We are pleased to announce that Solidatus has been selected as a UBS Future of Finance Challenge finalist, in the Smart Risk Management category. Hundreds of global submissions were received by UBS, with our submission “standing out as an innovative way to tackle their challenge of using technology to change the way finance works and how banks meet their clients' needs,” said the UBS selection committee.
We are looking forward to presenting our innovative data management solution to a panel of judges comprising of internal experts and external advisors at the Pitch Event in Singapore on October 10th, 2019. The event will be attended by UBS leaders, external experts, Deloitte, and media, with a chance to be selected as the regional winner of this challenge.
This is the third Future of FinTech Challenge UBS has run, after successes in 2015 and 2017. It is an open competition for fintech start-ups and tech entrepreneurs around the world. UBS is looking for innovative and potentially disruptive technological ideas and solutions that address specific challenges to support the transformation of banks for the future of finance:
- Smart Risk Management
- Technology Enablement
- Digital Transaction Rails & Tokenized Assets
- Deepening Client Relationships
The Smart Risk Management Challenge asked applicants to demonstrate how their technology could help UBS meet high security standards for their clients that operate in a global, digital ecosystem. They are seeking new technology solutions that can help to automate risk reducing, compliance and regulatory tasks:
- How can they enhance real-time transaction monitoring and anomaly detection to support anti-money laundering (AML), counter-terrorist financing (CTF) and associated know your customer (KYC) obligations?
- How might they automate delivery of regulatory change notices with a comprehensive view across an entire division or region?
- Once changes are implemented, how might they automate the demonstration of compliance back to regulators?
We firmly believe that Solidatus delivers all of the above and look forward to presenting to the panel in Sinagapore.
The UBS Future of Finance Challenge is delivered in collaboration with Deloitte and the innovation agency 100% Open. This collaborative approach offers commercial and technical expertise to the innovators participating in the competition and provides them with access to the innovation pipeline of a leading global financial services firm at the same time.
The participants who submit the best ideas for each challenge will be invited to attend the finals. The final in Zurich will cover the Digital Transaction Rails & Tokenized Assets challenge, the Singapore final will cover the Smart risk management challenge, and the New York final will cover both the Deepening client relationships and the Technology enablement challenges.