Launch of the UBS Future of Finance Challenge 2017
UBS launches second global competition to find innovative solutions for the bank of the future
Zurich, 14 June 2017 – After the inaugural competition in 2015, UBS launches today the second global UBS Future of Finance Challenge.
The UBS Future of Finance Challenge is a competition open to Fintech companies around the world, through which UBS looks for innovative and potentially disruptive technological ideas and solutions that will support the transformation of the banking industry. Participants will have the chance to scale their ideas and technologies by leveraging upon UBS’s global presence, deep expertise in global banking and ecosystem of innovation partners. Rewards for the regional finalists include USD 80,000 of cash prizes, up to USD 200,000 to fund 'proof-of-concept'/ pilot opportunities, and over 250 hours of dedicated coaching and mentoring from UBS experts and partners.
As the financial industry faces disruption and rapid technology changes, UBS is keen to find more solutions through four competition challenges: Digital Ecosystem, RegTech and LegalTech, Investment Banking 4.0 and Wealth in the Digital Age.
The UBS Future of Finance Challenge 2017 will be delivered in collaboration expert innovation partners and alongside Fintech companies from the Americas, Europe and APAC. This collaborative approach offers commercial and technical expertise to the participants, and provides them with global access to UBS business and technology leaders and the wider innovation ecosystem at the same time.
Check out the website now: www.ubs.com/innovate
«Digitalization is driving an unprecedented transformation of our financial industry. It is important for us to understand how innovation and technology can help us to adapt to changing client and people behaviours – and technological enhancements present a unique opportunity for a step-change to our client offering. We aim to support Fintech companies and organizations who are transforming our industry and work with them to provide even better services to our clients. I strongly encourage ambitious, growing Fintechs to enter this exciting competition.»
Axel Lehmann, Group Chief Operating Officer
Entries should be submitted at www.ubs.com/innovate. The deadline for submissions is 23:59:59 CET, July 28, 2017.
- Participants will be divided into 4 groups organized by region: Asia-Pacific (including Australasia), EMEA (Africa & Western Europe), EMEA (Central and Eastern Europe, Middle East & Russia) and Americas.
- A maximum of 10 participants per region will be shortlisted to participate in Regional Finals which will be held in: Hong Kong (September 27 and September 28, 2017), London (October 23 and October 24, 2017); New York, (November 7 and November 8, 2017); Zurich (November 29 and November 30, 2017)
- All shortlisted participants must attend the Regional Finals in person.
The Regional Finalists will receive the following support and prizes:
Shared across all regional finalists:
- 250 hours of dedicated coaching and mentoring from UBS experts and innovation partners
4 Regional winners:
- USD 20,000 each
Participants selected for ‘proof-of-concept’ / pilot
- Funding of up to USD 200,000 available for proof-of-concept / pilot activities
The UBS Future of Finance Challenge 2017 is governed by Official Rules. Eligibility restrictions apply. Full details regarding the Challenge can be found at www.ubs.com/innovate.
UBS Group AG
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