Dutch fintech company Virtual Affairs has had a successful start in Switzerland: research by finews.ch revealed that Virtual Affairs gained Raiffeisen and Cembra Money Bank as customers.

After opening an office in Horgen on the shores of the Lake Zurich under the guidance of Myrthe van der Erve (pictured) and with a host of new employees, Virtual Affairs now aims to acquire further banks and insurers as customers, a company spokesman told finews.ch.

Virtual Affairs is a Dutch software and services company with its headquarters in Amsterdam. In business since 1997, the Dutch specializes in transforming digital channels for banks and insurance companies. The company has 150 employees and a branch in Sofia, the capital of Bulgaria, since 2000.

Quick to Adapt

«The Swiss financial market stands out by its readiness to quickly and pragmatically adapt solutions and knowledge developed abroad,» Myrthe van der Erve told finews.ch.

Being in charge of the Swiss daughter company, she says: «Switzerland is an ideal market for us to expand due to the large number of players in the retail- and private-banking sector.»

Virtual Affairs already develops concepts and solutions for Cembra and Raiffeisen Switzerland. At Raiffeisen for instance the Dutch are charged with the development of online functions in the cross-channel-customer procedures. Cembra has given the company a mandate to help with Web design and development.

Digital Channels on the Increase

After her first experiences with Swiss companies, van der Erve concludes: «Not all systems used by Swiss banks are modern. The physical cashier desk is still very important in customer services.»

However, demand for better digital channels for banks and customers is increasing rapidly: «It is great to see that banks are looking out for the best solutions.»

In the Netherlands, Virtual Affairs counts Rabobank, Nationale-Nederlanden, ING, Crédit Agricole Consumer Finance, ABN Amro, Unirobe Meeùs Groep and Achmea as its customers.

Robin Peters 500

Robin Peters (pictured above), chief executive of Virtual Affairs, said Tuesday: «The digitalization in the advisory process is further developed in the Netherlands than in Switzerland. Thanks to our experience in our home market, we can offer the Swiss financial industry an additional benefit.»