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Benedicte Gravrand, Opalesque Geneva: As the banking industry is evolving in terms of efficiency, streamlining and innovation, Swiss banking lags. And if Swiss banks do not catch up in the next few years, they may not survive,
according to a white paper by the Swiss Finance Institute, a Geneva-based foundation focused on research and education.
In a white paper called Industrializing Swiss Private Banks: A Strategic Road Map, Pascal Gantenbein, professor of financial management at the University of Basel and Kristof Trautwein, who holds an MSc in business and economics from the same university, set out to analyse the industrialisation processes of Swiss private banks and give recommendations for doing so.
Banking industrialisation is a broad catchall term for breaking banks’ value chains up in order to achieve higher efficiency, innovation, and reduced complexity. That includes digitisation, new services, and the use of service providers.
From 2007 on, the banking system has shifted its business focus away from investment banking toward wealth management or private banking, and improved its technology or services. The business of banking has become more complex too, what with new technology, new regulations, more complex operational systems and financial products, and the interconnection of business functions. New players use disruptive innovations and offer new ways to conduct business, such as digitalisation (Fintech and mobile banking).
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