‘The future of banking lies in digital ecosystems’
Where is the financial sector heading? In this interview, Clemens Eckert discusses the Core Banking Radar and the shift away from purely monolithic solutions – and explains why the banks of the future will have to think and act within ecosystems.
February 2026, Text Matthias Mehl, Smart Media Agency 4 Min.
Mr Eckert, what exactly is the Core Banking Radar published by Swisscom, in collaboration with the Business Engineering Institute St. Gallen (BEI)?
When I assumed responsibility for core banking at Swisscom in 2016, I asked myself a fundamental question: how exactly do the banking systems on the Swiss market differ? And, almost more importantly, which completely new systems might enter the market in the future? I quickly realised that no one could really answer those questions conclusively. That’s why I launched the Core Banking Radar (CBR) that same year. I wanted it to provide the transparency that was lacking and highlight the potential for the industry. However, this presented us with a problem.
Which was?
At Swisscom, we have enormous expertise in banking IT, but manufacturers are naturally reluctant to provide comparable, detailed information about their systems. With the Business Engineering Institute St. Gallen, we found the ideal, independent partner to implement the Core Banking Radar (CBR). The strong academic links with the University of St. Gallen and its neutrality are extremely valuable in this endeavour. In essence, the CBR is a highly transparent comparative approach in which we analyse almost 200 criteria. This is not about simply delivering a ‘good’ or ‘bad’ ranking, however – we identify the key aspects for each type of bank and also carry out proofs of concept. Ultimately, this is intended to help create an ideal platform that convinces both CIOs and the business units in the banks.
The survey shows what experts expect of a ‘next-generation banking platform’ for 2030 and beyond. What exactly are those expectations?
In future, banking will become increasingly integrated, and at the same time less visible. The e-ID and associated wallets are another exciting topic on this front. Digital ID management is a core competence that banks should prioritise. Experts also expect banks to become increasingly integrated into comprehensive ecosystems so they can deliver their services in a highly targeted way. In other words, we’re seeing a move away from isolated banking and towards collaborative services with third-party providers.
Can you provide a specific example of this integration into an ecosystem?
Take, for example, the ‘living and home buying’ ecosystem. Purchasing real estate is often a fragmented process today. A next-gen platform would enable banks to cooperate directly with real estate portals and seamlessly integrate their services within them. The customer would find their dream home and receive the right mortgage or investment account solution at the same time. These additional services in the value creation network will enable banks to massively increase the attractiveness of their traditional products. Experts are clear in their requirements: the platform would have to support such networks, be AI-enabled and simultaneously guarantee the highest security standards.
What technologies do banks need to put in place to make these visions a reality?
The foundation is a strategically smart and gradual move towards openness – in other words, open banking, where the technology is precisely tailored to the service in question. On top of this, they need the ability to work well with network partners and a willingness to embrace consistent platform modularisation. We have to move away from rigid structures towards a flexibility that allows for quick adjustments to business models. From a technical perspective, this means a strategic integration layer is essential so that peripheral systems can be flexibly connected to a powerful, streamlined core. Another key factor is the ability to process data consistently and continuously in real time.
What surprised you the most about the latest report?
Two things, actually. On the one hand, the experts are surprisingly cautious when it comes to revolutionising the customer channel. More than half of them believe that little will change in the front end – for the time being, they see digital banking looking much the same on mobile phones and PCs. On the other hand, we can see they have high expectations of the back end: more than 77 percent of respondents anticipate real-time processing. This is a huge challenge for the financial market. Today, we often talk about ‘T plus 2’ – that is, two days until a share ends up in the customer portfolio after purchase. At present, we only experience real-time in the strict sense with the blockchain and cryptocurrencies. Bringing these instant transactions to more traditional areas would indeed amount to a paradigm shift.
The report addresses the move away from monolithic systems towards open, modular ecosystem platforms. How would you rate the impact of this change?
You have to look at this in a nuanced way. From a technological perspective, it’s like a swinging pendulum: 20 years ago, we replaced old architectures with monoliths to reduce complexity. Today, the pendulum is swinging back to modular systems and microservices. This modern approach is the key to establishing networks – think of embedded finance: automatic payment with Uber, Buy Now, Pay Later options such as Klarna directly at the point of sale and geo-location triggers for travel insurance. When you arrive in a foreign country and get an SMS offering you insurance coverage for two francs a day – that’s ecosystem-based banking. This impact is enormous, because the bank is there where and when the customer needs it.
What specific lessons and measures has Swisscom identified based on the report?
Today, we are the largest provider of banking IT solutions and are actively developing Switzerland as a financial centre together with banks and fintechs. One milestone is that in 2026, we will offer the state-of-the-art, integrated Finnova.neo platform – both based on AWS for maximum scalability and in the Swisscom Private Cloud for absolute Swiss data sovereignty. With over 1,000 banking IT specialists, we are the stable and innovative partner the market needs. While we see ourselves as a smart thought leader in next-generation banking platforms, we are also taking a measured approach, as we recognise that proven systems such as Avaloq and Finnova are also evolving very effectively. Our job is to connect these worlds securely and sustainably.
What topics will be of particular interest to your customers in the future?
The key question is, who will come out on top with customers? Three factors will dominate here: firstly, the massive increase in data protection and system resilience requirements. Secondly, the integration of AI into value creation. And thirdly, banks’ high cost sensitivity. The challenge will be to deliver innovation that is not only technologically brilliant but also economically efficient and absolutely secure.