UBS going bigger on digital services
New platform will boost clients' access to relevant markets and portfolio analysis next April
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Genevieve Cua
PRIVATE banking prides itself on a personalised relationship, but UBS will take this a step further next April through a digital platform that will enable clients to access virtually any market that is relevant to their portfolios. UBS Wealth Management chief executive Juerg Zeltner says the service will not only give clients market views, it will also give daily updates tailored to clients' portfolios in terms of risk-adjusted performance and UBS's recommendations.
He says the bank is planning to charge for this service, which is being made possible through large infrastructure investments. He declined to specify how much UBS has invested in its IT capabilities.
"We've invested hundreds of millions of dollars over the years in Asia . . . It's the cost of doing business. I want to look at (digitalisation) as a business: how can I access clients better, do more business with clients and complement the physical interaction? I want to price it and be paid. I don't want to build a digital world and discount my offering," he said
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