Swisscom stands to lose annual revenue of up to SFr165 million after four Swiss cantonal banks said they would stop using its AGI banking platform, according to a report by Reuters.
A spokesperson for the the Swiss cantonal banks of Lucerne, Thurgau, Freiburg and St. Gallen confirmed that the banks were switching to a new platform within five years.
Four cantonal banks stopped using the AGI platform earlier this year.
Separately, Swisscom says it has won a contract to develop and deliver a telephone banking system for PostFinance, the financial services provider owned by Swiss Post.
The service, called PostPhone, will be accessed with a subscriber number and PIN code and will enable customers to call up balances, obtain information on the last 20 account transactions, transfer funds between accounts, find out fund prices and block stolen payment cards.