Our innovation strategy is focused on these four key areas of the financial industry:
Banking and Financial Services
With our products and services we help banks and other financial services providers to become more efficient and to offer attractive services on the market.
Modern Payment Solutions
We wish to offer all consumers the best payment solution for every situation – fast, secure and uncomplicated.
We use our regulatory data and services to assist banks in complying in a proper and efficient manner with regulations.
We identify and analyze relevant new technologies and render them usable for the Swiss financial market.
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SIX has its own "lab" for innovations: the Innovation@SIX Lab at F10. SIX employees get to meet young founders, external experts and customers. Without the distraction of daily business, together they can work on developing joint ideas. The mutual exchange during Sprints and Minimum Viable Product (MVP) development fosters close-to-the-market innovation.
Good ideas lay the groundwork for innovation. SIX utilizes all of them because doing so takes advantage of the creativity and commitment of our employees: everyone at SIX has access to an easy-to-use online tool so they can enter their ideas whenever they want. SIX regularly reviews these ideas and, thanks to a defined innovation process, can quickly recognize those with potential.
Good ideas should be developed into market-ready products as soon as possible: during a Sprint, a small team creates a business case based on the design-thinking method. Sprint teams are highly diversified: they are often comprised of an IT architect, a creative thinker and a sales expert. Then, based on the business case, the team develops a prototype and advises SIX management on the next steps.
If both the business case and prototype pass the Proof of Concept, then the next step is usually to develop a Minimum Viable Product. A MVP is the bare bones version of a product or service. This allows the product development process to remain as lean as possible. Pilot customers give feedback that is used for ongoing monitoring and for making adjustments.
SIX integrates a successful MVP into its existing products and services portfolio. The business unit in charge is responsible for constantly improving and developing it further.
SIX Is an Essential Partner and Sponsor of the F10
F10 is a FinTech accelerator which advises start-ups in transforming their ideas into successful companies while stimulating worldwide collaboration with international financial companies. The accelerator already has a proven track record of innovation, acceleration and product creation for financial market.
SIX identifies relevant technologies and good ideas. We want our customers to benefit from both as soon as possible. So, together with our partners, we are constantly examining and developing innovative solutions. Read more about some of our most important current projects to see for yourself what we do.
xChain - Wikipedia for Corporate Actions
Goal of the project: SIX aims to improve the data quality in its corporate action process in order to minimize the risks involved in this process.
Status: Minimum viable product
Background information: Every year millions of events, such as dividend payments, share splits and capital increases, occur in global securities trading. These corporate actions affect hundreds of market participants in each case – from the issuers who trigger them through to the investors affected. Redundant manual processes slow down the process.
Together with customers and industry experts, SIX is pursuing within F10 a new means of processing corporate actions: at a high level of quality, efficiently and with minimal risk.
xChain combines collective intelligence as used by Wikipedia with distributed ledger technology (blockchain). It allows market participants to validate corporate actions concurrently. They share their knowledge in a kind of social network. They evaluate each other in turn. An incentive system rewards accurate data.
XBTR on Distributed Ledger - More Efficient Processing of OTC Transactions
Goal of the project: SIX seeks to make the processing of OTC transactions in structured products more efficient by using distributed ledger technology.
Status: Minimum Viable Product
Background information: XBTR is a bilateral trading platform at SIX Swiss Exchange. Professional market participants in the interbank business use it to trade structured products that are not listed on the exchange (this is called over-the-counter (OTC) trading).
Hitherto, the settlement of such OTC transactions has been partly manual and therefore time-consuming and prone to error. XBTR can simplify this by automating the settlement of such trades. By linking XBTR to a new platform XDL - using distributed ledger technology (DLT) - the processing of such OTC transactions can be further centralized and automated. In addition this has the possibility to shorten the settlement time, reduce costs and minimize risk. SIX is currently investigating whether this is feasible.
SIX Cyber Security
More intelligent, faster, more precise
Business data is a company's most precious commodity. Several studies have shown that companies in Switzerland tend to underestimate the risk of a cyber attack, although this is one of the biggest threat for companies.