18 December 2017
visit www.avoka.com

UBS and Credit Suisse launch fintech accelerator

22 March 2016  |  25872 views  |  1 light bulbs

The two largest Swiss banks UBS and Credit Suisse, are partnering with Swisscom, Swiss Life and Ernst & Young to launch a fintech accelerator with an international target audience.

Operating under the umbrella of the Kickstart Accelerator, the programme is aimed at the most promising fintech start-ups worldwide that are still in an early stage, with a focus on wealth management, digital identity and blockchain. The first cohort for the three-month programme starts in Zurich summer 2016.

The initiative is supported by the two local fintech associations, Swiss Finance Startups and Swiss Finance and Technology Association.

The Kickstart Accelerator, an initiative of DigitalZurich2025, aims at promoting Switzerland as a leading international location for digital companies. The Accelerator will run three other focus programmes in parallel, in the fields of food, smart & connected machines and future & emerging technologies, with the aim of supporting cross-fertilisation of ideas from the different strands.

Other fintech accelerators in Switzerland include SIX Group's F10 incubator in Zurich, and Nexussquared, co-founded by a former UBS IT manager Daniel Casteiger.

The move by the two biggest Swiss banks comes a month after a damning report from Ernst & Young which stated that Switzerland's potential as a European fintech hub is being damaged by lack of Government and bank support and a shortage of investment capital.

Earlier this month, Swiss financial markets watchdog Finma pushed through a raft of new initiatives in a bid to stimulate further growth and innovation in the country's emerging fintech sector.

Among the changes include new rules on client onboarding to cover video and online customer identification and the introduction of a less onerous licensing category for financial innovators alongside a license exempt 'sandbox' for start-up companies.

Comments: (1)

Jean-Pierre Xiao-Min Wang
Jean-Pierre Xiao-Min Wang - IndiceA - Sophia-Antipolis, France | 22 March, 2016, 14:11

Banks accelerator & Fintech innovation :

" The hallmark of our times is change and acceleration, but we have to provide the history " --- A Swiss philosopher ?

Be the first to give this comment the thumbs up 0 thumb ups! (Log in to thumb up)
Comment on this story (membership required)

Finextra news in your inbox

For Finextra's free daily newsletter, breaking news flashes and weekly jobs board: sign up now

Related stories

Swiss regulator amends rules to allow fintech to flourish

Swiss regulator amends rules to allow fintech to flourish

18 March 2016  |  12680 views  |  0 comments | 36 tweets | 21 linkedin
Switzerland needs to become more fintech friendly or risk irrelevance

Switzerland needs to become more fintech friendly or risk irrelevance

08 February 2016  |  8491 views  |  0 comments | 23 tweets | 8 linkedin
Nexussquared launches virtual blockchain startup programme

Nexussquared launches virtual blockchain startup programme

26 November 2015  |  4251 views  |  0 comments | 8 tweets | 3 linkedin
Switzerland gets new fintech accelerator

Switzerland gets new fintech accelerator

30 September 2015  |  7237 views  |  0 comments | 16 tweets | 3 linkedin
Swiss fintech incubator Fusion ignites with first intake

Swiss fintech incubator Fusion ignites with first intake

24 September 2015  |  6832 views  |  0 comments | 11 tweets | 7 linkedin
SIX Group sets up fintech incubator

SIX Group sets up fintech incubator

13 August 2015  |  12796 views  |  0 comments | 20 tweets | 6 linkedin
UBS taps startup community with Future of Finance Challenge

UBS taps startup community with Future of Finance Challenge

12 August 2015  |  10128 views  |  0 comments | 16 tweets | 14 linkedin
Swiss banks join SIX and Swisscom to push mobile payments to the high street

Swiss banks join SIX and Swisscom to push mobile payments to the high street

05 August 2015  |  8438 views  |  0 comments | 10 tweets | 7 linkedin
Fusion to spark innovation in Swiss financial services

Fusion to spark innovation in Swiss financial services

08 May 2015  |  6642 views  |  0 comments | 8 tweets | 7 linkedin
UBS to investigate blockchain technology in new London innovation lab

UBS to investigate blockchain technology in new London innovation lab

02 April 2015  |  25049 views  |  0 comments | 36 tweets | 20 linkedin
Six undertakes hackathon talent challenge for new fintech incubator

Six undertakes hackathon talent challenge for new fintech incubator

20 March 2015  |  9543 views  |  2 comments | 10 tweets | 7 linkedin

Related company news

 

Related company information

Credit Suisse

Related blogs

Create a blog about this story (membership required)
visit www.ebaday.comvisit www.niceactimize.comvisit www.thomsonreuters.info

Top topics

Most viewed Most shared
satelliteRipple completes XRP Lockup
11103 views comments | 3 tweets | 2 linkedin
Banks tap Ethereum smart contracts for MiFID II complianceBanks tap Ethereum smart contracts for MiF...
9287 views comments | 19 tweets | 19 linkedin
Banks and fintech startups join forces on blockchain-based supply chain pilotBanks and fintech startups join forces on...
7630 views comments | 19 tweets | 22 linkedin
Nordea takes Open APIs into live productionNordea takes Open APIs into live productio...
7178 views comments | 6 tweets | 26 linkedin
hands typing furiouslyReshaping Customer Engagement & Da...
7029 views 0 | 4 tweets | 2 linkedin

Featured job

Find your next job