Leading Swiss online trading firm Swissquote and Luzerner Kantonalbank AG (LUKB) are expanding their cooperation. From January 1, 2022, LUKB will be Swissquote’s exclusive partner for mortgages.
The two banks will jointly offer Swissquote’s clients attractive terms for online mortgages for home financing and mortgage redemption. Swissquote and LUKB are aiming to provide binding financing offers within 24 hours, thanks to a standardised product structure and a predominantly automated process.
Swissquote’s CEO Mark Burki comments:
“We are delighted to have found, in Luzerner Kantonalbank, a partner with a proven track record in the mortgage business. We are confident that LUKB will prove to be a solid and agile partner that will enable our clients to benefit from nationwide reach and from an up-to-date product portfolio.”
Daniel Salzmann, CEO of LUKB, adds:
“The distribution partnership with Swissquote, which has made a name for itself as an online bank, means we can leverage our own bank’s mortgage expertise, both digitally and by extending its catchment area. In doing so, we are creating the basis for continued growth and greater efficiency in one of our core fields”.
Swissquote and LUKB have been co-operating in the area of distribution of actively managed certificates (AMCs) since May 2021. To date, three AMCs issued by LUKB have been offered via Swissquote. They can be traded through Themes Trading and the digital financial app Yuh.
Swissquote and LUKB plan to examine further options for strategic cooperation in the mid-term.