The Swiss Financial Services sector is rapidly embracing artificial intelligence (AI), as revealed by a recent survey conducted by the Swiss Financial Market Supervisory Authority (FINMA). The survey, carried out between November 2024 and January 2025, highlights the widespread adoption of AI, with nearly 50% of institutions already utilizing AI technologies and another 25% planning to do so within three years.
Generative AI (GenAI) has emerged as a dominant force, with 91% of AI-enabled institutions leveraging it for applications ranging from chatbots to risk management. At Unique, we have been able to work with many Swiss Financial Services clients on their GenAI journey over the last years and we can confirm the results from our experiences so far.
AI in Swiss Finance: A New Era
The Swiss financial sector is at the forefront of a technological revolution. FINMA’s recent survey offers a compelling glimpse into how AI is reshaping the industry (read the press release here). Nearly half of the 400 institutions surveyed are already using AI, with another quarter planning to adopt it soon. This rapid uptake underscores the sector’s recognition of AI as a transformative tool, capable of driving efficiency, enhancing customer experiences, and improving decision-making.
Among the institutions leveraging AI, generative AI technologies stand out as a dominant force. A staggering 91% of these organizations are using generative AI, with applications ranging from advanced chatbots to sophisticated underwriting tools. The versatility of AI is evident in its deployment across diverse areas such as credit lending, treasury operations, compliance, and financial risk management. Larger institutions are leading the charge, showcasing a broader array of AI applications compared to their smaller counterparts.
Number of applications across all respondents. Of the 187 authorized institutions using AI, 75 insurance companies and insurance intermediaries fall into the “Insurance” category, 100 banks and securities firms into the “Banks” category and 12 fund management companies, managers of collective assets and financial market infrastructures into the “Other institutions” category.
Source: FINMA.
Governance and Risk: The Balancing Act
But with great innovation comes great responsibility. The survey highlights that while many institutions are eager to harness AI’s potential, they are equally aware of the challenges it brings. Governance and risk management have emerged as critical focal points. Half of the surveyed institutions have already integrated AI into their strategic frameworks, addressing key concerns like data protection, cybersecurity, and enterprise risk management. Yet, risks persist. Issues such as data quality, the explainability of AI models, and the growing reliance on external service providers are top of mind for industry leaders.
FINMA, for its part, remains steadfast in its commitment to a technology-neutral supervisory approach. Guided by the principle of “same business, same risks, same rules,” the regulator aims to ensure that innovation does not come at the expense of compliance or security. The insights from this survey will play a pivotal role in shaping FINMA’s risk-based supervisory strategies, aligning with its broader goals for 2025-2028.
Looking Ahead: A Collaborative Future
As the financial sector looks to the future, one thing is clear: AI is not just a tool; it’s a transformative force. Institutions are not only adopting AI but are also learning to navigate its complexities, balancing innovation with robust governance. FINMA’s survey serves as both a mirror and a guide, reflecting the sector’s progress while pointing the way forward. The journey of AI in Swiss finance is just beginning, but its impact is already profound. With careful planning, strategic foresight, and a commitment to ethical practices, the sector is poised to unlock the full potential of AI, shaping a future that is as innovative as it is secure.
Unique’s Role in Shaping the AI Landscape
As the Swiss Financial Sector navigates the complexities of AI adoption, Unique has emerged as a key player in driving innovation while ensuring highest standards of compliance and governance. With its cutting-edge GenAI solutions and a deep understanding of regulatory frameworks, Unique is at the prime position to support financial institutions in their AI journey.
- Alignment with FINMA Guidance: Unique’s AI Governance Framework is fully compliant with FINMA Guidance 08/2024, ensuring that its solutions meet the highest standards of transparency, accountability, and risk management.
- Empowering Institutions: Unique provides tools that enable financial institutions to deploy AI responsibly, from explainable AI models to robust data quality controls. These solutions help institutions address key challenges such as data protection and cybersecurity.
