Writing e-mails, conducting research, studying maps: you no longer need a PC for these - a smartphone or tablet suffices. More than half the Swiss population uses the internet when on the move and the trend is growing. So it isn't surprising that more and more people wish to conduct their banking business, such as checking their balances, receiving real-time information about credit card transactions, making payments and trading in securities, whenever and wherever they are. These services have already become a reality with the new UBS Mobile banking app.
Mobile banking is already widespread not only in the US and Scandinavia but also in Asian and African countries. The need for location-independent banking suggests it will soon catch on in Switzerland too.
Smartphones offer even greater potential. Retailers such as Migros, Coop and Valora are currently investing in credit card terminals that allow contactless payments. Such payments currently use credit cards with a builtin near field communication chip (NFC), such as the UBS MasterCard PayPass or UBS Visa Card Pay Wave. Smartphones with the same technology could become the wallet of the future. The technology is at hand. All that is missing is a business model that convinces everyone involved.
Thanks to increasingly powerful computers, UBS e-banking is constantly responding better to our clients' different needs, for instance with personalized start pages and suitable product suggestions. The personal financial assistant is a particularly practical feature that helps you stay on budget. The new function lets you set savings targets and control spending, and provides a breakdown of your expenditures.
Ultimately, technological progress not only enables the more individual design of online platforms, but also of the entire banking relationship. When all the channels are further developed and linked, this will let clients choose how to contact the bank. Would you like a personal consultation? Or can the transaction be settled by mobile phone? Most clients prefer a mixture. For everyday banking business they use their computer or smartphone, and for complex issues such as pensions, investments or mortgages they prefer a personal consultation.
The new channels and technologies support communication between clients and banks. Here are a few examples: during consultations the potential effects of financial decisions can be simulated immediately and customized solutions drawn up to match. Client ratings and feedback via the App Store help us to continuously improve mobile banking. Social media platforms give clients a strong voice when they feel particularly well or badly treated by their bank. This enhanced public discussion should lead to improved quality in the financial sector and increased client satisfaction.
Andreas Kubli is Head of UBS Multichannel Management & Digitization and responsible for the development of digital channels.
Find out more about UBS e-banking with info videos at
The UBS Mobile banking app is available as a free download for iOS and Android or as a browser version for Windows and Blackberry. Info videos at