{
}
Revolut is migrating Swiss customers from its British entity to the Lithuanian Revolut Bank UAB, promising individual Swiss IBANs provided by PostFinance. However, confusion arose as users reported that these IBANs are linked to Revolut Bank UAB, requiring specific payment references. The company acknowledges misunderstandings but emphasizes the benefits of the migration, which includes enhanced financial services and no immediate deadline for the switch.
FlatexDEGIRO has launched cryptocurrency trading for its German clients, offering 20 cryptocurrencies through a partnership with Wyden, Tradias, and Tangany. This collaboration ensures compliance with MiCA regulations and aims to enhance transparency in digital asset trading. Future plans include expanding services to Austria and the Netherlands, along with introducing crypto staking and savings plans.
Switzerland is witnessing a decline in ATMs, with numbers dropping from nearly 7,300 in 2019 to just over 6,200 last November. However, Banca Stato in Ticino plans to expand its network from 58 to 60 ATMs by 2025, reflecting a commitment to community accessibility. While cash transactions are decreasing, the future of ATMs remains uncertain as digital payment methods gain popularity.
UBS benefits from a de facto state guarantee, estimated to subsidize the bank by CHF 2.6 billion annually, according to a University of Bern study. This implicit support reduces financing costs significantly, especially during crises, while the future of such guarantees remains a contentious issue amid ongoing legislative discussions.
Sygnum Bank is expanding its European presence by collaborating with Societe Generale-FORGE to offer the EUR CoinVertible (EURCV) stablecoin to over 20 partner banks by Q1 2025. This MiCA-regulated stablecoin, launched on the Ethereum blockchain, aims to enhance institutional adoption of digital assets in Europe, providing a secure bridge for traditional financial players. Sygnum's strategy leverages the new regulatory framework to increase access to digital asset solutions for its B2B partners and their clients.
Switzerland faces significant risks with UBS's size, especially after its acquisition of Credit Suisse. While some suggest relocating UBS's headquarters abroad to mitigate these risks, such a move could harm Switzerland's financial reputation, lead to job losses, and reduce tax revenues. Instead, fostering competition within the banking sector may provide a more sustainable solution to address systemic risks.
Switzerland faces significant risks from UBS's size, especially after its integration with Credit Suisse. While some suggest relocating UBS abroad to mitigate these risks, such a move could harm Switzerland's financial reputation, lead to job losses, and reduce tax revenues. Instead, fostering competition within the banking sector is essential for resilience and stability.
The debate over UBS's potential relocation from Switzerland highlights concerns about the risks posed by its size. Experts warn that moving headquarters abroad could harm the Swiss banking sector, leading to job losses, diminished international reputation, and tax revenue declines. Instead, fostering competition among banks may be a more effective solution to mitigate the "too big to fail" dilemma.
Swiss banks are significantly reducing their workforce, with job vacancies dropping to 570 at the end of 2024 from over 900 in December 2023. UBS, which includes Credit Suisse, has seen its openings halve, while PostFinance, Zurich Cantonal Bank, and Julius Bär also report declines. Despite a 3 percent overall drop in job announcements for five consecutive months, UBS has increased its listings by 15 percent, reaching about 160 offers, the highest since last summer.
Swiss banks are advertising significantly fewer job vacancies compared to a year ago, with around 570 positions listed at the end of December, down from over 900 in December 2023. UBS has seen a slight increase in job postings, with a 15 percent rise from the previous month, but overall vacancies across the ten largest banks fell by 3 percent from November to December. Notably, the number of job advertisements at Credit Suisse and UBS combined has halved in the past year.
PostFinance Fonds 3
Companies
The information provided herein is generated by experimental artificial intelligence and is for informational purposes only.
revolut faces backlash over swiss iban migration confusion for customers
Swiss Franc
Credit Suisse High Yield Bond Fund, Inc.
PostFinance Fonds 3
Revolution Medicines, Inc.
