For many years, Swisscom has been working with Finnova on the industrialisation of the Swiss banking market, operating Finnova’s banking software for over 70 customer banks. Both companies are now formalising their close relationship, with Swisscom acquiring a nine per cent stake in finnova AG Bankware (Finnova). As a result, Swisscom is one of nine companies with an interest in Finnova. Marcel Walker, Head of Swisscom’s Banking division, will become a member of the Board of Directors. Marcel Walker: “We believe in Switzerland’s financial centre and are doing everything we can to successfully accompany banks on the journey to a networked future. As a strategic partner to Finnova, we will be able to continue pressing ahead with the industrialisation of the Swiss financial sector and strengthen its innovative power. This investment is a reflection of our close cooperation. Both Finnova and Swisscom will, however, continue to adhere to an open partner strategy.” The two sides have agreed not to disclose financial details of the deal.
The financial sector is facing substantial changes and considerable challenges as a result. The needs of customers vis-à-vis their bank have changed radically – digital and mobile business processes are essential. At the same time, cost pressures are increasing, which are requiring banks to take new steps in industrialisation, particularly with regard to IT and processing.
Swisscom and Finnova are already making successful contributions to the financial sector: projects such as the processing centre for banks based on the Finnova core banking system, the expansion of front office banking software and the development of a digital, multi-channel customer advisor workstation have characterised the strategic partnership between Swisscom and Finnova in recent years.
Swisscom’s Enterprise Customers division is the biggest provider of ICT solutions for corporate customers in Switzerland. Its core competencies are in the provision of integrated communication solutions, IT infrastructure and cloud services, workplace solutions and SAP services as well as a comprehensive range of outsourcing services for the financial sector. With a 4,500-strong workforce, Enterprise Customers serves some 6,000 customers.
Finnova is a leading provider of banking software in the Swiss financial centre. We help banks and outsourcing providers to realise growth in the banking sector, even in challenging times, thanks to efficient and innovative IT solutions compliant with regulatory requirements. “Smarter banking” with Finnova – that is what we stand for. And that is why over 100 banks have already put their trust in us.
Founded in 1974, Finnova AG employs around 350 people at its headquarters in Lenzburg and other branch offices in Chur, Seewen, Lausanne and Singapore. Its standard solution, Finnova Banking Software, is currently used by around 80 universal banks and 20 private banks. They benefit from the software’s extensive functional breadth and depth, combined with the lowest total cost of ownership (TCO) in the industry. Finnova’s outstanding scalability and parameterisation capability enable banks to implement their strategic requirements efficiently, within budget and on schedule.
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