Raiffeisen Chairman Guy Lachappelle has presented his vision for the cooperative banking group. He mainly wants to achieve a big digital step forward and create an eco-system.

The eco-system concept has arrived at the doorstep of Raiffeisen Switzerland, the country’s third-largest banking group. Chairman Guy Lachappelle over the weekend presented «Raiffeisen 2025», his vision for the bank. He wants to invest some 550 million Swiss francs, which he hopes will generate extra revenues of some 500 million a year starting in 2025.

Raiffeisen has to change. The core business – selling mortgages – is crumbling as interest margins are being squeezed. Wealth management is not a strong business at the bank, and clients don’t perceive it to be either.

All-Inclusive Offering

The bank now aims to become a provider of solutions. Which means that it will expand its digital services and offer solutions of its cooperation partners, for instance in the insurance business.

In everything concerning residential living the bank wants to promote an all-inclusive service. This won’t distinguish the bank from others, but with its 3.5 million clients, the bank has a sound foundation to work with. In the investment and pension provision business, Raiffeisen aims to make available service for customers with small- and medium-sized pockets.

No Job Cuts Foreseen

Raiffeisen last week cancelled the cooperation agreement with Helvetia, the Swiss insurer. The company had also started expanding in the residential living business, having taking over mortgage-brokerage Moneypark.

Lachappelle said that he soon will announce the replacement for Helvetia and that in the autumn he will announce a cooperation- and stake-holder strategy. Raiffeisen is about to build its own eco-system for financial services. Lachappelle doesn’t intend to cut jobs as the bank achieves efficiency gains.