Facebook and Apple allow their users to exchange money with one another. Amazon grants loans to its sellers and is about to offer checking accounts to its younger users. Google Pay is the perfect online substitute for our analogical wallet. How long will it take before the GAFA (Google, Amazon, Facebook, Apple) enter the banking club officially? Should commercial banks feel threatened by the big tech companies?
READ MOREThe Basel Committee on Banking Supervision (BCBS) has recently agreed on a new set of rules with more restrictive requirements for the banking sector. These provisions will force European banks to converge to standardised risk-weighting of their assets by 2027 and should create better harmonisation of international capital requirements.
READ MORENow that the Swiss are on board with the Automatic Exchange of Information (AEOI), hiding behind the banking secrecy clause is no longer an option. Switzerland needs to let off this golden parachute and consider new strategic choices to keep its competitive position.
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