“We have to shape the future of our banking sector” 

Roman Studer, industry, exports and research are all key contributors to Switzerland’s prosperity. What can the banks bring to the table? 

Quite a lot. The banking sector directly contributes around 5% of GDP, employs over 160,000 highly qualified staff and pays some CHF 7 billion a year in tax. Adding in the indirect effects, meaning the impact on other sectors that are closely tied to banking, brings us to around 330,000 jobs, 8% of GDP and CHF 8.5 billion in tax. However, the importance of banking extends far beyond these figures. It supplies companies with capital, enabling them to invest, reducing their financing costs and enhancing Switzerland’s overall economic resilience. A strong banking sector is therefore essential to Swiss industry. It funds domestic investment, opens up access to international markets and is thus an active partner in innovation and growth. 

The new study shows that the Swiss banking sector is hugely important for the economy, but it also faces significant challenges. Where do you think action is most urgently needed? 

We can’t take the strength of Swiss banking for granted. We operate in an extremely competitive and ever more complex global environment, so we need to be rigorous in capitalising and building on our strengths. We need to maintain trust and stability while remaining open to new ideas and change.

Let us start with trust and stability. Why are they so important? 

Trust and stability are the foundations of our business. Switzerland offers the best possible conditions: a stable legal system, robust institutions and finances, an independent currency and widely recognised neutrality. The value of these qualities is timeless, but it becomes all the more evident in a fragmented world. Many customers around the world are consciously choosing Switzerland precisely because they are looking for this dependability. That’s why actively protecting our country’s advantages is vital.

We keep hearing how vital a competitive regulatory framework is. What does that mean in concrete terms? 

Good regulation isn’t an end in itself – it builds trust, but it can’t be allowed to stifle competition and innovation. What we want is an internationally aligned framework that guarantees stability but also ensures entrepreneurial freedom. That applies not just to capital adequacy and liquidity requirements, but also to areas such as governance, ESG risks and combating financial crime. We need clear rules, but we also need the flexibility to permit new business models.

Economic openness is another hot topic at the moment. Where do you see the biggest challenges in this respect? 

Access to international markets is essential for Swiss banks. Without it, we lose relevance, and that affects the whole country. That’s why we have to do more to develop practicable solutions that allow the banks to operate successfully around the world. At the same time, we have to play an active part in shaping global financial policy.

Why is that so important for Switzerland? 

The rules of engagement in the world of finance, for example with regard to digital payments, are increasingly defined by international bodies. If Switzerland doesn’t have a seat at the table, it risks becoming a mere rule-taker rather than a rule-maker. It’s important for an internationally networked banking sector like ours to represent its interests directly in decision-making processes.

The Swiss banking sector’s reputation has traditionally been a big competitive advantage. How can it be safeguarded? 

Tradition, quality and integrity are our strengths, which is why we have to comply systematically and credibly with the rules. Violations must not be tolerated. Only if we meet the very highest standards – both nationally and internationally – can we preserve the trust we have spent decades building. Our reputation is a fragile asset, and we need to take care of it.

You mentioned innovation. Just how forward-looking is the Swiss banking sector? 

The future of banking definitely lies in digitalisation. Technology is clearly our most important growth driver, and Switzerland is performing well in this respect, be it with TWINT, blockchain applications or partnerships between banks and fintechs. The SBA is very much involved: its Cloud Guidelines have given banks easier access to cloud-based services, and its expert reports on topics such as generative artificial intelligence and stablecoins provide insights into new developments shaping the future of our sector. We can’t afford to rest on our laurels. The digital transformation is gaining pace in terms of processes, customer experience and infrastructure. Our ecosystem is powerful, but we need to get large institutions and young innovators working together even more closely.

What are your hopes as regards politicians, business and the sector? 

We have to view the banking sector as an all-encompassing strategic project. Politicians, supervisory authorities, financial institutions and start-ups alike all have a part to play. Personally, I would like to see more dialogue, more courage to shape the future and more of a shared focus on competitiveness – in short, more “Team Switzerland”. On top of this, we have to be proactive rather than reactive. This is our responsibility and also our opportunity.