Banking & fintech
A key player in global finance
Geneva is not only a leading international financial center but one of the most competitive in the world. Its know-how is the fruit of a tradition that stretches all the way back to the Middle Ages. At present, over 100 well-known and prestigious banks have established themselves in the city.
As a leader in cross-border wealth management, the Geneva market balances nearly a quarter of the planet's assets under management. This highly strategic sector relies on the local and regional skills of 35,600 expertly qualified employees.
Geneva is also Europe's leading trading market. With a pool of expertise of around 8,000 specialists, the Geneva platform is now essential in the field of multilateral trade finance. Some 400 trading companies, many of which are the most important global players, oversee a sizeable amount (35% to 50%) of world trade in oil, sugar, coffee, cereals, rice and oilseeds.
At the forefront of tomorrow's markets
Together, Geneva's financial role and its commodity trading sector contribute 35 per cent of the GDP of the Canton of Geneva. The added value of this unique combination is realised through a particularly intricate network of countless ancillary services. This concentration ranges from large auditing firms to insurance and reinsurance companies, through networks of lawyers, trustees, marine charterers and shipowners, to consulting firms and specialists in inspection, verification and mediation.
Geneva is also committed to being at the forefront of the finance of tomorrow. This is evidenced by the growing number of leading-edge companies in the region that support both the principles of sustainable development and who are active in new technologies, and with first-rate data security experience.
Furthermore, Geneva benefits from close collaboration between digital innovation actors. The presence of dynamic SMEs, pioneering incubators and promising start-ups contribute hugely to the development of financial technologies (fintech). Geneva talent pool is also helping the development of virtual currencies and blockchain.
Finally, the political and legal stability of the region offers optimal conditions for the development of financial and trading activities. This environment promotes excellent cooperation between banks and global business players. Geneva is ideal for creating successful business relationships, and is a location that is second to none for financial management and commodity trading.
Geneva Fintech Association (GFA) aims not only to promote new technologies in the world of fintech in Switzerland and across the world, but also to train economic players in this still-developing and exciting field.
Created in 1991 by the 80 banks belonging to the Geneva stock exchange, the Geneva Financial Center (GFC) is the umbrella association of the financial sector.