Andreas Iten, responsible for technology innovation at SIX and Executive Sponsor of the Incubator F10.

Andreas Iten, responsible for technology innovation at SIX and Executive Sponsor of the Incubator F10.

In early July SIX commenced operations in the new SIX Fintech Incubator F10. In a brief interview, Andreas Iten, who is responsible for technology innovation at SIX and Executive Sponsor of the Incubator, speaks about the opportunities presented by FinTech.

 

Andreas, on social media you describe yourself as a visionary in relation to FinTech. What is it that fascinates you about this subject?
The whole FinTech movement involves subjecting the usual business models in the financial industry to critical questioning, resulting in a new philosophy taking hold. Young bank customers in particular no longer go into branches. Instead they want their banking transactions to be as mobile as possible and, above all, to conduct them online. In this context, we can simplify people's lives with novel solutions in the financial space and help banks to win back the trust of their customers, which they lost as a result of the financial crisis. I think this trend is very exciting, and it offers a great many opportunities.

So what is your vision?
My vision is for SIX to establish itself as an enabler in the FinTech field. With our portfolio of services and our close relationships with the financial sector, we are at the forefront of what is happening. In addition, we have a great deal of technical expertise to offer. In this light, we are actually predestined for this task.

At the start of July was the launch of the SIX FinTech Incubator F10 and the first innovation sprints have already taken place. What is the significance of the Incubator for SIX?
The Incubator is the place where innovation is created. Despite all the digitalization, there is still a need for a physical place where representatives of various disciplines can come together and engage in intense discussions in short cycles. Ultimately, the purpose of the Incubator is to foster the FinTech scene in Zurich and Switzerland as well as the working relationship with clients and our owners.

So what role does innovation play at SIX?
Innovation is one of the four strategic focuses of SIX. Looking at technological trends it soon becomes clear that we need to change and adapt to new circumstances. This is the only way to safeguard our business in the long term. Our owners, the banks, will also benefit from our innovations.