The Swiss fintech sector has returned to the growth path. Since 2015, growth rates of between 6 and 18 percent had been recorded on an annual basis, with one exception: In 2021 it fell for the first time, by 5 percent to be precise. In comparison, it increased again by 14 percent in 2022. This development was highlighted by the IFZ Fintech Study, which was produced by the Lucerne University of Applied Sciences and Arts (HSLU) for the seventh time this year. The Institute of Financial Services Zug (IFZ), which is affiliated with HSLU, is based in Rotkreuz in the canton of Zug.
According to a summary press release, the investment management and banking infrastructure product areas recorded the highest growth rates. A trend towards sustainability can also be observed in the Swiss fintech market: 7.3 percent of all companies are focused on offering products and services of this kind.
Since 2017, the study team has also produced a fintech hub ranking. In terms of the quality of the framework conditions for fintech firms determined in this way, Singapore has led the way by some distance since the very beginning - and expanded this lead further in 2022. However, Zurich and Geneva currently sit in second and third place respectively, with Stockholm occupying fourth place to round off the European chasing group. A total of 35 financial centers around the world are analyzed every year.
The study also determines that although the number of financing rounds may have declined slightly in 2022, the overall sum invested actually grew by 36 percent. Nevertheless, although Switzerland was “able to largely escape the global downward trend”, study leader Thomas Ankenbrand explains in the press release, “access to funding for Swiss fintech companies also became perceived as more difficult on average”.
