The new service is designed to enable its clients to conduct all of their banking business by smartphone

Credit Suisse

Credit Suisse to launch new banking service app next month. (CREDIT SUISSE GROUP AG.)

Swiss banking giant Credit Suisse is all set to launch CSX, a new app-based digital banking offering, starting from next month.

With CSX, Credit Suisse offers its customers an opportunity to choose how they conduct their banking and interact with the bank digitally, by phone or in person at a branch.

Starting from next month, Credit Suisse will offer CSX and CSX Young, two variants of the digital banking offering for its customers to conduct all of their banking transactions through a smartphone.

The new service will offer a private account in CHF, a debit card from Mastercard for online transactions with no transactions fee on foreign exchanges and an app with several self-service functions.

The Swiss bank also claims that on the new banking platform CSX, onboarding can also be done easily and quickly.

Credit Suisse is offering the CSX services for free of charge

The digital banking services will be offered for free of charge and for those customers who frequently withdraw cash can opt for a physical debit card for a charge of CHF3.95 ($4.34) per month.

Credit Suisse (Switzerland) digital banking head Anke Bridge Haux said: “CSX combines Credit Suisse offering and quality in an app. CSX is intended for all private clients in Switzerland who want to complete their banking business swiftly and easily and who value digital, professional financial advice.

“Of course, we are still available to serve our clients in person. CSX clients can decide for themselves how they want to interact with us, depending on their individual needs.”

After its launch, in the coming few months, the bank plans to introduce new features related to investments, pensions and mortgages.

With a digital financial planner, customers can gain an overview of their financial situation and identify the gaps that need to be covered.

A fully digital investment solution is expected to be introduced in November. The new features will allow mortgage clients to obtain new financing directly in the app, and can avail extensions of existing mortgage tranches.

The bank also plans to introduce a new branch concept centered around personal advice in Switzerland.

Recently, Reuters reported that Credit Suisse is planning to establish a new investment bank hub in Spain, following the exit from the UK from the European Union.