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# Why did Swiss retailer Coop shut down its banking offering?
- URL: https://www.embeddedfinancereview.com/why-did-swiss-retailer-coop-shut-down-its-banking-offering/
- Published: 2024-08-11T08:18:00.000Z
- Updated: 2025-11-06T09:18:46.000Z
- Description: Swiss retailer Coop shuts down banking product just nine months after launch. Why standalone offerings fail and what retailers get wrong about embedded finance.
- Author: Lars Markull
- Tags: News, Coop, Retail, Embedder, Embedded Banking, Switzerland

Just nine months after its launch announcement, Swiss retail giant Coop announces that it is shutting down its banking product ([Finews](https://www.finews.com/news/english-news/63847-coop-beendet-sein-neobanken-experiment-2?%5Fbhlid=8d096852d3b1264094e0a806925200e951ceb105&ref=embeddedfinancereview.com)). The news was a surprise because:

- Nine months is rather a short time for retail giant to get relevant insights
- The announcement in October 2023 made it appear that Coop is pretty confident in its financial service plans
- Coop shared a number of partners (incl. insurances) whose products were never being launched

On the other hand, the announcement was not a surprise, because:

- The product was hardly ‘embedded’, but rather a stand alone banking offering
- It is never easy to build an embedded finance product, but retailers face a number of challenges
- There was little to no progress in adding new financial products besides the bank account and card offering.

Overall, it seems that the move to re-enter the world of financial services was either not well planned or commitment from top level management was not in place or has shifted ([Money Today](https://www.moneytoday.ch/news/coop-finance-lancierung-ohne-strategie-planloser-ausstieg?%5Fbhlid=7f241f1b31e8efbd242cb16179f6581402dc69d5&ref=embeddedfinancereview.com); German).