Tag: Swiss

FlowBank Selects Temenos SaaS to Rapidly Launch Swiss Digital Bank and Reinvent Online Investor Experience

GENEVA–(BUSINESS WIRE)–Oct 12, 2020–

Temenos (SIX: TEMN), the banking software company, today announced that FlowBank has selected Temenos Transact delivered as SaaS to power its new digital bank in Switzerland. Temenos Transact core banking technology will enable FlowBank to rapidly launch and offer a new investing experience to private and institutional investors in Switzerland and internationally.

FlowBank has recently secured its banking license in July 2020 and is planning to launch the operations by the end of 2020. The bank aims to meet the needs of both sophisticated and new investors, who wish to manage their banking and investments on their own. The bank addresses this growing market segment by offering a simple, reliable investment experience open to all, using an optimized trading platform underpinned by Temenos Transact. The bank is FINMA-regulated and deposits are guaranteed up to CHF 100,000.

With Temenos SaaS, FlowBank will create a hyper-efficient cost model

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Swiss Central Bank Faces Crunch Talks on Work Culture Crisis

(Bloomberg) — Thomas Jordan’s biggest personnel crisis since the Swiss National Bank president took the helm eight years ago is about to come to a head.

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The central-bank chief has already been forced to defend his institution publicly over media reports claiming the work culture under his leadership discriminates against women. Now lawmakers are scrutinizing the matter, and Jordan is due to meet with his supervisory board — the Bank Council — on Monday to discuss the merit of the allegations.

“The SNB cannot afford such a blow to its reputation,” Susanne Vincenz-Stauffacher, a lawmaker for the pro-business Free Democrats, said in an interview. “It’s a wake-up call for the SNB’s Bank Council.”

A spokeswoman for the central bank declined to comment on the upcoming meeting.

The storm brewing behind the austere neo-Renaissance facade of the SNB’s 1920s-era headquarters in Zurich is an embarrassing distraction for one of

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Swiss government opposes responsible business initiative campaign

ZURICH, Oct 6 (Reuters) – Switzerland’s government urged voters on Tuesday to reject a plan to hold Swiss-based companies responsible by law for human rights and environmental abuses abroad, saying the campaign by activists went too far.

Proponents of the “responsible business initiative” want Swiss companies to apply mandatory due diligence to identify risks to people and the environment in all their business, even involving suppliers abroad, and let victims seek redress in Switzerland.

The public will vote on the initiative in a referendum on Nov. 29 under the country’s system of direct democracy.

Switzerland is home to a number of multinationals, from Nestle to commodities trading house Glencore. Many businesses reject the proposed changes saying they would lead to a flood of legal cases.

“The government too wants better protection of human rights and the environment. But for the government, this initiative is the wrong path,” the justice ministry

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Swiss voters dismiss proposal to stop free movement of people from EU

Swiss voters overwhelmingly rejected on Sunday a right-wing party’s attempt to scrap a pact allowing the free movement of people from the European Union, opting for stability amid the economic uncertainty caused by the coronavirus pandemic.

The Swiss People’s Party (SVP) had forced a referendum on the EU agreement in a bid to curb immigration to the country where foreigners make up a quarter of the population.

The measure lost, as expected, by a 62%-38% margin. “The bilateral path is the right one for Switzerland and for the EU. The Swiss people have confirmed this path again today,” justice minister Karin Keller-Sutter told reporters in Bern.

“Today is a great day for the relations between the European Union and Switzerland,” European Council President Charles Michel tweeted. “The Swiss people have spoken & sent a clear message: together we have a great future ahead of us.”

The SVP – the biggest

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Swiss reject nationalist plan to limit jobs for EU citizens

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Laura Zimmermann, Co-President of Operation Libero, centre, together with Valentin Vogt, President of the Swiss Employers’ Federation, Renato Perlini, campaign manager of Operation Libero, and Stefan Manser-Egli, Co-President of Operation Libero, from left, are pleased with the result of the vote at the meeting of opponents of the popular initiative “For moderate immigration” (restrictive initiative), on Sunday 27 September 2020 at the Hotel Schweizerhof in Bern, Switzerland.

AP

Voters in Switzerland on Sunday strongly rejected a nationalist party’s proposal to limit the number of European Union citizens allowed to live and work in their country.

Swiss public broadcaster SRF reported, based on a partial count, that the measure was rejected by 61.3% of voters, with 38.7% in favor. A large majority of the country’s 26 cantons, or states, also rejected the plan proposed by the Swiss People’s Party to give preferential access to jobs, social protection and

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