FinTech Matures as AI and Infrastructure Drive the Next Growth Phase

The fintech sector in Switzerland and Liechtenstein is undergoing a period of structural change. While the number of companies continues to grow, the focus is increasingly shifting from pure expansion to specialization, technological advancement, and sustainable business models. This shift is particularly evident in the use of artificial intelligence (AI), which now plays a central role within the fintech ecosystem.

This is the conclusion of the latest fintech study by the Lucerne University of Applied Sciences and Arts, which analyzes the development of the Swiss fintech sector for the eleventh time. The study shows that the industry continues to grow despite a more challenging market environment and is simultaneously setting new technological priorities.

Between growth and consolidation

At the end of 2025, a total of 529 fintech companies were active in Switzerland and Liechtenstein. This represents a growth of four percent compared to the previous year. Since 2015, the number of companies has more than tripled – with the exception of a slight decline in 2021.

At the same time, the market dynamics have changed. While high growth rates prevailed in the early years of the fitnech boom, annual increases are now more moderate. Company formations, mergers, liquidations, and strategic realignments are largely balanced. This suggests that the market has reached a new stage of maturity.

Instead of focusing on rapid growth at any cost, many providers today are concentrating on sharpening their positioning, optimizing their technologies, and developing sustainable business models. Consolidation and specialization are therefore becoming increasingly important.

Regionally, fintech activity remains highly concentrated. Zurich maintains its position as the industry’s most important location, followed by the canton of Zug. Both regions benefit from their high density of financial institutions, technology companies, and investors.

Fintech: AI is replacing traditional technologies as a growth engine

The change is particularly visible at the technological level. For the first time, data analytics, big data, and artificial intelligence constitute the largest technology class within the fintech sector.

The increasing importance of AI is not solely attributable to newly founded companies. Established fintech companies have also increasingly focused their strategic efforts on data-driven applications and AI solutions in recent years. This development reflects the growing use of automated decision-making processes, intelligent data analytics, and generative AI in financial services.

This opens up diverse application possibilities for banks. AI can, for example, improve fraud detection, support credit decisions, automate customer interactions, or increase the efficiency of regulatory processes. At the same time, new business models based on data-driven services are emerging.

Despite the strong focus on AI, distributed ledger technology remains a relevant driver of innovation, particularly in the area of ​​financial market infrastructure. Blockchain-based applications play a crucial role especially where transparency, traceability, and digital assets are paramount.

Infrastructure is becoming the most important business area

Significant shifts are also evident in business models. For the first time, the infrastructure segment has become the largest product area, overtaking investment management.

This development illustrates that many fintech companies today are less likely to act as direct competitors to traditional banks. Instead, they are increasingly positioning themselves as technology partners, providing financial institutions with modern infrastructure, platforms, and digital tools. Banking

This trend reflects the growing demand for high-performance technological foundations. Banks and savings banks face the challenge of modernizing their systems, efficiently implementing regulatory requirements, and simultaneously offering new digital services. Fintech companies often provide the necessary technological building blocks for this.

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(Featured image by Henrique Ferreira via Unsplash)

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First published in Der Bank Blog. A third-party contributor translated and adapted the article from the original. In case of discrepancy, the original will prevail.

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