The mobile banking market continues to expand in Switzerland, with the upcoming arrival of Yuh. This 100% mobile bank is the result of a partnership between PostFinance and Swissquote, which was announced several months ago. Indeed, the two companies announced last November that they wanted to form a joint venture and launch a joint digital banking application.
The Yuh digital app will be presented to the public on 11 May and its launch date will probably be disclosed at that time. According to the two financial services providers PostFinance and Swissquote, the jointly developed mobile banking app includes features "that no other banking app in Switzerland offers to date". But what are these features? For the time being, none of these features have been revealed.
However, the statements made by the two companies' directors give some clues as to the technological advantages.
Hansruedi Köng, CEO of PostFinance, makes no bones about his competitors:
With the growing arrival of neo-banks on our territory, the competition looks set to be tough. Alongside the historical players such as Zak or Neon, other companies want to try their luck, such as Yapeal and especially Credit Suisse, which entered the battle at the beginning of the year.