The Cantonal Bank of Geneva (BCGE) has purchased an 11 percent stake in Finnova, a fintech company. This acquisition allows BCGE to have a seat on Finnova's Board of Directors.

The goal of this strategic investment is to strengthen the existing partnership between BCGE and Finnova, as Finnova has been providing IT solutions to the bank for a number of years. BCGE sees this move as a significant step towards advancing the digital transformation of the Swiss financial sector.

The investment demonstrates BCGE's commitment to collaboration and innovation in the banking industry. Finnova sees the acquisition as a vote of confidence from BCGE, further solidifying their relationship. The financial details of the transaction have not been disclosed.