Credit Suisse Plans Digital Banking Platform Launch
(14 September 2020 – Europe) Credit Suisse have announced plans to launch their digital banking platform in October this year. This platform will challenge incumbent financial technology companies like Revolut by offering free foreign transactions and fully digital wealth management.
This strategic move will claw back some of the market share losses occurred over recent years. In the long run, Credit Suisse plan to roll out other digital solutions to the wider market.
“Traditional banks have accelerated their digital transformation progress and this implementation means that financial technology companies can choose to be either competitors or partners” commented East & Partners Europe Market Analyst, Pierre Sokoya.