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| Type | Bachelor's Thesis |
| Scope | Discipline-based scholarship |
| Title | Online Banking on the Rise: How Covid-19 is accelerating change in the Swiss Banking Industry, using the example of Swissquote |
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| Institution | University of Zurich |
| Faculty | Faculty of Business, Economics and Informatics |
| Date | 2021 |
| Abstract Text | The goal of this thesis is to answer how adoption rates in online banking in Switzerland have been impacted by the covid-19 crisis and the related government restriction measures. To give more context to this question I first review the existing literature concerning how the banking industry has been digitalized over the last few decades and what the historical impact of several crises, like the dotcom bubble or the financial crisis in 2007/2008, has been on the banking industry. I then analyze how the Swiss online banking industry has been impacted in the most recent covid-19 crisis by looking at daily app download data of various Swiss banks, most importantly Swissquote, serving as an example for a modern digitalized bank, in contrast to long-established banks like UBS or Raiffeisen. I analyze the data by conducting simple linear regressions for the respective bank’s app. I find that Swissquote has seen significant growth in daily app download numbers in relation to the restriction measures taken by the Swiss government, in contrast to UBS. Other banks like Raiffeisen, Migros Bank, or ZGKB have seen significant growth, but at a much lower level than Swissquote. These results indicate that banks which have historically focused more strongly on digitalization have seen more growth in app downloads in connection with the covid-19 crisis compared to their peers. |
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