Challenges

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

 

Digital Ecosystem Challenge

We are interested in solutions can build a digital ecosystem around multichannel banking platforms, that can service a broad spectrum of retail and corporate clients and have capabilities to introduce and deliver a bank's portfolio of product and service offerings. Specifically, UBS is interested to explore how your solutions address the following areas:

Customer behavior analytics

  • Develop a more in-depth understanding of what drives our customers’ decision making: What brings clients to us in the first place? What do our best clients like about us? Why do clients end their contracts with us? How can we identify the drivers and derive individual actionable measures for dissatisfied clients? What would be the 'next best conversation' to have?
  • Offer superior insight on what drives individual product sales and usage: Which solutions allow customizable data segmentation for the ‘next product to buy’? How can we learn from historic data and generalize sufficiently well for the overall customer population?

Natural Language Interfaces

  • Define the leading edge of the conversational interface revolution, based on text as well as speech, with particular emphasis on the quality of dialog, ease of integration with standard APIs and multilingual capabilities
  • Enable federation of the most popular 3rd-party messaging and video interaction apps such as WhatsApp, Facebook Messenger, WeChat, Snapchat, Skype and FaceTime with the bank's existing interaction infrastructure

Digital Identity

  • Enable the aggregation of identity information from various sources, while preserving or even increasing security, trust and convenience requirements. We would like to learn about identity services that securely issue or aggregate a digital identity, or how to use it to enrich KYC processes and identify clients
 

RegTech and LegalTech Challenge

Best-in-class RegTech and LegalTech offers compelling potential to make it easier to monitor compliance and regulatory obligations, and to provide more efficient legal services. Specifically, UBS is interested to explore tech-based solutions that can:

Legal document management and process automation

  • Improve internal access to Legal documentation, policies and advice through enhanced knowledge management capabilities
  • Improve Attorney / Paralegal access to Legal source materials such as opinion letters and cross-border standards through enhanced knowledge and document management capabilities
  • Automate routine aspects of attorney and Paralegal work such as contract review and document handling by leveraging workflow and analytic capabilities, as well as execution and archiving, e.g. e-signatures

Automated regulatory requirements understanding and management

  • Progress automated understanding and tracking of regulatory requirements and management of changes, including associated policies

Matter / Case Management

  • Improve matter / case management capabilities and associated outside counsel engagement tracking, including cost management

Real-time transaction monitoring

  • Enhance real-time transaction monitoring to support anti-money laundering (AML), counter-terrorist financing (CTF) and associated know your customer (KYC) obligations
 

Investment Banking 4.0 Challenge

Imagine an Investment Bank 'of the future': one that delivers a cross-asset, agency trading model and is balance sheet light with seamless, digitized front-to-back processes. Overall it will deliver a highly compelling and efficient client experience. Specifically, UBS is interested to explore how your solutions can:

Capital markets client experience

  • Facilitate a highly compelling digital IB client experience, extending and integrating UBS’s services directly into the day to day working practices of our clients

Regulatory compliance

  • Achieve faster regulatory compliance, especially in light of MiFiD II, FRTB, and EMIR

Machine learning in capital markets

  • Materially and beneficially change the way we interpret and leverage the data generated from our business, with particular focus on Artificial Intelligence and Machine Learning solutions

Post-trade efficiency

  • Materially shorten post-trade trade lifecycles across one or more asset classes

Efficient client services

  • Facilitate client lending without heavily impacting our balance sheet
 

Wealth in the Digital Age Challenge

'Digital' changes not only the way we can service our clients, it also changes the expectations that our clients have and how they want to interact with us as a bank. And as in many other segments of the economy, customer experience has become a key differentiator in Wealth Management. Specifically, we are interested in solutions that can:

Data and analytics

  • Develop data-driven client personas based on the information we have about context, actions and behavior, relationships, etc.
  • Facilitate data scientist knowledge sharing, both in terms of approaches (methods, tools, functions (e.g. sharing of R libraries)) across teams and regions, and embrace new ways how analytical models can be operationalized in automated processes (potentially incl. results dashboards), without need of manual interference

Research Digitization

  • Make research less labor-intensive and less prone to biases. Provide an alternative to fast computation solutions and financial functions, without losing the ability to use 3rd party packages, libraries and toolboxes. Additionally, we are interested in fast, open-source, lower cost back-testing for frameworks and engines

Client and Prospect Activation

  • Foster new communities, as part of the client and prospect journey, and integrate them into existing landscapes, taking into consideration privacy and security needs of members as well as regulatory requirements
  • Build, maintain and extend the financial literacy of our Wealth Management clients; solution approaches for client learning might include gamification
  • Products and services to deliver philanthropy at scale through deep customer empathy, efficient initiative valuation and selection, end-to-end impact measurement and transparency

Holistic Financial Planning and Asset Consolidation

  • Provide the best advice to clients through Holistic Financial Planning with a complete view of a client's life and family situation, be it financially with investment goals, assets, liabilities or non-financially with their non-bankable assets like art, old cars etc. - always keeping the interests of our clients in mind, such as e.g. privacy. Solutions could include non-traditional profiling planning tools and behavioral analysis

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.