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UBS turns to artificial intelligence to advise wealthy clients

Singapore-based tech firm Sqreem Technologies will mine data on Swiss bank's customers for insight

The introduction of mobile payment systems offered by Internet giants has alerted traditional banks to the potential threat from tech companies with vast databases and the know-how to exploit them.


UBS Group AG, facing the threat of competition from Google Inc and Inc, has turned to a Singapore-based technology company that uses artificial intelligence for help delivering personalised advice to the bank's wealthy