The Federal Council has reaffirmed its rejection of a state guarantee for UBS, citing risks of competition distortion and the need for higher capital requirements. The PUK report highlights the unresolved issue of taxpayer protection and calls for stronger regulatory measures, including potential nationalization options for large banks. As Switzerland grapples with the implications of the Credit Suisse crisis, the future of banking regulation remains uncertain.
Postfinance is facing challenges in finding a successor for departing CFO Kurt Fuchs, who will leave at the end of February 2025. Until a new CFO is appointed, Marc Bonfils, currently Head of Treasury and Deputy CFO since 2008, will serve in an interim capacity starting in March. The bank plans to announce Fuchs' permanent successor in the first half of 2025.
Postfinance is redesigning its branches to enhance personal advice and customer experience, starting with a pilot branch in Lausanne. The new concept features an open entrance, an "interactive table" for entertainment, and aims to simplify services while maintaining the importance of physical locations in banking. Two additional pilot branches are set to open in Thun in early 2025.
Revolut is rapidly expanding its user base, aiming for 100 million customers while entering the real estate lending market in Lithuania, Ireland, and France. Swiss fintechs like Neon and Yuh are also thriving, with innovative solutions and transparent pricing, fostering competition that benefits consumers. Digital pension providers, such as Viac, are revolutionizing investment accessibility, although the market remains dynamic and competitive.
Wyden has secured $16.9 million in a Series B funding round led by Truffle Capital, aiming to expand its digital asset services for banks, brokers, and exchanges. The company plans to integrate up to 20 new partners by 2025, focusing on markets with stringent regulatory frameworks, while enhancing its workforce and product development, particularly with its Wyden Infinity platform. This investment positions Wyden as a leader in institutional digital asset trading infrastructure, catering to the evolving needs of financial institutions.
Seems like the connection with the server has been lost. It can be due to poor or broken network. Please hang on while we're trying to reconnect...
Oh snap! Failed to reconnect with the server. This is typically caused by a longer network outage, or if the server has been taken down. You can try to reconnect, but if that does not work, you need to reload the page.
Oh man! The server rejected the attempt to reconnect. The only option now is to reload the page, but be prepared that it won't work, since this is typically caused by a failure on the server.
