IFZ FinTech Study 2023

Financial technology, also known as FinTech, has changed the way financial services are offered and used. Over the last few years, FinTech companies have become important providers to the Swiss financial sector by developing and offering innovative, technology-based solutions for the traditional financial service industry. Since the initial survey of the sector in 2016, it has been changing continuously. While the first few years were characterised by growth, last year's evaluation saw the first contraction in the number of FinTech companies based in Switzerland. In 2022, however, the Swiss FinTech sector successfully returned to a path of growth. At the end of 2022, Switzerland was home to a total of 437 FinTech companies, which corresponds to a growth of 14 percent compared to the previous year. This positive development is not least due to the good conditions in Switzerland — also in international comparison — which seem to be materialising again. It is also expressed in the increasing investment volumes in the Swiss FinTech sector, which, in contrast, have decreased at the global level. The dynamism of the sector is also reflected in the companies' business models, which is exemplified by the increasing focus on sustainability. The aim of this study is to assess the state and the evolution of the Swiss FinTech sector, drawing upon the methodology established in prior editions. The study endeavours to examine trends in the sector as a whole and in the specific business models of domestic FinTech companies and may offer insights for a diverse range of stakeholders within the Swiss financial sector, including FinTech companies, traditional financial institutions, and political decision-makers.