Innovation is a strategic necessity for any bank. No doubt about that. Given Credit Suisse's position as a leading innovative bank, we are involved in several innovation activities across the globe. In Switzerland the bank is actively engaged with digitalswitzerland, an entity comprised of large Swiss and international companies who all share the common vision to promote Switzerland as a global digital hub. digitalswitzerland drives an 11-week program running from September to November 2017 called "Kickstart Accelerator" that cultivates and nurtures new startup ideas with the help of insightful guidance from large Swiss corporations. Credit Suisse is one of the main program sponsors and as such actively involved in the Fintech vertical.
The startups within Kickstart Accelerator benefit from the Credit Suisse's industry exposure and financial expertise. The bank provides them with a platform to connect with potential clients and investors. The Digital Solutions & Delivery team works closely with the startups in opportunity explorations which ultimately shape the startups either to be ready for the market or to enter into a potential collaboration or partnership.
Credit Suisse on the other hand gets a unique chance to tap numerous innovations and technologies. The bank's ultimate goal is to identify innovative technologies to offer a better banking experience to its clients.
The 10 startups participating this year in the Kickstart Accelerator's Fintech vertical cover a large range of topics of high relevance to Credit Suisse – blockchain/distributed ledger/smart contracts, market data, real-estate tech, etc. to name just a few. During the time when the startups are in the program, Credit Suisse will open up its expert pool to these companies by matching them with select business areas. These business areas will evaluate the technology offerings, provide their market knowledge and guidance. This also presents the bank with the opportunity to identify opportunities to work with these startups in proof-of-concepts.