Digitalization Study: "Digital Pulse Check 3.0"
Ten years after the global banking crisis, the Swiss financial industry faces its next crucial challenge. Once again, it must fundamentally renew itself, and perhaps even selectively reinvent itself. The driving force behind this new evolution is the growing digitalization of the banking sector. The stakes are high for the established players in the field, who ultimately fight for their own survival. Small agile fintech companies, as well as large innovative tech giants, are lurking ominously, ready to jump at the opportunity to serve the digital needs of a new generation of consumers with forward-looking digital solutions. The issue of digitalization is of crucial significance to Switzerland, and its implications for one of the country’s most important – if not the most important – economic sector are not to be underestimated. In light of this, the Swiss Finance Institute has partnered with the renowned strategy and management consulting company zeb to examine, through a representative study, the current status of digitalization within the Swiss banking sector. The main objective of the study is to determine the level of digital maturity of Swiss banks compared with the rest of Europe.