Final demo day at Fusion

The Fintech Fusion Demo Day took place on September 7th 2016, concluding the first year of the Fintech acceleration program in Switzerland.

And we can say with enthusiasm that the start ups presented in a very professional and convincing manner their company and solutions to business angels, corporate investors and venture capitalists. We had the impression that we were in a TED conference or an Apple Keynote!

All these entrepreneurs have a vision, strong technical skills and great motivation. And dreams! And this day was not only the occasion to celebrate a group of entrepreneurs by recognizing their achievements to date but also an opportunity to make their dreams come true.

This is certainly one goal of the Fintech 12-month acceleration program. As Guillaume Dubray, Founder of this incubator, mentioned in his welcome word: “acceleration is a hard work where start ups must show determination and commitment, acceleration is all about building better products, validating customer interest and accepting to make changes when things do not work. It is about sharpening the business proposition, learning how to pitch well and convincing buying interests”.

What we can bring home from that Demo Day ?

First, solutions are being developed and offered by innovating companies. All these people are participating to the reshaping of the asset management and banking industry.
Second, we start feeling that the advisory services are being redefined to a more collaborative approach and closer relationship between the providers and the customers. Not only do we see solutions that facilitate the profiling of clients’ needs but also a willingness to democratise offerings that were offered so far only to high net worth individuals.
Third, these start ups are positioned in the B2B segment and target to help traditional actors to improve their processes by evolving from artisanal and subjective tasks to accurate, automated and objective processes. This is called digital efficiency or, in other terms: faster, better and less expensive.
Fourth, without any surprise, a lot of solutions are related to big data. These aim to increase portfolio management facilities by enabling deeper and broader analyses of investment universe when it comes to build or to monitor clients’ assets.

Technology seems to be magic but it has to remain built on core competences, understanding of clients’ needs and commitments to quality. We still need all these ingredients to build and maintain trust and long term relationships with clients.

@ to all the entrepreneurs participating to the Fusion Program : make your dreams come true ! Find the right partner and let’s make Switzerland a strong and successful financial center.

Final Demo Day at Fusion – KYC3 during its pitch

When regulatory projects induce Fintech applications

Not one day goes by without the term “Fintech” appearing on the agenda of a conference, on newspaper titles, in coffee-break chats. Its definition remains however quite abstract for many. Whereas the root of the word itself is quite clear – a contraction of “Finance” and “Technology”- its every-day applications are still quite few. Among these we can mention the payment applications such as “Twint” of Postfinance or “Paymit” of UBS and the ZKB, as well as Robo-advisors in wealth management used by Truewealth in Zurich.

The basis of a new industry, or the development of a sector of it, is largely dependent on the regulatory environment that controls it. As an example, the publication, on December 21st, 2015 of the FINMA’s project of circular concerning “Video and online identification” was well received by the main actors of the market and shows the intention of the regulator to act proactively. The fact that this measure will come into force in March 2016 reinforces this feeling.

The implementation of this certification will complete the existing online onboarding procedures for clients and will increase the digitalization of banking processes. The question is, how will the first visual contact with the client be taken care of (Skype, Facebook, Twitter, …?). More on the next batch.

Translation: Irène Olivet-Mircea

Notz Stucki supports Fusion, the Swiss FinTech Factory

Fusion – the first-ever FinTech business incubator in Switzerland – exists to shape innovation in financial services by combining up-and-coming tech talent with Swiss state-of-the-art financial know-how.

As a Fusion member, Notz Stucki is actively involved in the incubation process.

We believe that technology can have a strong contribution provided it is well managed, targets specific needs and abides by user-related and safety standards.

It can undeniably create value by influencing our business models and the ways in which we interact within our environments. The advent of new technologies and their increased importance in day-to-day life is self-evident. Hence we deem it vital to face the technological and social challenges looming in our industry head on. Yet we also think that the magnitude of the issues at hand and the costs involved preclude us from acting alone. That is why we need to team up now with tomorrow’s experts.

Being part of Fusion is not only an adventure but will also strengthen our skills network. Fusion will force us to think differently through the exchanging and common evaluation of diverse sets of ideas, visions and perspectives. Proactive, not reactive, we might say. By joining forces with Fusion, we will have the resources for adapting to tomorrow’s paradigm and the changes that this will entail in regard to client relations.

Notz Stucki is involved with Fusion in several ways. We help finance the running costs. Membership also confers the privilege of helping select the start-ups allowed into the incubator. We shall also provide development support to firms by sharing our grassroots experience and understanding of client expectations. Richness of interaction, the quality of the ties forged and the momentum generated by this ecosystem will together represent the bedrock of success in this joint effort.