UBS has announced a purely digital product line for clients who want to carry out their banking transactions from their smartphone as part of long-term plans to digitize the bank’s entire offering.

The Swiss banking giant said that UBS key4 is integrated into the UBS mobile banking app and will now become the general gateway to digital banking services.

Initially, UBS key4 will target new clients in Switzerland who want to carry out their banking transactions entirely digitally.

The new digital product line UBS key4 is in addition to the digital mortgage and financing platform key4 by UBS, which was launched in summer 2020.

UBS key4 will initially comprise a basic digital offering with a personal account, two savings accounts, a prepaid card and mobile payment options (Apple Pay, Google Pay, Samsung Pay and more), as well as a debit card, UBS TWINT and UBS KeyClub.

Additional new digital offerings will gradually be integrated into the UBS key4 product line.

The bank said it would ultimately incorporate pension planning or investing into the digital offering.

Sabine Keller-Busse, president of UBS Switzerland, said: "The new, purely digital product line UBS key4 forms a central part of UBS’s comprehensive digitization in Switzerland.

"I’m convinced that in the future, only a seamless and integrated range of digitized banking services will meet clients’ ever-changing needs. That’s why we are gradually digitizing the entire offering, from simple to complex services, to make it comprehensive, consistent and integrated."

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