The online magazine of the Swiss Bankers Association
June 21, 2017


Crucial for competitiveness

Crucial for competitiveness

Dear readers

The Swiss financial centre must remain attractive for customers and investors in Switzerland and abroad. This requires optimal and reliable framework conditions.

The Swiss financial centre is one of the most important financial centres in the world and makes a significant contribution to our country’s prosperity. However, outside Switzerland, awareness of the high-quality services our banks offer customers both at home and abroad is unfortunately still too low. We are in the process of rectifying this fact: in the insight article entitled "Promotion of the financial centre in Asia", you can read about one example of how the SBA is propelling the promotion of the Swiss financial centre forward. But promotion alone is not enough: at the international level, the playing field for our banks must be level with all of the relevant competing financial centres, which also includes the US

Switzerland is a traditionally liberal and free trade-orientated economy, for which access to the EU markets is of particular importance. If the new initiative to rescind the free movement of persons were to receive majority support, it would endanger the Bilateral Agreements I, and therefore a fundamental set of agreements with our most important export market.

If we shift our gaze to the biggest issues surrounding digitalisation, we can see that initial progress is being made. For example, the Federal Council is currently paving the way for the introduction of an e-ID, and is therefore making an important contribution to the promotion of innovation in the Swiss finance industry. The Swiss population also recognises the developments in this area and sees the banks as winners in the trend towards digitalisation.  

I hope you enjoy reading this edition of insight.