Geneva Cantonal Bank: Big Leap Into Tech Future

The cantonal bank of Geneva is sharpening its digital profile, adding tools that will put it in a similar category of technological-savvy institutes as their fellow state institute of Glarus.

Banque Cantonale de Genève (BCGE) isn't one of the technological leaders among the state-owned banks in Switzerland. The colleagues from Glarus or Basel-Landschaft have been quicker to invest in the fintech future, earning praise from tech nerds.

That is now about to change, as BCGE has put in place a program with several separate initiatives, the company said in a statement.



The bank will adapt Twint, the payment app developed by Postfinance. A move that has also been initiated by the banks in Bern, St. Gallen, Grisons and both cantons of Basel.

BCGE on its own will launch Forxchange, an online currency-trading platform. It will use technology developed by Olfa Trade, a Swiss-Russian fintech startup.

Forxchange is expected to go live later this summer.

The institute also plans to introduce a digital safe for customers, where they can safely store electronic documents. The service is planned to be introduced on the online banking platform in the autumn.

Last but not least, BCGE will offer independent wealth managers an online platform to manage their clients accounts and portfolios online and in real time. e-GFI in a later development will allow customers to make online trades.