UBS has announced the winners of The UBS Future of Finance Challenge at the Global Final held in Zurich, Switzerland
Three winners of the UBS Future of Finance Challenge were selected from over 600 participants from 52 countries. The Global Final is the culmination of a four-month competition that aims to identify innovative and potentially disruptive technological ideas and solutions to support the transformation of the banking industry.
The winners are:
First place: Aesthetic Integration (www.aestheticintegration.com) – will receive a cash prize of USD 50,000
Second place: Capital Preferences (www.capitalpreferences.com) – will receive a cash prize of USD 20,000
Third place: WealthForge (www.wealthforge.com) – will receive a cash prize of USD 10,000
UBS aims to support the winners of the Challenge in their bid to commercialize and scale their ideas and technologies by leveraging its significant global presence, deep expertise in global banking and its eco-system of innovation partners. The remaining nine Global Finalists will each receive USD 5,000 and UBS intends to maintain on-going conversations with all Global Finalists as their technologies evolve.
“The UBS Future of Finance Challenge has been an important and exciting initiative for UBS. We've opened up our organization to work with hugely talented start-ups that will help us to evolve. I would like to thank all participants in the Challenge, as well as our judges and mentors for their participation," says Sergio P. Ermotti, UBS Group Chief Executive Officer and global judge panel member.
The winners of the UBS Future of Finance Challenge were chosen after an intensive two-day process, which included a day of coaching and mentoring from UBS experts and partners to help the Global Finalists further develop their propositions and prepare their final pitch presentations. On the second day the Global Finalists made their presentations in front of the judging panel, which included members of the UBS Group Executive Board and renowned Fintech industry representatives.
Separately, UBS announced the winners of eight acceleration awards who were selected from candidates, who reached the Regional Finals. They will be offered workspaces in selected startup accelerators across the globe and the opportunity to test their technologies with UBS for a limited period of time.
Rewards for all the Regional and Global Finalists included cash prizes and acceleration opportunities worth over USD 300,000, and over 300 hours of dedicated coaching and mentoring from UBS experts and partners.
The UBS Future of Finance Challenge was delivered in partnership with the open innovation agency 100%Open and supported by the leading Fintech crowd-working and accelerator spaces Level39, JFDI.Asia and NUS Enterprise @ BLK71.