Swedish insurance group Skandia has launched a new Internet bank in Switzerland catering for expatriates.
Skandia Bank Switzerland is a wholly owned subsidiary of Skandia and is independent from SkandiaBanken, which is established in Sweden, Norway and Denmark.
The online bank caters primarily to expatriates, offering a range of services including deposit accounts, credit cards, mutual funds, equity trading, and accounts in various currencies.
Skandia Bank Switzerland's main channel is the Internet. A complementary phonebanking application is available for customers choosing not to perform banking transactions via the Net.
Security for both applications is achieved by issuing customers with Digipass 250 authentication tokens from Brussels-based e-security company Vasco.