UBS Next will mostly engage in direct investments into early stage fintechs and other related tech companies. Also, the bank has also come into a partnership with Anthemis to help identify up-and-coming fintech startups and improve deal flow.
Mike Dargan, head of group technology, comments: “UBS Next is 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 start-ups.”
Dargan considers UBS Next will improve the bank’s engagement with the startup network, and put it at the forefront of new technological innovations in public cloud, microservices architecture, and AI
The bank is also staring at the upside potential from its equity investment. A latest report from the UBS research team depicted the global fintech industry as at an intonation point, with revenues set to grow from $150 billion in 2018 to $500 billion in 2030.
