Improving regulations and accelerating digitalisation to remain competitive in the future
Switzerland’s financial markets are crucial to its economy and prosperity. The country is seen as a safe haven for investors because of the strong Swiss Franc and its world-famous financial centre. The global financial crisis, subsequent regulatory changes and ongoing digitalisation have radically transformed the country’s financial sector. The COVID-19 crisis and the consequent extension of low interest rates will further test the industry. The regulatory framework should take competitiveness into account to a larger degree, not least due to the likely increased competition from financial centres such as the UK (London) and the Channel Islands. Companies need to ramp up their digitalisation strategies and optimise their liquidity management.
Here are what policymakers and businesses need to focus on - improved regulations, accelerated digitalisation - to power up Switzerland’s financial sector in the decades ahead.