The cantonal bank of Geneva is sharpening its digital profile, adding tools that will put it in a similar category of technological-savvy institutes as their fellow state institute of Glarus.
Banque Cantonale de Genève (BCGE) isn't one of the technological leaders among the state-owned banks in Switzerland. The colleagues from Glarus or Basel-Landschaft have been quicker to invest in the fintech future, earning praise from tech nerds.
That is now about to change, as BCGE has put in place a program with several separate initiatives, the company said in a statement.
- The bank will adapt Twint, the payment app developed by Postfinance. A move that has also been initiated by the banks in Bern, St. Gallen, Grisons and both cantons of Basel.
- BCGE on its own will launch Forxchange, an online currency-trading platform. It will use technology developed by Olfa Trade, a Swiss-Russian fintech startup. Forxchange is expected to go live later this summer.
- The institute also plans to introduce a digital safe for customers, where they can safely store electronic documents. The service is planned to be introduced on the online banking platform in the autumn.
- Last but not least, BCGE will offer independent wealth managers an online platform to manage their clients accounts and portfolios online and in real time. e-GFI in a later development will allow customers to make online trades.
