Financial Services · Payments
Reshaping Swiss Payments
EuroSIC, LSV+/BDD, ISO 20022, PSD3/PSR and FINMA resilience: one transformation, one clear path forward.
01 Abstract
One transformation, one clear path forward
Switzerland's payment landscape is being redefined. Between 2026 and 2028, euroSIC and LSV+/BDD give way to new infrastructures, ISO 20022 redefines the standard for payment data, and frameworks such as PSD3/PSR and FINMA Circular 2023/1 raise the bar on controls and operational resilience.
For Swiss banks, this is more than a regulatory adjustment: it's an opportunity to rethink the payments infrastructure with a strategic vision, turning a mandatory investment into a lasting competitive advantage in efficiency, data quality, and client trust. At the heart of this transformation lies a common thread: the quality and structure of payment data. Banks that build this capability today will see it multiply tomorrow, across every front - from fraud controls to reporting, from compliance to the client experience.
It means choosing the right new channel for euro payments with clarity, rethinking the recurring collection experience for corporate clients, and building a data governance model that speaks the same language as the Regulator. The decisions made today on architecture and data will define the bank's service level, operational agility, and regulatory strength for the next decade.
FORFIRM guides banks through this journey with an end-to-end approach that combines regulatory expertise, data governance, and IT architecture, turning regulatory complexity into a clear, measurable roadmap, ready for the future of payments in Switzerland.
02 Regulatory Scope 2026-2028
Regulatory scope 2026-2028
| Mandate | Deadline | What changes | Impacts on the bank |
|---|---|---|---|
| euroSIC Discontinuation | 31.12.2027 |
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| LSV+/BDD Discontinuation | 30.09.2028 (EUR: 31.08.2027) |
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| PSD3/PSR | Estimated application 2027-2028* |
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| FINMA 2023/1 | Transition period closed since January 2026 |
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euroSIC Discontinuation
31.12.2027
- Direct SEPA participation
- Correspondent Bank
- Specialized Provider
- Core banking reconfiguration
- Strategic choice of EUR channel
- Liquidity management
LSV+/BDD Discontinuation
30.09.2028 (EUR: 31.08.2027)
- eBill Direct Debit
- Proprietary solution
- QR-bill
- Conversion of the corporate biller mandate portfolio
PSD3/PSR
Estimated application 2027-2028*
- Stricter fraud liability for the bank
- Beneficiary data readiness, managing exposure to SEPA/EUR counterparties
FINMA 2023/1
Transition period closed since January 2026
- Critical functions
- Board-approved tolerances
- Tested evidence
- Audit-ready documentation and testing
- Mapping of critical payment functions
* Compromise text published; not yet in the EU Official Journal.
Levers of Governed Transformation
Structured Data as an asset
The investment in data quality for ISO 20022 is reused for Verification of Payee and FINMA resilience.
A Coherent Channel Choice
euroSIC and LSV+/BDD decided together, not in separate silos, to avoid architectural inconsistencies.
A Single Programme Roadmap
The milestones of every deadline planned on one shared calendar, with no last-minute rush.
Governance Ready for Audit
Documentation and testing built once, reusable for both FINMA and the board.
03 The FORFIRM Service
End-to-end accountability
Readiness Assessment & Roadmap
Operational gap analysis paired with an actionable, risk-mitigated implementation roadmap to navigate the transition smoothly.
Strategy & Design
EUR channel selection, target operating model definition, and a comparative business case on migration paths.
End-to-End (E2E) Accountability
A turnkey solution architecture combining strategic process advisory with technical execution, ensuring full accountability from building to ongoing operations.
Governance & Resilience
FINMA evidence documentation, continuous regulatory monitoring, board reporting, and post go-live stabilization.
04 Why FORFIRM
The Swiss payments transformation partner
Swiss Boutique SME Presence
The only Swiss consulting firm combining deep Payment and Regulatory subject matter expertise. Dedicated offices in Lugano and Zurich to support the local financial ecosystem.
Strategic & Operational Partner
We bridge the gap between strategy and execution. We provide full support for ongoing back-office operations.
Proven Track Record
Our team consists of professionals with a proven track record in payments and Swiss market infrastructure (SIX), ensuring a seamless transition.
Proximity
Assessment activities conducted under Swiss confidentiality standards with local presence and multilingual support.