Fintech Market Overview

This article does not constitute legal advice.

Client identification in Switzerland

Fintech Software

There is currently no generally recognised digital identity in Switzerland. However, various efforts have been undertaken to raise digital awareness in Switzerland and to introduce a generally recognised digital identity. The Federal Act on Electronic Identification Services required private providers (supervised by the federal administration) to issue recognised digital identities; however, the Act was rejected in a public vote on 7 March 2021. The Federal Administration is currently preparing a revised project. Although, on 22 November 2017, two private project groups (one from Swiss Federal Railways and the postal service, Swiss Post; the other from the former state telecoms company and two major banks, UBS and Credit Suisse) announced that they will join forces and set up a private provider under the name of Swiss-Sign, this has not yet led to the establishment of a broadly accepted Swiss e-ID.1

Switzerland has recognised for some time that an electronic signature guarantees the authenticity of a document, a message or other electronic data and ensures the identity of the signatory.1

Digital onboarding in Switzerland

Fintech in Switzerland

Fintech in other countries

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Swiss Fintech Lawyers

Maxim Minaev

Maxim Minaev

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

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  1. https://thelawreviews.co.uk/title/the-financial-technology-law-review/switzerland
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