UBS Launches $200M Fintech Portfolio
Last month, multinational investment bank UBS launched UBS Next, a $200 million investment portfolio targeting investments in the tech sector, with a focus on fintech. The bank will use the $200 million portfolio to look at internal initiatives and current partnerships with tech companies, regulators, and startups and focus on cooperation with new digital technology.
“Connecting to FinTechs and tech startups through our innovation labs, digital factories, future of finance initiatives as well as project collaborations has always been key to remaining at the forefront of the digital movement to drive client experiences and operational excellence,” said UBS Europe, Middle East, and Africa president Sabine Keller-Busse in the press release.
UBS Next will seek direct investments in early stage fintech companies. The bank has already begun a strategic collaboration with Anthemis, a global venture capital firm. The firm has identified fintechs for the past decade, and will now help bolster investment opportunity identification.
UBS head of Group Technology Mike Dargan described UBS Next as “a further step to accelerate our innovation efforts as well as to identify and apply the latest technology for our client businesses. With our investments through close collaboration with Anthemis, we widen our access to FinTech startups.”
A PYMNTS article noted that UBS Next will also focus on cooperation with new digital technology trends like artificial intelligence (AI), public cloud, and microservices architecture. The bank also strives to find “new and effective ways to engage with our clients and deliver our services,” according to the release.
Investors have reported that FinTech investments are doing well, though analysts warn that market changes can be sporadic and that an external event could shape fintechs’ future. The fintech trend is leaning toward growth as technological development emphasizes the digital influence on the business world.