A boost to the digitization of Switzerland

Harmonization
PostFinance and the other banks are harmonizing their credit transfer schemes to streamline complex formats, procedures, and payment slips that have evolved over time. Processes will be automated end to end and aligned on the basis of the international ISO 20022 standard.

Financial services industry initiative
With more than a billion credit transfers a year, payment traffic’s vitally important to Switzerland. The financial services industry initiative supports the digital transformation of the economy and society, assures automated compliance throughout the process, and boosts Swiss business attractiveness.

Payment area
Harmonization will facilitate global trade of goods and services. Switzerland is acting in harmony with its European partners and the trend to globally recognized technology standards. This guarantees straightforward transfer chains and assures security of investment in the long term.

Cooperation
Standardized message types make communication between financial institutions and their clients quicker and more precise. Financial institutions are supporting their corporate clients and working hand in hand with software providers on implementation, which is in full swing.

Readiness
Why change if everything works fine? People are very satisfied with the payment transfer system, but no industry is immune to technological change. They have to adapt. The changeover is under way. For it to be a success, the necessary steps have to be taken in good time.

Advantages
Digitally readable QR codes will significantly reduce the manual work involved and reduce error rates in credit transfers. This will save private individuals and SMEs time and money, and enable companies to optimize their cash management and costs of capital.

Security
The QR code, part of the digital routine in many industries, is also finding its way into the payment transfer system. It is regulated by international standards, secure, easy to use, and with the appropriate app can be scanned by any smartphone. The underlying systems are reliable and secure.

Compliance
After the changeover all the data necessary to assess risks will flow to the recipient’s bank. This will enable full, automated compliance with the anti-money laundering legislation. The international ISO 20022 standard will facilitate efficient adaptation to future requirements.

Digital Switzerland
Harmonization of the payment transfer system will boost the digitization of Switzerland and facilitate the transformation taking place in many areas of business and society. The change is being made responsibly, taking account of all sections of the population and businesses.
News
Facts & figures
QR-bill
Ready for ISO 20022
Blog
The latest developments in the harmonization and standardization of payment traffic in Switzerland.

Boris Brunner__Head of Business Development & Operations, SIX Interbank Clearing AG
Who would have thought?

Bettina Witzmann-Walter__Liechtenstein Bankers Association, Compliance & Payments
ISO 20022 and the QR Bill: an Important Milestone for our neighbor Liechtenstein

Patrick Beer__financial accountant, Wander AG
Why standards are so important for everything from Ovaltine to payment traffic

Alfred Meyenberg__Harmonization of Payment Transactions at PostFinance Programme Leader
The final countdown has begun at PostFinance

Boris Brunner__Head of Business Development & Operations, SIX Interbank Clearing AG
Cleaning the Augean stables: a herculean task for Switzerland?

Markus Beck__Head of Product Management, Corporate Client Payment Solutions, Raiffeisen Switzerland, Member of the Board of Directors of SIX Interbank Clearing AG
Bulletproof Glass Gives Way to Touchscreens: Banks Go Digital

Nicole Walker__Head of Product Management Payment Solutions, PostFinance Ltd, Member of the Swiss Payments Council
Capital works better without paper

David Wiesner__Member of the Board of Directors of SIX Interbank Clearing Ltd, Member of the Executive Committee of RBA Holding Ltd and Entris Banking Ltd
Good reason for clients to be happy: greater competition

Jean-Marc Hensch__CEO of Swico
Pixels versus media breaks

Urs Bieri__co-director of gfs.bern
People don’t like giving up old habits
Video
About us
Driving digital Switzerland together
Activating Digital Switzerland is an information campaign run by PaymentStandards.CH, the Swiss financial industry’s official communications platform for the standardization and harmonization of payment traffic. The changeover to the international ISO 20022 standard will enable more highly automated payment transactions. To implement the infrastructure project the financial industry is working closely with business and the ICT industry. Together they are driving digital transformation and helping give the whole of Switzerland a boost.

Contact
You can reach us at the following address:
PaymentStandards.CH
Hardturmstrasse 201, 8021 Zürich
You’ll find more information for organizations and software providers at
www.paymentstandards.ch