Draft:Credit Exchange AG
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| CredEx | |
| Type | Aktiengesellschaft |
| Industry | Financial technology |
| Founded | 6 March 2018 in Zurich, Switzerland |
| Headquarters | Zurich , Switzerland |
| Key people | Serkan Mirza (CEO) |
| Products | Digital mortgage marketplace |
| AUM | CHF 5 billion (mortgage volume arranged; 12,000+ transactions)[1] |
| Owners | Bank Avera, Glarner Kantonalbank, Mobiliar, PostFinance, Swisscom, Thurgauer Kantonalbank, Vaudoise |
| Website | www |
| Footnotes "AUM" reflects mortgage volume arranged through the platform since launch, as reported by the company, not managed assets in the traditional sense. | |
Credit Exchange AG, trading as CredEx, is a Swiss financial technology company based in Zurich. It operates a business-to-business digital marketplace on which mortgage distributors-banks, insurers and brokers-are matched with institutional investors such as pension funds, investment foundations and life insurers, which fund the loans and carry their credit risk.[1][2] The company is jointly owned by a group of Swiss financial institutions and does not lend on its own balance sheet.[1]
History
[edit]Credit Exchange AG was entered in the Swiss commercial register on 6 March 2018 with its registered office in Zurich.[3] The venture was presented publicly on 25 October 2018 at the Swiss Digital Day in Zurich by its founding partners Swisscom, the insurers Mobiliar and Vaudoise, and Clientis Zürcher Regionalbank, with EY as a strategic partner.[4][5][6] Hanspeter Ackermann, previously chief executive of Bank Cler and before that some three decades at Credit Suisse, was announced as chief executive; loan servicing was to be carried out by Glarner Kantonalbank.[7] The offering was initially focused on fixed-rate mortgages.[6]
The platform went into operation in 2019.[2] In a January 2022 analysis, Andreas Dietrich of the Lucerne University of Applied Sciences and Arts Institute of Financial Services Zug reported that mortgages totalling around CHF 2 billion had been arranged through the platform since launch, at a monthly volume of roughly CHF 30-40 million. Dietrich noted that the risk-bearing side was dominated by insurers and pension funds, while banks had at that point participated neither as distributors nor as risk carriers, and identified servicing costs as the main obstacle to bank participation.[2]
In August 2023 PostFinance and Glarner Kantonalbank joined the shareholder base, and PostFinance contributed its digital mortgage brokerage platform Valuu to Credit Exchange.[8][9] In April 2024 Credit Exchange sold Valuu to Thurgauer Kantonalbank, which at the same time became a minority shareholder and a lender on the platform; the financial terms were not disclosed.[10][11]
Business model
[edit]Credit Exchange does not lend on its own balance sheet. The platform separates the distribution of a mortgage from the bearing of its credit risk: distributors enter client mortgage requests, which institutional investors see in anonymised form and on which they submit binding offers automatically and in real time; the borrower receives the best available rate, and servicing is handled through the platform.[1] Distributors can retain the client relationship without taking credit risk or providing funding, while investors gain access to mortgage lending without building their own distribution network or IT infrastructure.[1]
Scale and market position
[edit]As of May 2026, ten distribution partners used the platform, among them PostFinance, Mobiliar and VZ VermögensZentrum, together accounting for around 2 per cent of the Swiss mortgage market, while about thirty institutional investors were active as lenders. The company stated that it had arranged more than CHF 5 billion of mortgages in over 12,000 transactions since launch.[1] A 2025 Deloitte commentary on the Swiss mortgage market described Credit Exchange as a notable emerging example of a platform connecting institutional investors with financial intermediaries.[12]
In May 2026 the Swiss financial newspaper Finanz und Wirtschaft launched the FuW-Hypo-Index, a mortgage rate index based on the rates actually agreed on the Credit Exchange platform, published weekly and intended to give a more realistic picture of negotiated Swiss mortgage rates than the indicative rates published by lenders.[1]
Shareholders
[edit]As of 2026, Credit Exchange was owned by Bank Avera, Glarner Kantonalbank, Mobiliar, PostFinance, Swisscom, Thurgauer Kantonalbank and Vaudoise.[1][12]
References
[edit]- 1 2 3 4 5 6 7 8 Kühnlenz, André (8 May 2026). "Der neue FuW-Index für den besten Hypothekarzins". Finanz und Wirtschaft (in German). Retrieved 29 August 2026.
- 1 2 3 Dietrich, Andreas (17 January 2022). "Das Hypotheken-Börsenmodell von Credit Exchange – bisherige Entwicklungen und Ausblick". IFZ Retail Banking Blog (in German). Lucerne University of Applied Sciences and Arts. Retrieved 29 August 2026.
- ↑ "Credit Exchange AG, Zürich (UID CHE-213.487.925)". Zefix – Central Business Name Index. Swiss Federal Office of Justice. Retrieved 31 August 2026.
- ↑ Maeder, Ruedi (26 October 2018). "Mit CredEx bekommt die Schweiz eine neue Auktionsplattform für Hypotheken". MoneyToday (in German). Retrieved 29 August 2026.
- ↑ "Neue Hypothekarbörse soll den Schweizer Markt revolutionieren". Neue Zürcher Zeitung (in German). 25 October 2018. Retrieved 29 August 2026.
- 1 2 Hulmann, Yves (30 October 2018). "CredEx veut révolutionner le marché hypothécaire en Suisse". Allnews (in French). Retrieved 29 August 2026.
- ↑ "Hypotheken im Auktionsverfahren". cash (in German). Bloomberg. 26 October 2018. Retrieved 29 August 2026.
- ↑ "PostFinance und GLKB beteiligen sich am Hypotheken-Marktplatz Credit Exchange". Handelszeitung (in German). 16 August 2023. Retrieved 29 August 2026.
- ↑ Ravichandran, Vigneshwar (18 August 2023). "Zurich's Credit Exchange expands shareholder base with PostFinance and Glarner Kantonalbank". Silicon Canals. Retrieved 29 August 2026.
- ↑ "La TKB rachète la plateforme hypothécaire «Valuu» de Credit Exchange". Allnews (in French). 17 April 2024. Retrieved 29 August 2026.
- ↑ "TKB stärkt Hypothekenplattform brokermarket.ch" (PDF) (Press release) (in German). Thurgauer Kantonalbank. 17 April 2024. Retrieved 16 September 2026.
- 1 2 Klidjian, David; Gutzwiller, Eric; Preisig, Ueli; Bertolotto, Monica (26 August 2025). "Swiss mortgage strategies for non-banks in the next low cycle". Deloitte Switzerland. Retrieved 29 August 2026.
External links
[edit]Category:Financial technology companies Category:Companies based in Zurich Category:Swiss companies established in 2018 Category:Financial services companies established in 2018