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Migros Bank is now ahead in digitalization. The Migros subsidiary has replaced the large UBS as the most digital bank in Switzerland. This is illustrated by a ranking created by the Lucerne University of Applied Sciences and Arts (HSLU). VZ Depotbank ranked first, ahead of Credit Suisse and Luzerner Kantonalbank.
Researchers have identified 103 functions that a modern bank should offer today. For example, opening an account digitally. Or scheduling a counseling appointment or blocking a credit card. Migros Bank offers 74 of these digital functions. Two more than UBS. Zuger Kantonalbank, which is in 15th place, has only 41.75 points. The worst bank can only have 16 functions. But his name is not mentioned. Experts examined 41 banks.
“Migros Bank is trying a lot”
“I was also surprised that Migros Bank is a medium-sized bank,” Andreas Dietrich (46), author of the study, tells Blick. UBS definitely has more funds to advance digitization. “But Migros Bank develops a lot, tries a lot. It then allows customers to decide whether the offers are suitable for them. This is Migros Bank’s strategy.” And it seems to have worked.
| Degree (previous year) | Bank | Goal |
| 1. (4) | migros bank | 74.00 |
| 2. (1) | UBS Switzerland | 72.00 |
| 3. (8) | VZ storage bank | 65.75 |
| 4. (2) | Credit Suisse Switzerland | 62.25 |
| 5. (6) | Lucerne Cantonal Bank | 61.00 |
| 6. (7) | Banque Cantonale Vaudoise | 60.50 |
| 7. (3) | Raiffeisen Group | 58.75 |
| 8. (9) | Zürcher Kantonalbank | 57.75 |
| 9. (5) | Postfinance | 55.75 |
| 10. (13) | Basel-Landschaftische Kantonalbank | 51.50 |
| 11. (12) | Thurgau Cantonal Bank | 51.25 |
| 12. (10) | Mortgage Bank Lenzburg | 48.75 |
| 13. (16) | valiant bank | 45.00 |
| 14. (-) | Banque Cantonale de Geneve | 44.25 |
| 15. (15) | Zug Cantonal Bank | 41.75 |
But very few banks are able to fulfill their customers’ greatest desire: they want to be able to change their limits themselves. Or block the card. Card limits can only be set online in ten percent of banks. After all, the PIN of a bank card can be changed manually at any financial institution.
In principle, we can see that larger banks – measured in terms of total assets – offer a wider range of digital products for their private customers. In terms of e-banking, UBS, VZ Depotbank and Raiffeisen Group came out on top. Migros Bank is ahead when it comes to digital investment and old age provision. Banque Cantonale Vaudoise, VZ Depotbank and ZKB are in second place.
Source :Blick
I’m Tim David and I work as an author for 24 Instant News, covering the Market section. With a Bachelor’s Degree in Journalism, my mission is to provide accurate, timely and insightful news coverage that helps our readers stay informed about the latest trends in the market. My writing style is focused on making complex economic topics easy to understand for everyone.
