Credit Suisse to Challenge Neobanks
Credit Suisse has entered the challenger banking race with its plans to launch CSX and CSX Young, a digital banking offering at the end of October 2020.
CSX claims to combine the flexibility and cost effectiveness of a digital bank with a range of services and expertise offered by Credit Suisse as an established full-service bank with Swiss roots.
CSX will only be available in its native Switzerland to people over the age of 26 and will allow users to open a bank account and order a Mastercard-backed debit card all from the app.
The new banking offering includes a private account in CHF, a Debit Mastercard for online use that waives foreign transaction fees, and an app with various self-service functions. Even the onboarding process can supposedly be completed swiftly and easily right from the app.