The "Israel Innovation Effect" event on 30 and 31 May brought 15 Israeli technology companies and start-ups to UBS, to promote exchange and collaboration between Israel and the Swiss financial sector.

With over 400 fintech and 450 cybersecurity companies, Israel has more young, high-tech companies per capita than any other country in the world and is sometimes called the "Start-up Nation." The country is a huge laboratory for innovation, making it extremely important to the banking sector, with its high technology and security standards. The Israeli Chamber of Commerce in Switzerland collaborated with UBS and Accenture to organize the FinTech and Cyber Showcase 2016, hosted by UBS in the Grünenhof Conference Center in Zurich. Fifteen companies from the areas of Artificial Intelligence, Big Data, Blockchain, Cyber Security, Predictive Analytics, Risk Profiling and others took the opportunity to present their products and solutions through presentations and individual talks.

Dirk Klee, COO, UBS Wealth Management, opened the event by emphasizing the importance of leveraging innovative technologies to improve the client experience. He was followed by speakers from the Israeli Embassy and Accenture. Stefan Arn, Global Head of Technology for UBS Wealth Management and UBS Switzerland, presented the digitalization strategy of UBS Wealth Management, a strategy that is deeply embedded into the fabric of the company, serving as its digital blueprint.

The event acted as a catalyst for collaboration with fintech players in Israel. It allowed us to scout potential candidates for new proof-of-concepts, as well as educating employees on digital strategy, cyber security and data analytics.