UBS Fintech Pioneer Joins Digitization Initiative
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The Open Wealth Association is taking a big step toward a standardized digital interface for wealth managers by appointing a top UBS executive to its board.
Switzerland’s largest bank is the seventh member of the Open Wealth Association, whose mission is to strengthen Switzerland as a financial hub and innovation center.
It aims to connect financial institutions, WealthTechs and other service providers, and setting the Open API standard for the global wealth management community.
To help in these efforts, UBS is delegating its head of multichannel, Andreas Kubli, to the association’s board, Open Wealth announced Thursday. He is considered one of UBS’s digitalization pioneers and has an excellent network. UBS is expected to contribute in particular to the development of an API standard for international wealth management.
The Open Wealth Association is the result of an initiative between the St. Galler Kantonalbank (SGKB) and the consulting firm Synpulse
We are proud that after just one year we are already working with seven major custodian banks and more than 30 wealth techs and service providers in the association, Zurich-based Open Wealth Association and Synpulse partner, Raphael Bianchi said.
Questions & Answers
Q.What is the main goal of the Open Wealth Association?
What is the main goal of the Open Wealth Association?
Its primary mission is to strengthen Switzerland as a financial hub and innovation centre. It aims to connect financial institutions, WealthTechs, and service providers, while establishing an Open API standard for global wealth management.
Q.How will UBS contribute to the Open Wealth Association's efforts?
How will UBS contribute to the Open Wealth Association's efforts?
UBS is expected to contribute particularly to the development of an API standard specifically for international wealth management. They are delegating their head of multichannel, Andreas Kubli, to the association’s board to aid these efforts.
Q.Who initiated the Open Wealth Association?
Who initiated the Open Wealth Association?
The Open Wealth Association was formed as a result of an initiative between the St. Galler Kantonalbank (SGKB) and the consulting firm Synpulse. It has quickly grown since its inception.
Q.How many members does the Open Wealth Association currently have?
How many members does the Open Wealth Association currently have?
After just one year, the association is working with seven major custodian banks. Also, it has more than 30 wealth techs and service providers as members, according to Raphael Bianchi.