Financial Services

Blockchain – the creative destruction to Financial Services

The term creative destruction by Joseph Schumpeter describes the process of creating net economic growth in a capitalist system. The entrepreneur creates greater economic value from his radical ideas and innovations than is destroyed by the replacement of established ways. This destruction is seemingly a positive news for the financial services industry.

Is Fintech an enabler or a disruptor?

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.

Swiss Federal Administrative Court rejects group request from the Netherlands

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.

The AEoI will enter into force in less than a year

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.

Why a strong corporate culture matters more than ever

The constant reports of misconduct highlights how banks and their supervisors are still struggling to get to grips with corporate culture and conduct. Culture and conduct starts from the top, but it must be reinforced by the tone at the middle, and critically the tone at the customer front line. How do you embed a ‘good’ culture in your organization?

IFRS 9 aus Sicht der Industrieunternehmen

Der Standard IFRS 9 "Finanzinstrumente" tritt für Geschäftsjahre beginnend am 1. Januar 2018 in Kraft. Industrieunternehmen sind von den neuerlichen Diskussionen des IASB über einen möglichen Aufschub des Inkrafttretens des Standards nicht betroffen. Was müssen Industrieunternehmen tun, um eine möglichst reibungslose Einführung zu gewährleisten?