The Swiss Federal Pension Fund PUBLICA is a collective institution established under public law, currently comprising 12 pension plans. As the pension fund for the federal government and closely associated organizations, PUBLICA holds responsibility for almost 70,000 active members and around 42,000 pension recipients and is one of the largest pension funds in Switzerland.
PUBLICA, one of the largest public pension funds in Switzerland, manages assets of CHF 42,5 billion for almost 70,000 active members and around 42,000 pension recipients. The organization needed an accurate, real-time, consolidated view of its cash balances on a daily basis and a secure method to make payments.
PUBLICA must ensure that it is able to pay out pensions at all times. The pension fund needed an accurate, real-time, consolidated view of its cash balances on a daily basis and a secure method to make payments. This also aligned with one of PUBLICA’s strategic priorities: the use of digital technologies to gain efficiency and minimize human errors.
The Swiss Federal Pension Fund PUBLICA is a collective institution established under public law, currently comprising 12 pension plans. As the pension fund for the federal government and closely associated organizations, PUBLICA holds responsibility for almost 70,000 active members and around 42,000 pension recipients and is one of the largest pension funds in Switzerland.
PUBLICA did not have a system in place that could process all payments electronically. The organization was reliant on reporting from custodians, third-party banks, and Bloomberg, which provided a fragmented picture. This lack of connectivity made it difficult for the treasury team to manage multiple bank accounts effectively. The existing manual processes involved downloading daily bank statements and creating journal entries, which was time-consuming and error-prone. PUBLICA recognized that a robust, integrated solution was essential to enhance efficiency and provide visibility across its treasury operations.
PUBLICA selected Fides to provide the necessary connectivity and integration for its treasury operations throughout Switzerland. This included Fides solutions for bank connectivity (including SFTP), payments, account reporting, and ONEHub, a centralized interface for streamlined cash and liquidity management. The decision was based on Fides’s high security standards, web-based platform access, decades of experience and proven success in the Swiss market.
The Fides implementation began in March 2023 and was completed by the end of the year, including a rigorous testing phase. With Fides, PUBLICA was able to establish connections with multiple banks using SWIFT and EBICS protocols, ensuring compliance with current banking standards and security measures.
PUBLICA coordinated closely with the Fides team to ensure a seamless transition, overcoming challenges related to different connectivity types and the shift to ISO 20022 during the implementation phase. While PUBLICA prioritized ISO 20022 adoption, many of its counterparties had not yet migrated to the new XML-based standard.
As a result of the Fides implementation, PUBLICA has realized tangible benefits including:
100% Digitized Processes: All payment transactions are now fully electronic, significantly reducing the risk of manual errors.
Holistic Cash Visibility: The treasury team now enjoys a centralized view of all bank accounts, facilitating better decision-making.
Enhanced Security: Implementing a digital version of the four-eyes principle for electronic payments increases security and aligns with PUBLICA’s risk management priorities.
Increased Efficiency: Streamlined processes allow the treasury team to focus on strategic initiatives rather than manual tasks.
Fides is the world leader in multibank connectivity, payments and transaction communications. A market leader for more than a century, Fides is committed to making financial operations as efficient, transparent and secure as possible for all organizations. More than 4,000 clients rely on Fides for efficient cash and liquidity management, through connectivity to more than 13,000 banks and comprehensive workflow, reporting, conversion, validation and security services. Whether you access via the secure Fides ONEHub or leverage our seamless integration with third-party ERP, TMS and other backend systems, Fides is the only platform you need.
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