Navigating tech-enabled transformation of core banking processes | Part 1: Business execution readiness as a foundation for success

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In an environment where change is constant and customer expectations are continually evolving, this blog series provides a valuable compass, guiding change leaders in the Financial Services sector through the intricacies of tech-enabled transformation of core banking processes with a focus on lending as an example.

In this blog, we explore business execution readiness in tech-enabled transformations and consider three common pitfalls that cause delays, setbacks, and ultimately additional costs for banks: (1) the absence of well-defined guidelines within the governance framework, (2) a suboptimal PMO set-up, and (3) failure to sufficiently consider non-IT change management activities.

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Posted on 14/05/2024 | 0 Comments

Swiss taxation of cryptocurrencies – Do withholding tax and stamp duties apply?

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Widespread adoption of cryptocurrencies and the increasing economic importance of digital assets increases the need to understand their respective tax implications. In Switzerland taxation of cryptocurrencies is usually based on existing tax laws. The Federal Tax Administration (FTA) has detailed its practice in a recently updated working paper.

Expanding on our previous blog post, this article provides a more in-depth analysis of withholding tax and stamp duty regulations regarding digital assets in Switzerland.

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Posted on 2/05/2024 | 0 Comments

iBPM solutions – Optimising for the Future: Navigating iBPM Implementations

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Intelligent Business Process Management (iBPM) has become a pivotal enabler of organizational transformation. Gartner assessed that 81% of organizations with iBPM capabilities have experienced noticeable, beneficial shifts in their operational frameworks.

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Posted on 25/04/2024 | 0 Comments

Unlocking Value: Lombard Lending in Modern Banking - Navigating Challenges and Opportunities

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In the past decade, Lombard lending was one of the fastest growing loan products. Deloitte pioneered with a global Lombard lending benchmarking series involving over 40 banks covering USD 450 billion and 22 booking centres, to consolidate current market trends. The ambition to continue this growth was clearly confirmed. Yet, while banks transition the product from niche to mainstream, challenges are being addressed around strategic alignment, operational efficiency as well as digital transformation to cater for the next generations of wealth.

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Posted on 22/04/2024 | 0 Comments

The evolution of wealth management through AI

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New global megatrends – an industry shift
Artificial intelligence is transforming the wealth management industry. AI enables banks to analyse large amounts of data and provide better investment decisions and personalised products and services: a modern, value-added, hybrid banking experience. To stay competitive, banks that manage wealth should integrate AI, prioritising data security, and combine the new technology with their traditional human advisory skills.

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Posted on 8/04/2024 | 0 Comments

The final Basel 3 reforms cross the Swiss finishing line at last

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FINMA has just published the ordinances for the final implementation of Basel 3. This will change the ways banks calculate their capital requirements for credit risk, market risk and operational risks. What will be the impacts on banks?

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Posted on 3/04/2024 | 2 Comments

Official launch of Limited Qualified Investor Funds in Switzerland on March 1, 2024

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With the enactment of the amended Collective Investment Schemes Act and Ordinance on March 1, 2024, the Limited Qualified Investor Fund (L-QIF) is now officially launched in Switzerland. As it does not require FINMA approval, it is an attractive, cost-efficient alternative to the Luxembourg RAIF, for example. The new scheme is restricted to qualified investors and must be managed by a regulated fund manager. However, like other collective investment schemes, it is also subject to the Swiss withholding tax, which makes it a less attractive option for international investors.

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Posted on 4/03/2024

Global Internal Audit Standards: Are you ready for them?

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2024 is the year of strategy and transformation for Internal Audit (IA) functions. The new Global Internal Audit Standards are an excellent opportunity to elevate IA’s value and impact.

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Posted on 14/02/2024 | 0 Comments

EMIR REFIT – the Deadline is approaching: A decade of regulations to enhance derivates market integrity

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Following the 2008 global financial crisis, and the G20 decision, the European Parliament introduced the European Market Infrastructure Regulation (EMIR). Among other things, this mandated that all firms engaged in derivatives contracts in the EEA (European Economic Area) report their transactions with counterparties. The aim was to enhance transparency and identify any systemic risks associated with Over-the-Counter (OTC) derivatives trades in Europe. From the very beginning, the Swiss Financial Market has supported their EU clients, either through branches, subsidiaries or directly, with the fulfilment of these obligations.

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Posted on 5/02/2024

Join our Global Wealth Management webinar on the 15th of February 2024: AI in Wealth Management

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We have been talking about AI in wealth management for years. With Gen AI, it is finally happening. Wealth management firms have started to build their AI capabilities and bring use cases to life.

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Posted on 2/02/2024 | 0 Comments

Hot Topics from Deloitte’s European Financial Services TP Conference

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During the European Financial Services Transfer Pricing conference,  hosted by Deloitte in Zurich on 18 January 2024, industry leaders, tax administrations and our global tax experts discussed the latest trends and developments. There are growing challenges for tax practitioners as a global patchwork of ever more complex rules develops. Tax law has not yet caught up with remote working – including cross-border. TP is and will remain a major topic, and with additional complexities in financial services.

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Posted on 30/01/2024 | 0 Comments

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