Press release

Several banks rely on Swisscom for digital customer account opening and outsourcing of securities data

Swisscom enjoyed various success stories in the banking sector in the third quarter: the cantonal banks of St. Gallen and Thurgau decided to reduce their costs by sourcing securities data from Swisscom’s bank processing centre. And Glarner Kantonalbank, WIR Bank and BANK-now are simplifying their customer account opening process by incorporating Swisscom digital identification and electronic signatures. This enables them to reach a market area outside of their branch network.

Berne, 29 September 2016

Since 2015, Swisscom has offered Swiss banks a business outsourcing service for formatted securities data. To ensure the seamless integration of the business outsourcing service, Swisscom has connected the Avaloq banking platform used by the cantonal banks via adapter to its Finnova processing platform. The two cantonal banks from Aargau (AKB) and Thurgau (TKB) have been using the service since 2015. Now, the cantonal bank of St. Gallen (SGKB) has also opted for this solution. And from 2017, Swisscom will also be providing this service for a number of regional banks from the former Entris Association. With this step, the banks can reduce their costs for securities data management.

Digitisation strategy with online customer account opening

Since spring, Valiant Bank has been offering its customers and interested parties an entirely online customer account opening facility with the “Digital Identification & Signing” service from Swisscom. Now, two other banks – BANK-now and Glarner Kantonalbank – have also chosen this solution. Their customers and interested parties can now simply and conveniently open accounts and products from home – without the need to visit a branch or provide physical identification. All they have to do is print out, sign and return the identification documents. This process is still unique in Switzerland. With digital customer account opening, all three banks are strengthening their Swiss operations and reducing the burden on their branches. This additional service is also more convenient and enhances the customer experience. Jochen Wölpert, Head of Innovation at BANK-now: “BANK-now opted for the Swisscom solution, as it provides our customers with simple and convenient access to our bank and we can count on them as a reliable partner for secure digital identification.”