While some Swiss private banks, independent asset managers and institutes specialized in lending services may clearly think that fintech will have a negative impact on their business, we together with the banks and insurance companies already working in the field of fintech share a different view.
After the SFTA approved the group request from the Netherlands dated 23 July 2015, a bank client concerned filed an appeal with the Swiss Federal Administrative Court. With its ruling of 21 March 2016, the Swiss Federal Administrative Court approved this appeal various reasons.
It has been known for some time already that EU member states among themselves and EU member states with Liechtenstein have introduced the AEoI as at 1 January 2016, with a first exchange of data in the year 2017 regarding 2016. It is expected that Switzerland will be exchanging data with 38 countries in 2018 in respect of 2017 data.