Coop gets out of Coop Finance+

Baptiste Wicht

Baptiste Wicht

The Poor Swiss
Staff member
Hi,

Coop just announced they will get out of the Coop Finance+ project:


Apparently, there is too much competition. I am not too surprised because there are indeed many offers and this one was not particularly special.

I will update my review in the coming days:

thepoorswiss.com

Coop Finance+ Review 2024 - Pros & Cons - The Poor Swiss

Coop is back in the banking market with Coop Finance+, a new banking package. We review this product to see whether it is good!
thepoorswiss.com thepoorswiss.com

Coop said they would keep the service running until further notice. We can probably expect the service to be then closed because it makes little sense without Coop in the project.

Is anybody impacted?
 
There is indeed too much competition right now in the Neo-banking world. I assume in 5 years time only Yuh and Neon will remain, I don't see Yapeal or Radicant surviving long term. CSX's future isn't clear as of now, and Zak doesn't really have anything going on for it.

Even Neon could be hurt if Revolut eventually gets a Swiss banking license. Yuh seems a bit stronger as they have plans to expand outside of Switzerland.
 
I also think that in a few years, several of the current offers will not be here anymore, there are simply too many of them. But there will still be new offers by then because it's a market that can make money.

We can expect CSX to slowly be transferred to one of UBS accounts indeed, but it's not clear at what conditions :(
 
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