Swiss Fintech Innovations and Swiss Finance Startups will work closer together. This collaboration is based on their shared understanding that Switzerland needs to become a world-leader for digitization and innovation in the financial industry. As a first step they will join their working group on application programming interfaces (API) standards.
Working together to strengthen the ecosystem
The potential of Switzerland to become a leading center in fintech is significant, with its strong financial market, its high-quality education and a stable economic and political system. Important to achieve this is a strong focus on innovation. Innovation is driven by many stakeholders such as established financial institutions and startups. Swiss Fintech Innovations is an association of Swiss financial institutions committed to drive collaboration and digital innovation in the financial services industry. Swiss Finance Startups is committed to strengthen startup interests to foster the overall fintech ecosystem. Both associations share the vision of Switzerland as leading fintech center and both have working groups that approach relevant subjects related to digitization and innovation in the financial sector
Joint working groups on fintech topics
In some topics progress depends on involving all relevant players within the ecosystem – startups and incumbents. This is why Swiss Fintech Innovations and Swiss Finance Startups joint their efforts. As a first step Swiss Finance Startups will join the API (Application Programming Interface) working group of Swiss Fintech Innovations. This working group focusses on defining a common API standard through which financial institutions and startups are enabled to provide information and services. This will create opportunities for fintechs by permitting them to develop innovative and sustainable new business models based on the availability of a standardized application programming interface. Other topics of collaboration between the two associations will follow.