From Alpine Peaks to Digital Platforms. The Neobank Phenomenon in Switzerland

Abstract

The picturesque landscapes of Switzerland, adorned with its majestic Alpine peaks, often evoke images of traditional banking practices entrenched in centuries-old institutions. In recent years, however, the financial environment of Switzerland has begun to undergo a significant transformation with the rise of neobanks—digital-first financial entities that operate without conventional brick-and-mortar branches. This article investigates the growing phenomenon of neobanks in Switzerland, particularly focused on DUKASCOPY BANK as a prominent example, exploring the motivations behind this digital shift, the benefits and challenges posed, and the implications for the future of the banking industry in Switzerland.