Fintech Market Overview

This article does not constitute legal advice.

Artificial intelligence in financial products


Regulations applicable to AI projects are not different from those relevant to the actual project. Of particular interest in the ongoing debate is the issue of compliance and liability when it comes to data protection and confidentiality, as well as who must assume responsibility for decisions made by deep learning systems. Compliance-based rules suggest that a regulated entity must possess an understanding of and assume control over its decision parameters (e.g., risk management). Liability problems remain unresolved regarding ungoverned deep learning with neural networks. To tackle this, the government established a working group on AI matters; subsequently, it released a report in December 2019 which included recommended procedures for the Federal Administration, but no legislative offers. In addition, some insurers are trialling various Insurtech products, for example in managing claims, helping customers and making use of AI for risk analysis. Moreover, B3i - the International Blockchain Insurance Industry Initiative based in Zurich - is actively seeking to make these ideas more tangible.1

Data protection in Switzerland

Fintech in Switzerland

Fintech in other countries

Let's introduce you

Swiss Fintech Lawyers

Maxim Minaev

Maxim Minaev

We provide legal and organizational services for the creation, structuring and development of fintech companies

Kristina Berkes

Kristina Berkes

Participation as a lawyer at investment venture funds, leading venture M&A deals in IT, supporting iGaming and business assets

  1. http://www.sbfi.admin.ch/sbfi/de/home/bfi-politik/bfi-2021-2024/transversale-themen/digitalisierung-bfi/kuenstliche-intelligenz.html