Record year for Synthesis Bank - 12 December 2006
Record year for Synthesis Bank,
which has:
• tripled its number of clients
• doubled its transaction volume
• doubled its turnover
In a press conference in Geneva this morning, Charles-Henri Sabet, the founder and CEO of Synthesis Bank, a major player in online banking, announced that “2006 was a year of many records” and that “the strong growth of Synthesis confirms his
conviction that he has picked the right strategy.”
Since December 2005, Synthesis Bank has:
• tripled its number of clients, 50% of whom are Swiss residents, the other half representing a hundred or so other countries, with a clear majority from Germany and France (22%);
• more than doubled its volume of transactions relating to currencies, shares, futures and CFDs (Contracts for Difference), which are increasingly successful; the annual volume of transactions performed on its TradingFloor platform amounts
to more than CHF260 billion; in the last two months, the volume of operations has exceeded CHF1.2 billion per
day;
• above all, whilst it has substantially broadened its product offering, constantly improved its technology and offered ever more competitive rates, Synthesis has more than doubled its turnover, which has risen from 13 to 26 million francs.
“Our investments are vital, because we aim to remain the benchmark in terms of product offering, and quality of services and technology. This year, we recruited more than 30 specialists, increasing our teams to 70 people. These efforts have not, however, prevented Synthesis from achieving a positive cash-flow this year. In only 18 months, it is a fantastic development," stressed Charles-Henri Sabet, who made no secret of his intention to launch new projects for his bank.
Synthesis Bank is regularly ranked “the most advantageous online bank” by the specialist Bilan, Stocks and Tages Anzeiger newspapers, and its TradingFloor platform is recognised as being one of the best in the world. In particular, Synthesis is
the only Swiss bank not to charge deposit fees and it offers the most competitive spreads and commissions on the Swiss marketplace.
Charles-Henri Sabet continued: “thanks to our state-of-the-art technology, all our clients are—in real time—at the cutting edge of information and analysis. It is important for them to know, instantaneously, what is happening on the markets and to be able to act that very second. In this way they possess the means to outperform the market.”
“At Synthesis Bank, all our connections to the markets are computerised and automated, and this is consistent with our strategy, which is to count on volumes rather than on commissions. Our clients are the first to benefit from this, and not only in terms of price.” Because, for Charles-Henri Sabet,” in our business, quality criteria are even more decisive than rates. The professionals in our front office therefore have all the experience and expertise necessary to help and support our clients on all the markets we propose.”
Charles-Henri Sabet insists on training: ”in order to initiate those who so wish or to perfect the knowledge of our clients, Synthesis Bank organises — in Geneva, Zurich, Lausanne and Basle — training courses in technical analysis and asset allocation, as
well as workshops on Forex, CFDs and Futures.
The other strengths of Synthesis include back office and reporting operating in real time, and exemplary risk management. As such, its online platform automatically records every transaction and manages each client’s exposure and margins, by consolidating all their assets, whatever the product. In the event of excessive leverage, the client is immediately informed. Moreover, portfolio managers can follow, on screen, all their clients’ positions, and continuously control their risks.
Moreover, the new TradingFloor platform is even more user-friendly and easy to access. “Even more relevant information is at our clients’ disposal, both on stock exchange and currency rates and on the market’s economic news, including comparisons between different investment instruments and the graphic analysis of trends,” adds Charles-Henri Sabet.
