Smartphone banks compete with traditional banks for business

The HSLU ranking of the best retail banks in Switzerland shows: Small banks in p
The HSLU ranking of the best retail banks in Switzerland shows: Small banks in particular show very good values. The banks in the top three places have balance sheet totals of between just CHF 280 and 565 million. To determine the ranking, the HSLU research team analyzed the annual financial statements of 90 institutions .
The HSLU ranking of the best retail banks in Switzerland shows: Small banks in particular show very good values. The banks in the top three places have balance sheet totals of between just CHF 280 and 565 million. To determine the ranking, the HSLU research team analyzed the annual financial statements of 90 institutions . One in ten people in Switzerland already uses a smartphone bank. Although such neo-banks have so far only been used as secondary and third-party banks, they could also challenge the established banks' status as principal bankers in the future. This is the result of a study by the Lucerne University of Applied Sciences and Arts on the Swiss retail banking market. Smartphone banks are mostly young technology companies that initially offer basic services very cheaply and without a branch.
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