Financial Innovation at the starting blocks: New platform of the Swiss authorities
06.03.2024
Two years ago, the Swiss government announced in its report on digital finance that it would create an innovation platform for the financial sector. No sooner said than done. The Financial Innovation Desk (FIND), administratively located in the Federal Department of Finance, has been up and running for six months. Since 1 March, FIND head Eva Selamlar and her team have also been fully on board.
FIND's mission is to promote financial innovation in Switzerland and thereby contribute to strengthening the Swiss financial centre. It acts as a central public hub for all matters relating to financial innovation in Switzerland. In this role, it connects innovation projects, research, investors and authorities at national and international level and facilitates the exchange of information between the players. The aim is to position Switzerland internationally as a top FinTech location by bringing together the existing but previously uncoordinated expertise of the various players.
The idea...
FIND was founded in response to the Swiss government’s report on digital finance 2022, in which the Federal Council instructed the Departement of Finance to create an official contact point for innovation in the financial centre. The starting signal was given on 1 September 2023 with the appointment of FIND Head Eva Selamlar. FIND's mandate is initially limited to three years and it is administratively attached to the State Secretariat for International Financial Matters (SIF).
... to the operational unit
In the meantime, Eva Selamlar has recruited her team, opened communication channels, started to raise awareness of FIND in the financial sector and initiated the first activities. The four-member FIND team has been in place since 1 March. It will work hard to network all stakeholders and participate in various events in Switzerland and abroad.
The FIND Team with head Eva Selamlar (second from left).
FIND's first major event will be Swiss Hacks in June 2024, a hackathon in which some 150 specialists will have 48 hours to solve specific problems relating to innovation in the financial sector. FIND is also responsible for organising the Innovation Tours as part of the Point Zero Forum in Zurich at the beginning of July.
FIND is supported by a specially created Innovation Sounding Board made up of experts from inside and outside the world of finance with a proven track record in innovation, such as former NASA research director and current ETH professor Thomas Zurbuchen and Marianne Wildi, fintech pioneer and CEO of Hypothekarbank Lenzburg.
More information: Financial Innovation at the starting blocks: establishment of the FIND Innovation Sounding Board (admin.ch)