Future value creation in banking

Switzerland is one of the leading hubs for new asset classes such as alternative and digital assets. In yesterday’s exclusive BankersCom Conference fundamental questions such as the overarching geopolitical and economic impacts on the industry, the importance of collaboration between fintechs and banks, alternative and digital asset ecosystem developments and open banking were discussed.

Read some of the highlights of the day below - a more extensive report will be shared in due time:

?? Prof Dr. Klaus W. Wellershoff, Economist & Independent Advisor:

“ … from cup-cakes and selfies to co-shared living.”

The geopolitical and economic behavioral impact of the current turning point in the financial services industry can be seen in the ultimate urge for security which is the result of the past challenging years. GDP growth has been very low and will continue to drop - inflation is here to stay! Inflation leads to higher interest rates and?higher rates lead to lower valuations. Hence, asset allocations will need to be calibrated and diversification is key.?Positive outlook for those who are prepared for the times ahead.

?? Prof Dr Thorsten Hens, University of Zurich:

“… from behavioral differences in investing to behavioral differences between Argovian and Grisons farmers.”

Conclusion:?Economically, it is not worth fighting?and arguing?about?rational or?behavioral?finance,?efficient or?inefficient?markets and different investment styles.?One should follow the investment style that suits best one's personality?to?consistently invest along the roller coaster of?the?financial markets.

?? Filipo Rima, Credit Suisse Asset Management:

"... the biggest challenge we have in Asset Management in Switzerland is the talent drain … "

Whilst the focus of past years was on Wealth Management and Investment Banking,?Asset Management was underestimated, as growth is slower. Is this changing now, in a market situation where stability, lower risk and diversification become the key focus? Trends in Asset Management – apart from asset re-allocation and diversification is a strong demand towards sustainability and private markets.

?? Dr. Daniel Diemers, InCore Bank:

“Digital Asset and the Metaverse, Growth of the digital asset universe.”

The evolution of crypto finance: from the WAGME era towards institutionalisation to the current developments of the metaverse. How does that impact our industry? Digital assets are evolving, from bankable products to DEFI and NFT’s such as digital art, virtual land, avatars and Metaverse assets or collectibles and more. The next generation of our clients will be invested in the metaverse – hence, not only do we need to know and understand it, but we also need to know how to handle and advise around it.

?? Dialogue with Alena Nikolai, Mario Frick, Christophe Wille and Philippe A. Naegeli:

So which capabilities does the future banker has to bring to the table – what will be the role? He/she will much more be a navigator in an ever-changing digital environment. The convergence of fintechs and banks is eminent to the pivotal change in today’s banking industry. Banks will highly profit from the creativity of fintechs by closely cooperating and integrating them alongside. Partnering and developing into ecosystems is the future key to success for the financial centre of Switzerland; always with the shared purpose of “customer centricity” in mind.

?? Manuel Kunzelman, Migros Bank:

“… no one is interested in Open Banking …”

.. “the topic is too technical.” Nevertheless, the topic is gaining more and more on importance: only with the willingness to address customer needs in a more open and flexible manner, by collaborating with partners, will we be able to offer improved banking services."

?? Oswald Grübel:

“.. continues to be fascinated by the financial markets.”

The significance of the current market situation will sharpen and the times ahead of us look rather gloomy, with substantial downturn in stock markets of up to 25%. In his understanding, the European and especially the German environment has challenging times ahead with eventual spillover effects to Switzerland.

Overall, a very insightful conference and networking platform! Thank you Sandro Schmid and team for organizing and hosting – and Reto Lipp, Business Journalist Swiss TV, for professionally moderating the sessions.

Sandro Schmid , Reto Lipp , Klaus Wellershoff , Thorsten Hens , Filippo Rima , Dr. Daniel Diemers , Alena Nicolai Gwerder , Mario Frick , Philippe A. Naegeli , Christoph Wille , Manuel Kunzelmann , Oswald Grübel, Anders Bally, PhD , Renato Santi , Schuyler Weiss , Rudolf Reinhard Mueller , Simone C. Drill

#economicimpact #openbanking #ecosystems #assetmanagement #alternativeassets #digitalassets #bankerscom