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Swiss fintech startups at Web Summit

Out of 56 Swiss startups which are exhibiting at Web Summit in Dublin this week, there are 2 companies which fall into the fintech category: FinanceFox and BITY. That's quite a small number given the tradition and importance of the finance industry in Switzerland. On the other hand it indicates that past achievements might not create advantages for the future of banking, payments, insurances and other financial products and services.
Calling their mobile app "insurance hero", they want to simplify the comparison of insurance products. On top, there are consultants from FinanceFox which offer advice through the app. Overall their objectives and offerings sound familiar to Knip which just closed an impressive $15,7 million funding round. Nevertheless, it's good to see competition and many people describe insurances even more ripe for disruption thank banks.
Their business works around cryptocurrency services which the product wants to make safer and easier. Again, with Bitcoin Suisse there is already a more established provider from Switzerland in this area. But international exposure – with conferences such as Web Summit – can make the difference regarding long-term traction.
The Money Summit on Thursday will allow FinanceFox, BITY and many other fintech startups to challenge their business plans with the ideas and expectations of global industry leaders who will speak on stage.
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