Challenges

We have identified four focused challenges where technology can transform how finance works and how banks can meet their client's needs:

Deepening client relationships

Bank clients increasingly expect personalized products and services and serve them as a 'segment of one'.

  • How can we deepen client relationships and financial advisors to deliver more personalized advice, e.g. truly understand client needs, holistic planning and wealth view, Client Relationship Management of the future?
  • How can new solutions help identify client needs, e.g. find prospect clients, identify the next best action, family and wealth transfer planning?
  • How can technology make the advice relationship more seamless, e.g. smart assistants for investments and research, digital client interaction?
  • How can wealth managers use technology to connect clients to one another, e.g. build networks and market places, find opportunities?

Smart Risk Management

As an international bank, UBS has to meet high security standards for our clients that operate in a global, digital ecosystem and seeks new technology solutions that can help to automate risk reducing, compliance and regulatory tasks

  • How can we enhance real-time transaction monitoring and anomaly detection to support anti-money laundering (AML), counter-terrorist financing (CTF) and associated know your customer (KYC) obligations?
  • How might we automate delivery of regulatory change notices with a comprehensive view across an entire division or region?
  • Once changes are implemented, how might we automate the demonstration of compliance back to regulators?

Digital Transaction Rails & Tokenized Assets

New digital transaction rails and tokenized assets and powered by distributed ledger technologies could significantly change the financial landscape by increasing liquidity, creating secondary markets, removing territorial barriers, reducing risk and eliminating middlemen. UBS wants to see what solutions are gaining traction and solve remaining challenges.

  • What cost efficiencies can be gained in transactions and settlements?
  • Can impact investing benefit from traceable assets?
  • How can we use tokenized assets to drive new liquid markets?
  • How is compliance and reporting ensured in distributed transaction networks?

Foundation Setting: Technology Enablement

Banks rely increasingly on technology. We are looking for the latest technology solutions and innovations that can enable our business to thrive and a create lasting client impact

  • What are state-of-the-art sandbox platform enabling rapid prototyping and end-to-end customer journey showcasing?
  • How can we engage Fintechs with API (covering instant transactions , data aggregation and analytics, development & prototyping, and compliant data transfer)?
  • Which solutions can automatically increase accuracy, allow secure data sharing and interoperability, support diligence around interpretability and model validation, automated governance and version control of AI models in a regulated business?
  • Cloud Enablement solutions: how can we create, deploy and operate our IT infrastructure, software and resources through the (multi-)cloud?

Technologies

We’re excited to see what ideas you have to address our four challenges. Here is a selection of the innovative approaches and potentially disruptive technologies we think will be relevant:

APIs, Alternate lending, Artificial intelligence, Automation, Big data, Biometrics, Blockchain Applications, Blockchain Technology, Crowdsourcing, Cryptocurrencies, Data analytics, Digital advisory, Digital identification, Digital marketplaces, Digital Vault, Distributed ledgers, Fraud management networks, Immersive Virtual Reality Environments, Internet of Things, Machine learning, Mobile Technologies, Modularization, Natural Language Processing, New algorithms, Online credit scoring, Portfolio management, Portfolio optimization, Predictive analytics, Quantum Processing, Risk profiling, Security and privacy verification, Smart contracts, Smart recommendations, Trading algorithms, User Experience.

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Deloitte and 100% Open are not affiliated with UBS