The Impact of Technology on New Business Models in Banking

The Impact of Technology on New Business Models in Banking

A SIX Whitepaper

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This SIX white paper provides a deep dive into the key trends of open banking, embedded finance and banking-as-a-service, including real-life case studies. Most importantly, the paper illustrates the resulting changes to the banking value chain and the emergence of new potential banking business models and draws lessons to support the competitiveness of the Swiss financial center.


This publication reflects the commitment of SIX to staying at the forefront of industry trends in the banking landscape and understanding the impact of emerging technologies, regulatory changes and evolving business models. It provides valuable insights into the transformative power of banking-as-a-service and embedded finance. To better illustrate these key trends, we have included selected case studies that showcase a number of companies that have already built innovative business models around these trends. Our intention with this white paper is to start a meaningful conversation with our customers and partners as we explore together the potential and opportunities beyond open banking. Our goal is to develop a clear path forward and leverage the insights from these business models to create value for our stakeholders, end customers, and the Swiss financial center.

Definitions & Concepts

Case Studies

To better illustrate the concepts, we examine three specific case studies that describe how different types of institutions are taking advantage of the new opportunities:

  • CASE 1: Emerging bank with modern infrastructure using BaaS as core business – Solaris Bank, Germany
  • CASE 2: Traditional bank adopting BaaS to diversify its core business – Hypothekarbank Lenzburg, Switzerland
  • CASE 3: Established fintech offering BaaS alongside its core business. – Stripe, Ireland

Impact on the Banking Industry

Maintaining a closed, integrated banking model is not a viable medium-term strategy for any bank. Based on principles of increasing openness in the banking value chain, we have identified three types of potential new banking business models: the Open Model, the Partnering Model and the Enriched In-House Model.

In the medium term, technology will play an even more important role in banking than it does today. Swiss banks will need to adapt to this new reality. From the perspective of the Swiss financial center, SIX, as the central infrastructure provider, is well positioned to support Swiss banks in this transformation.

Ready to Capitalize on API-Powered Business Models?

Find out more about our open banking platform bLink or contact us to explore the opportunities of banking-as-a-service offerings.