Business · Companies · 8 hrs ago
Most Swiss retail banks expect to keep their current core banking systems
About two-thirds of Swiss banks in a 2026 survey expect to still use their current core banking system in ten years.
That is roughly twice the share recorded in a 2022 survey, when about 68% expected they might switch by 2032.
Banks had criticized existing systems for high costs, older technology and slow development.
The study says established providers, including Avaloq and Finnova, have made progress, while potential foreign alternatives have struggled to adapt to Swiss rules and business needs.
The authors caution that banks' renewed confidence in existing providers may not last.
Generative artificial intelligence could make it faster and cheaper to update or build core banking software, potentially giving banks and new competitors more options.
The study is due to be presented in Zurich on 27 October and made public the following day.
Around two-thirds of participating Swiss retail banks expect to still use their current core banking system in ten years.
That share is about twice the level recorded in a 2022 survey.
The findings come from a 2026 study by the Institute of Financial Services Zug at Lucerne University of Applied Sciences and Arts.
The study says established providers have made progress, while potential alternatives have struggled to enter the Swiss market.
Its authors warn that generative artificial intelligence could change the market by making systems easier to develop or modernise.
- Who
- Participating Swiss retail banks.
- What
- Around two-thirds expect to keep their current core banking system for ten years.
- When
- In the 2026 survey; the study was published on 27 October and made publicly available from 28 October.
- Where
- Switzerland.
- Why
- Established providers have made progress, while alternatives have faced difficulties adapting to Swiss requirements.
This story does not have two clearly opposing sides.
No direct quotes in the coverage so far.
Around 68% of surveyed banks expected they might change their core banking system by 2032.
Around two-thirds of participating banks expected to still use their current system in ten years.
The study was due to be presented in Zurich.
The study was due to become publicly available.
- Banks expecting to keep current system
- Around two-thirds
- Change in share since 2022
- Approximately doubled
- Banks in 2022 expecting a change by 2032
- Around 68%
- Established providers named
- Avaloq and Finnova
- Study
- Kernbankensysteme 2026
Sources
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