the strategic necessity of choosing between a global scale or niche focus.
A KPMG study surveying 20 senior finance leaders in the Swiss banking and insurance sectors. It highlights the transformation of the finance function from a control-based role to a strategic business partner, driven by technology (AI, cloud), operating model shifts, and an evolving focus on talent and analytical skills.
A comprehensive overview by Oliver Wyman exploring the integration of AI and Quantum technologies in financial services, driven by discussions at SFF 2024. The study highlights the shift towards value-focused GenAI, the underutilized potential of predictive AI, and the critical need to prepare for quantum computing's impact on data security.
PwC's 2025 Private Banking Market Update reveals that Swiss and Liechtenstein private banks delivered robust results in 2024, driven by strong financial markets and double-digit AuM growth. Lower interest rates reduced net interest margins, but banks compensated with increased fee and commission income. The industry faces intense competition, digitalization demands, and ongoing consolidation.
The 2025 Swiss Banking Outlook predicts a challenging year with modest economic growth. Banks' net income will decline due to compressed interest margins. However, cross-border wealth management is expected to grow as Switzerland benefits from its safe haven status amid geopolitical shifts. Enhancing the digital customer experience is the sector's top opportunity.
The European Payments Study 2025 by zeb analyzes retail payment trends and fee pools across 11 European countries. While transaction fees are dropping below EUR 1, overall fee pools are projected to grow 7% annually to EUR 105 billion by 2027, largely driven by the payee side. The report highlights the shift toward digital and A2A payments, emphasizing that traditional retail banks must adopt competitive solutions like EPI/Wero and offer value-added services to stay relevant.
This report examines cloud adoption in financial services, highlighting a divide between traditional firms seeking operational efficiency and innovators driving top-line growth. It outlines challenges such as data silos, regulatory hurdles, and cost management, offering a framework to maximize cloud value via ecosystem partnerships, cloud-native architecture, and AI integration.
Official guidelines defining the scope of the SNB's investment activities, covering policy principles, eligible assets, ESG criteria, and risk management processes.
Official guidelines detailing the SNB's investment policy, asset allocation rules, risk control frameworks, and ESG exclusions for managing Switzerland's currency reserves.
The SNB's Investment Policy Guidelines outline the principles, eligible asset classes, and risk management processes for the central bank's investments. The primary goals are to ensure balance sheet readiness for monetary policy and to preserve the long-term value of currency reserves through high liquidity and broad diversification. ESG criteria exclude severe violators, and domestic investments are restricted to prevent conflicts of interest.
A study by the BIS, SNB, and SIX demonstrating how wholesale CBDC can settle tokenised assets end-to-end by integrating DLT infrastructures with existing RTGS systems. The study confirms operational and legal feasibility under Swiss law.
An overview of the tasks, structure, and working methods of the Swiss Financial Market Supervisory Authority FINMA, including its protection mandate and risk-based supervisory approach.
The paper examines the roots of the 2008 financial crisis, tracing it back to a succession of three bubbles since the 1990s. It emphasizes that the core issue is a deep loss of trust rather than just financial mechanics, and proposes solutions focusing on fairness, accountability, and understanding complex systems.