LTU
Show more
15:00 30.01.2025
flatexDEGIRO launches cryptocurrency trading with new partners for enhanced services
PostFinance Fonds 3
FiveT Fintech AG
flatexDEGIRO AG
InCore Bank AG
Luzerner Kantonalbank AG
Baader Bank AG.
DEU
Andy Flury
Oliver Behrens
Show more
11:26 30.01.2025
Ticino sees ATM growth amid nationwide decline in Switzerland
Swiss Franc
PostFinance Fonds 3
Credit Suisse High Yield Bond Fund, Inc.
Raiffeisen-Osteuropa-Rent
CHE
Lorenzo Squellati
Show more
06:47 29.01.2025
ubs receives annual state subsidy of 2.6 billion francs according to study
Swiss Franc
PostFinance Fonds 3
Credit Suisse High Yield Bond Fund, Inc.
Swiss National Bank
Zürcher Kantonalbank
USA
CHE
Dirk Niepelt
Show more
18:08 28.01.2025
Sygnum Bank partners with Societe Generale to expand European digital asset offerings
United States Dollar
PostFinance Fonds 3
VZ Depotbank AG
LIE
ARE
FRA
SGP
CHE
LUX
Fritz Jost
Jean-marc Stenger
Show more
14:14 23.01.2025
switzerland weighs risks of ubis relocation amid banking stability concerns
United States Dollar
PostFinance Fonds 3
Credit Suisse High Yield Bond Fund, Inc.
CHE
Peter Bodenmann
Dominik Buholzer
Georg Junge
Show more
09:26 23.01.2025
switzerland weighs risks of ubis relocation amid banking sector concerns
United States Dollar
PostFinance Fonds 3
Credit Suisse High Yield Bond Fund, Inc.
CHE
Peter Bodenmann
Dominik Buholzer
Georg Junge
Show more
06:59 23.01.2025
switzerland debates risks of UBS headquarters relocation amid banking concerns
PostFinance Fonds 3
Credit Suisse High Yield Bond Fund, Inc.
USA
ISL
IRL
CHE
Peter Bodenmann
Dominik Buholzer
Georg Junge
Show more
06:59 23.01.2025
swiss banks reduce job vacancies as hiring trends decline
17:00 17.01.2025
Swiss banks report significant decline in job vacancies compared to last year
United States Dollar
Credit Suisse High Yield Bond Fund, Inc.
Zürcher Kantonalbank
PostFinance Fonds 3
CHE
Show more
11:00 17.01.2025
Trending
Subcategory
Corporate News
Industry Trends
Stock Market Updates
Industry Mergers & Acquisitions
Workplace Trends
Global Financial Events
Retail and Consumer Goods
Banking Regulations
Finance Mergers & Acquisitions
CEO Changes
Market Analysis and Predictions
Government Policies
Startups & Entrepreneurship
Central Bank Actions
Global Trade Developments
Domestic Politics
Financial Scams and Security
Private Equity Deals
Government Economic Policies
Corporate Social Responsibility
Countries:
Companies:
JPMorgan Chase & Co.
Tesla, Inc.
Barclays PLC
Credit Suisse Lux Digital Healt
Bank of America Corporation
UBS Group AG
Deutsche Bank Money Market PP
Apple Inc.
BNP Paribas SA
The Goldman Sachs Group, Inc.
Wells Fargo & Company
Commerzbank AG
Banco Santander, S.A.
SpaceXCoin USD
UniCredit S.p.A.
Amazon.com, Inc.
Morgan Stanley
Danske Bank A/S
NVIDIA Corporation
Google Inc.
Currencies:
United States Dollar
Euro
British Pound Sterling
Chinese Yuan
Swiss Franc
Indian Rupee
Japanese Yen
Hong Kong Dollar
Danish Krone
South Korean Won
Australian Dollar
Singapore Dollar
Russian Ruble
Offshore Chinese Yuan
Canadian Dollar
Mexican Peso
Indonesian Rupiah
Turkish Lira
Chilean Peso
United Arab Emirates Dirham
People: