SWISS banking giant UBS has launched a competition for game-changing entrepreneurs and technology start-ups around the world.
In a press statement, UBS said it’s looking for “innovative” and “potentially disruptive” technological ideas and solutions that would support the transformation of the banking industry.
The bank wants to support the competition winners in their bid to commercialize and scale their ideas and technologies by leveraging on its global presence, deep expertise in global banking and eco-system of innovation partners.
Rewards for the regional and global finalists include cash prizes and acceleration opportunities worth over $300,000 and over 300 hours of dedicated coaching and mentoring from UBS experts and partners.
As the financial industry faces disruption and rapid technology change, UBS seeks further progress by searching for solutions to four challenges for banks going forward: delivering the ultimate client experience, offering superior products, building an efficient operating model and ensuring security in banking.
“By inviting entrepreneurs and startups to present their ideas, UBS also supports a more open and collaborative financial services industry,” the bank said.
The UBS Future of Finance Challenge will be delivered in collaboration with several of the leading financial technology crowd-working and accelerator spaces including Level39 and JFDI.Asia, as well as the innovation agency 100%Open.
This collaborative approach offers commercial and technical expertise to the innovators participating in the competition, and provides them with access to the innovation pipeline of a leading global financial services firm at the same time.
More information on this competition can be found at www.ubs.com/innovate.