The network infrastructure forms the basis for all digital solutions and is the driver of all technological advances.
The ICT infrastructure in Switzerland is highly competitive. However, mobile broadband usage is constrained by strict regulatory requirements and the associated costs.
The EPFL study also identifies room for improvement in the fintech segment.
Digitalization introduces new data protection challenges.
Switzerland is currently ranked in the top three countries for server security. It has an excellent reputation globally for responsible data management and effective data protection. According to the EPFL study, Switzerland is therefore ideally positioned to become a global "safe haven for data" and a prime location for "big data" centres.
The Swiss economy has a reputation for being exceptionally innovative. But entrepreneurial spirit is in short supply.
Start-ups experiment, use new methods and cutting-edge technologies. But there is no start-up culture in Switzerland comparable with that found in the US, for example. The EPFL suggests to improve the environment for start-ups through financing and taxation.
Open data is data that anyone can access, use, or share. Sources vary and include governments, scientific organizations, media and businesses.
Promoting open data models will make Switzerland a more attractive location for developing new digital business models. Overly rigid regulations can hold back this development. The pace of digitalization within public services should be increased.
Digital literacy is the foundation for establishing and developing digitalization in any society.
According to the EPFL, programmes to promote digital literacy, and deliberately shifting services to digital channels are equally beneficial. The study also suggests to simplify or renew immigration rules for highly qualified individuals, trainees and start-up companies.
Susanne Chishti is the CEO of FINTECH Circle, the first European angel investor network to focus on fintech. She is the co-editor of The FINTECH Book, the 1st book on the global fintech sector.
Thomas Sutter, Deputy CEO of the Swiss Bankers Association, on the framework conditions for FinTech in Switzerland and on how and why his association is giving its support to it.
Christoph Birkholz, co-founder and managing director of the Impact Hub Zurich, on innovation through collaboration and the partnership with SIX.
Benjamin Weber, an information technology student at ETH, is passionate about taking part in hackathons. At the #SIXHackathon 2016 Paymit workshop, he and his "TipIt" team were prizewinners.
Jonathan Isenring and Rasmus Rothe are co-founders of HackZurich: the team of students and graduates from Zurich universities has staged the biggest Hackathon in Europe for the second time.
Surprising collaborations with companies outside the financial sector, such as Rinspeed, help SIX develop targeted products and services for the benefit of its clients.
As part of the hosted start-up program in the FinTech Incubator F10, Veezoo is able to make use of SIX’s infrastructure, coaching and data. In return, SIX benefits from the cultural exchange.
Andreas Iten, who is responsible for technology innovation at SIX and Executive Sponsor of the F10 Incubator, speaks about the opportunities presented by FinTech.
Géza Mihala and his team won the SIX Hackathon in late March 2015. In early July, the software developer was one of the first to move into the SIX Fintech Incubator.
The young architects' practice Daluz González & Cajos is using simple methods to turn the F10 SIX FinTech Incubator into an innovative ideas workshop.
Getting the ball rolling, encouraging people’s sense of curiosity, and discovering new things are what drive Jasmin Novotni. She is one of more than 50 innovation legionnaires at SIX.
Launched in May 2015, Paymit is a simple and secure mobile payment solution provided by the SIX, UBS, Zürcher Kantonalbank and Swisscom partner network. Following the successful establishment of payments between individuals (P2P) and to charitable organizations, Paymit will be extended to cover a number of retail solutions (point-of-sale, in-app and e-commerce) this year. The first retailers will roll out Paymit in February. And starting in the second quarter of 2016, individuals will be able to use Paymit for online purchases.
SIX, UBS and Zürcher Kantonalbank launch Paymit in Switzerland. After just one month, the payment app has more than 40,000 active users.
Banque Cantonale de Genève, Banque Cantonale Vaudoise, Luzerner Kantonalbank and Raiffeisen wish to offer their customers Paymit.
In a strategic partnership SIX and Swisscom keep building out Paymit: the app will be extended to cover a number of retail solutions (point-of-sale, in-app and e-commerce).
Switzerland's most popular payment app continues to grow: the Obwalden, St. Gallen and Zug cantonal banks opt for Paymit too. First retail payments are possible.