English in Banking blog

Deloitte's Tax practice strengthens its capabilities for financial services, banking and insurance clients with two new key partners


Deloitte Switzerland is delighted to announce that two new partners, Ilan Rom and Petrit Ismajli, will join its Financial Services Tax team on 1 December. This intake marks the continued strategic expansion of Deloitte`s tax-related services and capabilities for clients across the banking, insurance and investment management sectors.

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Posted on 1/12/2022 | 0 Comments

Insightful Finance - Releasing the potential of data to power decision-supporting insights

Releasing the potential of data to power decision-supporting insights_

In our previous article, we made the case for Finance to take stewardship of enterprise data. The benefits are compelling. Data is the raw material of Finance. Quality assured enterprise datasets managed under the proven stewardship of Finance can be used to generate insights to inform and energise business decision making.

So how does Finance build and operate such a capability? Here we define four pillars that a Finance data strategy should consider, and define the steps needed to realise the benefits across the bank.

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Posted on 29/11/2022

Internal Audit 4.0: Purpose driven, digitally powered

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An unprecedented set of challenges has led to broadened demands on Internal Audit functions. In addition, the pace and scale of innovation in the profession pointed to the need for an update of our vision. Our updated IA 4.0 framework brings three new features to the forefront. By aligning Internal Audit’s outcomes with the organization’s purpose, helping accelerate organizational change and learning, and further embracing digital, we believe Internal Audit can upgrade and maximize its impact and the value it delivers.

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Posted on 22/11/2022 | 0 Comments

The retail payments transformation and how it affects you

The retail payments transformation and how it affects you

Retail payments is undergoing a profound and ground-breaking transformation in Switzerland, which is having a significant impact on consumers, merchants and corporates as well as on banks and payment service providers.

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Posted on 14/11/2022 | 0 Comments

What could the roll-out for instant payments mean for Switzerland? Three evolutions to consider

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The wide-scale rollout of instant payments planned for August 2024 will require financial institutions to upgrade their payments systems, and the market participants may see fundamentals shift. Here we look at three evolutions and their impact on payments in Switzerland.

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Posted on 18/10/2022 | 0 Comments

Join our Financial Services tax webinar on 9 November 2022 at 08:30 to discuss legislative developments, court cases and practice


We would like to invite you to our half yearly webinar where we provide key updates and discuss recent tax developments that are important for the financial services industry on Wednesday 9 November 2022 at 08:30.

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Posted on 14/10/2022 | 0 Comments

Challenger banks: Disrupting the Swiss market

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This blog is the first in a series on the impact of challenger banks on the Swiss market. It provides insights into how challenger banks threaten to disrupt traditional banks, the different types of banks that are entering the market, and the need to adapt the challenger banks’ operating models to grow successfully.

Today, banks are changing rapidly to keep up with their customers, who are demanding better experiences and more sophisticated products and services from their providers. For most people, visiting a bank branch used to be the main way of interacting with their bank. However, more and more people are choosing to interact with their banks digitally rather than through a traditional bank set-up.

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Posted on 19/09/2022 | 0 Comments

Join our External Asset Managers Events - Accelerating M&A in an environment of consolidation and regulatory change

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The External Asset Management (EAM) sector has started to change dramatically. The pressure of regulatory changes, increased costs, organic growth challenges and requirement for adapted investment offerings have accelerated M&A amongst EAMs considerably in the past 12 months, and we expect this trend to continue in the coming months and years.

We are hosting external asset management events (Lugano 28th of September, Geneva 29th of September and Zurich 26th of October) and will highlight key learnings from recently announced M&A transactions, as well as key considerations for market participants to take advantage of current sector dynamics.

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Posted on 6/09/2022 | 0 Comments

New US Tax identification number requirements create unworkable situations for Qualified Intermediaries


The IRS has recently announced a number of changes related to identification requirements impacting Qualified Intermediaries (QIs). This blog is the first of a two-part series and describes how the current design of the Secure Access Account (SAA), and in particular the request to provide a US Tax identification number to validate the QI’s Responsible Officials identity, would impair the QIs’ capabilities to comply with their electronic reporting obligations through FIRE. The second part of this series, covering QI’s new due diligence challenges linked to their non-US account holders’ US Tax identification number requirement for 1446(a) and 1446(f) purposes, will follow in a separate blog.

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Posted on 19/07/2022 | 0 Comments

The Deloitte approach to strategically realign risk management in banks


The operating model of banks is under significant pressure to change. This also affects the risk functions. A survey conducted by Deloitte Switzerland in March 2022 found that risk managers are increasingly concerned with the transformation that is occurring. The four key issues of digitalisation, strategic positioning, governance and 3 LoD organisation are potentially far-reaching strategic topics in the risk area. There is an unmistakable trend towards digitalisation in risk management and corporate governance.

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Posted on 11/07/2022