Swiss Bankers Association
Swiss Bankers Association
Financial Center » Players

Swiss Financial Center - Players

Swiss Bankers Association (SBA)
The Swiss Bankers Association (SBA) was founded in 1912 in Basel as a trade association and today has more than 300 institutional members and approximately 15'000 individual members. The Association’s Office employs about 55 people (full time equivalents). The Four business-orientated steering committees and four transversal commissions, consisting of representatives of the banking groups, deal with key issues affecting the Swiss financial centre.

Swiss Banking Ombudsman
Any customer who has a dispute with his/her bank but does not want to go to court may contact the Swiss Banking Ombudsman, whose services are free of charge. The ombudsman is a neutral and independent office for resolving customer disputes. Although it has no powers of arbitration, it mediates between the parties to the dispute. Instead of prescribing a particular judgment, he recommends a legally not binding, negotiated solution. Nevertheless, the ombudsman successfully mediates in many cases.

SIX Group
SIX Group operates the competitive infrastructure underpinning the Swiss financial center, catering to an ever-increasing global client base. Its business fields provide infrastructure services relating to securities trading, securities clearing and settlement, payment transfers and financial information. This includes the operation, regulation and monitoring of electronic exchange trading, the calculation of indexes, downstream settlement and custody processes for securities trading, the distribution of reference and market data, operational processes relating to the issuance and acceptance of credit, debit and prepaid cards, the settlement of cashless transactions and electronic bills, and interbank payment transactions in Swiss francs and euro. SIX Group generates around one third of its revenue abroad and has a presence outside Switzerland in 22 countries, where almost one third of its employees work..

Swiss National Bank (SNB)
The SNB is the central bank of the Swiss Confederation, and it runs the country's monetary policy independently. It can act as lender of last resort, providing liquidity to Swiss banks if special conditions are met. However, unlike the Bank of England, for instance, it has no regulatory powers - banking supervision is the purview of the Swiss Financial Market Supervisory Authority

Swiss Financial Market Supervisory Authority
The FINMA is responsible for the regulatory supervision of banks, exchanges, securities traders and collective investment schemes. It grants new banks authorization to begin conducting business and supervises them continuously through statutory auditors. In the event of a violation of law or other abuses, the FINMA can order appropriate corrective measures. If the case is serious enough, it can withdraw the bank's operating permit.

Financial intermediaries without bank status
In addition to the banks and their various bodies, the Swiss financial sector also plays host to financial intermediaries without bank status. These intermediaries, which are regulated by a special federal authority, include the management companies of Swiss investment funds (under the Investment Fund Act), life insurance companies (under the Insurance Supervision Act) and securities traders (under the Stock Exchange Act). A number of other financial intermediaries are only subject to the Money Laundering Act. These include anyone who looks after other people's assets or helps to invest or transfer them, such as asset managers, brokers, bureaux de changes, lawyers, credit card companies etc.Independent asset managers in particular form a large and important group. They are brought together in the Swiss Association of Asset Managers (SAAM) VSV. The total assets under management by SAAM members is estimated at CHF 375bn, which equates to 13% of all assets under management in Switzerland. Independent asset managers maintain close relations with one or more banks, the banks serving as custody banks for the clients’ assets.

Swiss Finance Startups
The digitalization of processes and services in the banking business is evolving rapidly. In order for Swiss financial institutions to be able to assume an important position in this market, there must be close collaboration within the sector, as well as sustainable growth of the fintech cluster. The objective is to keep value creation and jobs in Switzerland, and to provide the economy with low-cost, innovative services. Suitable framework conditions must be ensured at all times, even in periods of dynamic change. In this context, Switzerland’s traditional strengths, such as stability, protection of privacy and innovation should form the supporting pillars for the future competitiveness of Switzerland as a business location. The association of Swiss Finance Startups strives to promote the establishment  of of up-and-coming fintech providers on this basis. In order to promote innovation, change and inspiration, the SFS, through its network, is contributing to the fostering of synergies and the creation of a productive fintech ecosystem. Its stated objectives are the promotion of a shared startup spirit, the exchange of ideas and knowledge, as well as engaging in public relations.