15 minutes from the centre of Geneva, there was an historic moment yesterday (25.05.01) when the first Internet-only Swiss bank went online offering clients a full range of banking and investment services.
Swissquote was created in line with the latest technologies in banking and offers its clients trading on the SWX; this will be extended in the near future to include the US stock markets. In a few weeks' time, Swissquote Bank will also start selling investment funds from some of the top names in the industry.
The bank has already acquired a considerable experience and large client base through their Swissquote Trade which has operated online brokerage services on the Swissquote financial portal already since November 1999. With nearly 10,000 customers and a market share of 15%, it is the no. 3 on the Swiss market behind the two big banks, UBS and Credit Suisse.
Banking has made Geneva what it is today. But centuries of history and tradition have not held banks back from participating actively, and interactively, in the New Economy. For example, leading banks UBS and Credit Suisse have developed an imposing presence online though Swissquote Bank is the first Swiss bank to function only online without any supporting bricks-and-mortar branches.
Located in a lovely town called Gland on the banks of the Lake of Geneva, Swissquote Bank was the brainchild of two former graduates of the leading polytechnic in Western Switzerland (EPFL) which is noted for its strong encouragement of start-ups.
Marc Bürki and Paolo Buzzi share CEO responsibilities. Marc Bürki says: ‘We created the Swissquote platform in 1997 following a number of years of active involvement in the development of innovative web based information services. Swissquote specialises in the diffusion in real-time of financial information via the Internet as well as in several leading Swiss daily newspapers. It is one of Switzerland's most visited financial information sites. With an average of 3.2 million page views every working day, Swissquote has, in fact, become one of the most visited web sites in Europe.’
‘In 1999, we launched Swissquote Trade with the simple but firm intention to make on-line trading truly user-friendly. Swissquote Trade manages on-line trading directly with the Swiss Exchange. It met with immediate success.
‘Back in 1990 when we founded the parent company of Swissquote, no one could have foreseen that a new worldwide communications network called the Internet was going to dramatically change all our futures. Ten years on, we can be proud and pleased with what we have achieved. Especially the transition from traditional banking and trading to that of the New Economy.’
‘Banking is second nature to the Swiss and we recognise the new kind of challenge and opportunity represented by the New Economy but, at the same time, our responsibility to the Geneva financial centre and the reputation for excellence and trustworthiness that has been built up over many years. Thus as Swiss pioneers within the web intelligence industry, we have striven to maintain unmatched customer care, whilst building on our passion for technology and innovation. Over the years, our company has developed unique skills within such diverse areas as marketing, communications, financial services, web design and IT. This has allowed us to develop a winning formula for Swissquote online.'
‘We are also ready for the future. At a time when the business landscape is being redefined by the Internet and high bandwidth networks are becoming widely available, the advent of an array of new services is only months or a few years away. With our command of new technologies, Swissquote will undoubtedly become a key player on the Internet scene in Switzerland and internationally. No one can tell where today’s New Economy actors will be in another 10 years. But our aim in this exciting future is to continue to play an active role in the development of the New Economy and, through our creative energy, to communicate our innovative vision of the Internet.’
Swissquote is the latest in a series of innovative Internet-related developments in the region that have helped to confirm Geneva’s major contribution in the field starting with the invention of the World Wide Web in the city in 1990.
Visit
Swissquote press release:Go to link
Other links of interest
Banking and Finance in Geneva
Geneva Financial Center:Go to link
Business-friendly environment: Go to link
Geneva’s world-class infrastructure and advantages
Why high-tech leaders choose Geneva: Go to link
US team identifies Geneva’s winning formula - Location, Language, Lifestyle, Labor and Laws : Go to link
Ideal business location at the heart of Europe: Go to link
World-class infrastructure: Go to link
International Geneva: Go to link
Multiinational companies in Geneva: Go to link
International organisations in Geneva: Go to link
Innovative Internet-related developments in Geneva
First WISeWorld EC Security Conference in Geneva: Go to link
E-business - Cultural awareness still counts – Geneva’s triple advantage: Go to link
Geneva - Birthplace of the World Wide Web: Go to link
Geneva leads Switzerland into voting by Internet: Go to link
Geneva university team wins international accolade for best electronic watermarking: Go to link
EPFL and start-up boom
‘Start-up boom continues in Geneva region - not like USA’: Go to link
