Canada    FinTech Guide    Chapter 8    Switzerland

8. Online Banking Services
Switzerland  Switzerland

Generally there is positive feedback on online banking however there are also reservations regarding the use of e-banking. The reasons for this are manifold: security considerations, computer viruses, no computer affinity.

Legal Affairs

The activities of banks and securities traders are generally subject to licences granted by FINMA in Switzerland, irrespective of the way in which the services are offered. Anyone wishing to offer e-banking in Switzerland will in any case require authorization as a bank or securities dealer by FINMA. However, existing banks and securities traders need no special, additional authorization if they wish to expand their business to the Internet.

E-Banking is not subject to any special regulation in Switzerland. This does not mean that electronic financial services and products are not regulated. The provisions applicable to all banks and securities traders in a specific area are transferred analogously, as far as possible, to the new (E-Banking) concepts.

Almost all banks in Switzerland offer online banking services and pertinent mobile apps.

As mentioned under Section 1. Payment Services - Switzerland, banks in Switzerland are reluctant to grant an Application Programming Interface (API) to third party FinTech providers in order to act as AISP (Account Information Service Provider) or PISP (Payment Initiation Service Provider) and there is not law as the PSD2 granting such interface and access.

Economic Conditions

The market for online banking is big and almost every bank provides their customers with online access. The market for FinTechs is limited for the reasons mentioned above.


An opening of the Swiss market under a Swiss “PSD2” is not excluded. Also Google and Apple with its App Store might bring pressure on the banks to open this market.

Contributing Authors

Hartmann Müller Partners

Jürg E. Hartmann
Zurich, Switzerland

Markus Aeschbacher
Zurich, Switzerland

Search by:

Chapter Index:

1. Payment Services / Mobile Payment

2. Asset and Portfolio Management

3. Consulting and Broking Services / Robo-advisory / Auto-trading

4. Trading Platforms / Social Trading Platforms / Signal Following

5. Crowdfunding / Crowdinvesting / Crowdlending

6. Virtual Currency - Bitcoin

7. Loan Services / Factoring / Loan Broking / Finetrading

8. Online Banking Services

9. Analytics and Research / Data Management / Risk Management

10. Accounting

11. Identification

12. Online-pawning

13. InsurTech

14. RegTech

15. Initial Coin Offerings (ICOs)

The information in this guide provides a general overview at the time of publication and is not intended to be a comprehensive review of all legal developments nor should it be taken as opinion or legal advice on the matters covered. It is for general information purposes only and readers should take legal advice from a Multilaw member firm.

Publication Date: 1 May 2018