Wealth Management Innovation Lab

Who we are

Established in 2014, the mission of the UBS Wealth Innovation Lab is to identify and to test future products and services. Our research and development approach is designed to incubate novel ideas into testable prototypes within a sandbox environment.

We believe in a better Wealth Management experience and together, we are building the future of the bank.

What we do

About our homegrown "Rocket Process"

  • We research: We outline scenarios for a creative and strategic dialogue. We make the needs of individuals collide with megatrends and catalysts to discover possible value propositions in tomorrow’s markets. This is complemented with weak signal scans on regulatory landscape and venture capital flows.
  • We transform initial brainwaves into concepts, MVPs and prototypes which we validate with existing clients and prospects.
  • We help our in-house entrepreneurs ("intrapreneurs") to launch experiments and projects fast while using skills, network and coaching of our innovation lab.
  • We build, we measure and we learn, and sometimes we fail, as innovation is all about accepting and learning from failure.
  • We transmit validated prototypes to the organization to be launched.

How we do it

In order to build and deliver products fast, we as a team build, we measure and we learn. On top of this, we provide our intrapreneurs with a proven toolset to quickly come from an initial brainwave of an idea to a concept, to a prototype that can be validated with users.

Our innovation key themes for Wealth Management Four key themes in which we as a bank could have a stake in the future:

New Advice

Redefinition of client interactions

Irreversible shifts in client behaviours and expectations, as well as new entrants leveraging emerging technologies change the future of wealth management: Ubiquitously accessible, smartly tailored, with full transparency, on the most convenient and preferred channels.

Imagine that all our clients get tailored, personalized advice. Anytime, anywhere, perfectly adapted to their situation in life, their current needs, their immediate context as well as their emotional state. Imagine they interact with robots as well as with personal advisors – in their preferred way.

New Trust

Redefinition of privacy and security

The amount of collected personal data increases by the minute. Artificial intelligence helps to analyze behaviours, personalities and preferences. Privacy concerns soar, people worry about their ever-increasing vulnerability, about data leakage and data abuse, as well as about identity theft.

Imagine that customers have control and undisputed authority over their identity and data. They can take conscious decisions on which data is given to whom, including the ability to monetize it. Imagine they have different identities for different marketplaces.

New Choices

Redefinition of service and offerings

Advancing technologies, changing client preferences and regulatory changes trigger a number of innovations and trends that create pressure on today’s closed value chains. New choices is about enabling new value flows between participants and service providers.

Imagine that empowered customers can assemble their own wealth services by pulling together the best solutions from the best providers. Imagine banks open their value chain, exchange data and co-operate with third parties, financials and beyond.

New Wealth

Redefinition of assets

According to UBS CIO, wealth is the stock of assets that generates future income. Traditionally focused on tangible financial assets, going forward, wealth will also cover non-financial and even intangible ones. Imagine that we help our clients follow their personal purpose and mission while protecting what is dearest and most important to them. Imagine we help them overcome problems and worries, and enable them to grasp the opportunities they have always been looking for.

Innovation strategy

Our brand-new Wealth Management Innovation Map takes you on a journey into the future of Wealth Management. It highlights our clients' needs, the megatrends shaping our society, as well as technological catalysts that provide the context to create potential future differentiators for our clients.

Our current projects

What if your bank was just one question away?

Amazon Echo is a groundbreaking hands-free speaker you control with your voice that makes interacting with your bank easier as never before: Just say the word 'Alexa', and Echo springs to life. Imagine a financial question popping into your head, asking it out loud and getting an answer straightaway. Echo can also play music, give you the latest news, weather and sports scores, and lets you control your home without lifting a finger.

 

What if you could witness the impact of your donation?

Mixed Reality technologies have recently been experiencing a boom. To stay at the forefront of the latest developments, we are currently assessing various solutions, trying to find out if and to what extent it may make sense for wealth managers to apply them. As a showcase, experience the 360° video we produced with the UBS Optimus Foundation. Click on the picture on the right side using your smartphone to immerge into a remote community in Liberia and witness how the Foundation's partners help the people on site. For a better immersion, it is recommended to use a Virtual Reality headset such as Google Cardboard and click the respective icon on the bottom right of the video.

What if you could shield your personal identity?

What if UBS helped you to shield your personal identity, profile, preferences and digital footprint? We are carefully watching the growing dominance of data and interconnectedness of everything - and what it means for our clients’ privacy. Find out more and join one of our co-creation sessions!

We would love to hear from you