UBS launches Future of Finance Challenge featuring Blockchain tech

Innovation | August 20, 2015 By:

UBS announced the launch of the UBS Future of Finance Challenge, encompasses a range of specific areas of interest for the Zurich based multinational. Participating startups and companies have the opportunity to win prizes worth a total of $300,000.

“Do you have ideas that could transform how UBS, the world’s largest wealth manager, a leading investment bank and asset manager, serves its clients? Take part in our open innovation challenge and collaborate with us” said UBS.

UBS describes a range of innovative approaches, and potentially disruptive technologies, that they would like to see respondents use. The suggested relevant approaches include Artificial intelligence, Machine learning, and Quantum Processing.

Alongside these bleeding edge technologies sits Blockchain Applications, Blockchain Technology, Cryptocurrencies, and Distributed ledgers.”We are looking for disruptive ideas,” states the competitions documentation.

The company believe a healthy financial services industry should be open to transformation through collaborative innovation. UBS’s innovation teams around the world are already driving new concepts from ideation through prototyping into development. The firm is inviting you to join this process by presenting your idea to the company’s teams and then developing it with input and support from UBS.

UBS encourages those interested to apply before Sept. 23. The Swiss bank will then announce a list of 60 firms, and each chosen startup will compete in regional demo days, where they will pitch to a panel of judges. The top 12 businesses from the demo days will then proceed to the final, held in Switzerland, which will be in December this year.