Snapshot Graphic SwitzerlandBI Intelligence

Switzerland is not a major player on the European fintech stage, but the country's burgeoning industry isn't one to be overlooked. Two cities in particular — Zurich and Geneva — have been getting media attention due to their potential for fostering fintech industries, and the Institute for Financial Services Zug (IFZ) placed both in the top five of its 2017 IFZ Global FinTech Rankings. Most notably, the country is attracting attention in the cryptocurrency space, with the Swiss Financial Market Supervisory Authority (FINMA) taking an active approach to promoting the development of the sector. And while it seems unlikely that Switzerland will be able to substantially rival other European countries like the UK, Ireland, Germany, and France, when it comes to attracting fintech funding, it could succeed in developing a reputation for itself as a cryptocurrency hub, with a stable, albeit smaller, broader fintech industry.

country snapshot switzerlandBI Intelligence

Fintech Hubs

Zurich. The city is known as Switzerland's financial center, meaning that fintechs located in the city are close to established financial institutions they can potentially partner with or sell to if they operate a business-to-business (B2B) model. Zurich had the sixth-highest index score — based on the World Bank Doing Business Index, the Global Innovation Index, and the Global Financial Centres Index — in “Deloitte's Tale of 44 Cities,” suggesting a good infrastructure for fintechs to establish themselves in. Additionally, Switzerland’s highest-ranked university is the ETH Zurich (Swiss Federal Institute of Technology). The university is ranked fifth in the world for engineering and technology, and most of its Masters programs are taught in English. That combination is likely interesting for fintechs, as it could provide them with a large potential talent pool. In addition, Zurich has set up various fintech incubators and accelerators; <a href="http://swissfinancestartups.com/about-sfs/" target="_blank" [...]