UBS launches Future of Finance Challenge
(17 August 2015 – Switzerland) UBS launched The UBS Future of Finance Challenge on 12 August, an open competition for entrepreneurs and technology startups around the world.
UBS is looking for innovative and potentially disruptive technological ideas and solutions that will support the transformation of the banking industry.
In a statement, the bank said it is UBS’s aspiration to support the competition winners in their bid to commercialise and scale their ideas and technologies by leveraging on its significant global presence, deep expertise in global banking and eco-system of innovation partners.
Rewards for the regional and global finalists include cash prizes and acceleration opportunities worth over US$300,000 (A$406,000) and over 300 hours of dedicated coaching and mentoring from UBS experts and partners.
As the financial industry faces disruption and rapid technology change, UBS seeks to further progress by searching for solutions to four challenges for banks going forward: delivering the ultimate client experience, offering superior products, building an efficient operating model and ensuring security in banking.
By inviting entrepreneurs and startups to present their ideas, UBS also supports a more open and collaborative financial services industry.
The UBS Future of Finance Challenge will be delivered in collaboration with several of the leading Fintech crowd-working and accelerator spaces including Level39 and JFDI.Asia, as well as the innovation agency 100%Open.
This collaborative approach offers commercial and technical expertise to the innovators participating in the competition, and provides them with access to the innovation pipeline of a leading global financial services firm at the same time.
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