- Thought Leadership: As a pioneer in AI innovation, Unique actively collaborates with regulators, industry leaders, and academic institutions to shape the future of AI in finance. Its contributions to industry discussions and best practices are instrumental in driving progress.
- Client-Centric Approach: Unique’s solutions are designed with clients in mind, offering scalable, secure, and compliant AI technologies that empower institutions to innovate without compromising on governance.
AI Adoption in Swiss Financial Services: Where do we currently stand?
The Swiss Financial Services sector is rapidly embracing artificial intelligence (AI), as revealed by a recent survey conducted by the Swiss Financial Market Supervisory Authority (FINMA). The survey, carried out between November 2024 and January 2025, highlights the widespread adoption of AI, with nearly 50% of institutions already utilizing AI technologies and another 25% planning to do so within three years.
Generative AI (GenAI) has emerged as a dominant force, with 91% of AI-enabled institutions leveraging it for applications ranging from chatbots to risk management. At Unique, we have been able to work with many Swiss Financial Services clients on their GenAI journey over the last years and we can confirm the results from our experiences so far.
AI in Swiss Finance: A New Era
The Swiss financial sector is at the forefront of a technological revolution. FINMA’s recent survey offers a compelling glimpse into how AI is reshaping the industry (read the press release here). Nearly half of the 400 institutions surveyed are already using AI, with another quarter planning to adopt it soon. This rapid uptake underscores the sector’s recognition of AI as a transformative tool, capable of driving efficiency, enhancing customer experiences, and improving decision-making.
Among the institutions leveraging AI, generative AI technologies stand out as a dominant force. A staggering 91% of these organizations are using generative AI, with applications ranging from advanced chatbots to sophisticated underwriting tools. The versatility of AI is evident in its deployment across diverse areas such as credit lending, treasury operations, compliance, and financial risk management. Larger institutions are leading the charge, showcasing a broader array of AI applications compared to their smaller counterparts.
Number of applications across all respondents. Of the 187 authorized institutions using AI, 75 insurance companies and insurance intermediaries fall into the “Insurance” category, 100 banks and securities firms into the “Banks” category and 12 fund management companies, managers of collective assets and financial market infrastructures into the “Other institutions” category.
Source: FINMA.
Governance and Risk: The Balancing Act
But with great innovation comes great responsibility. The survey highlights that while many institutions are eager to harness AI’s potential, they are equally aware of the challenges it brings. Governance and risk management have emerged as critical focal points. Half of the surveyed institutions have already integrated AI into their strategic frameworks, addressing key concerns like data protection, cybersecurity, and enterprise risk management. Yet, risks persist. Issues such as data quality, the explainability of AI models, and the growing reliance on external service providers are top of mind for industry leaders.
FINMA, for its part, remains steadfast in its commitment to a technology-neutral supervisory approach. Guided by the principle of “same business, same risks, same rules,” the regulator aims to ensure that innovation does not come at the expense of compliance or security. The insights from this survey will play a pivotal role in shaping FINMA’s risk-based supervisory strategies, aligning with its broader goals for 2025-2028.
Looking Ahead: A Collaborative Future
As the financial sector looks to the future, one thing is clear: AI is not just a tool; it’s a transformative force. Institutions are not only adopting AI but are also learning to navigate its complexities, balancing innovation with robust governance. FINMA’s survey serves as both a mirror and a guide, reflecting the sector’s progress while pointing the way forward. The journey of AI in Swiss finance is just beginning, but its impact is already profound. With careful planning, strategic foresight, and a commitment to ethical practices, the sector is poised to unlock the full potential of AI, shaping a future that is as innovative as it is secure.
Unique’s Role in Shaping the AI Landscape
As the Swiss Financial Sector navigates the complexities of AI adoption, Unique has emerged as a key player in driving innovation while ensuring highest standards of compliance and governance. With its cutting-edge GenAI solutions and a deep understanding of regulatory frameworks, Unique is at the prime position to support financial institutions in their AI journey.