UBS launches $200,000 FinTech competition
Written by Anthony Strzalek
UBS has announced the launch of its second Future of Finance Challenge, with a prize fund of up to $200,000 for successful FinTech startups.
The Future of Finance Challenge is a competition open to FinTech companies around the world, through which UBS looks for innovative and potentially disruptive technological ideas and solutions that will “support the transformation of the banking industry”.
After the inaugural competition in 2015, a new wave of participants will now have the chance to scale their ideas and technologies with help from UBS.
Rewards for the regional finalists include $80,000 of cash prizes, up to $200,000 to fund proof-of-concept/ pilot opportunities, and over 250 hours of dedicated coaching and mentoring from UBS experts and partners.
Axel Lehmann, group chief operating officer at UBS, said: “Digitalisation is driving an unprecedented transformation of our financial industry. It is important for us to understand how innovation and technology can help us to adapt to changing client and people behaviours – and technological enhancements present a unique opportunity for a step-change to our client offering.
“We aim to support FinTech companies and organizations who are transforming our industry and work with them to provide even better services to our clients.”
The deadline for submissions is midnight on July 28 2017. Participants will be divided into four groups organised by region: Asia-Pacific (including Australasia), EMEA (Africa & Western Europe), EMEA (Central and Eastern Europe, Middle East & Russia) and Americas.