In collaboration with a venture creation company, Expara, UBS Wealth Management in Singapore is sponsoring an initiative to crowd-source ideas with the potential to transform the digital wealth management industry.
The UBS Innovation Challenge aims to provide start-ups and tertiary institutions in Asia Pacific with opportunities to showcase innovative solutions that will optimize the delivery of advisory content on its digital platforms.
“To succeed in an increasingly competitive and digital landscape, it is essential for us continually to challenge our business models and seek innovative ways to anticipate the evolving needs and expectations of our clients. Digital technologies are an effective and efficient way to supply clients with real-time advisory content,” said Christine Ong, who is responsible for digitalization initiatives at UBS Wealth Management Asia Pacific.
“We are very happy to have UBS as a partner on this project. Expara has run more than 50 innovation challenges on our proprietary platform, Expara Innovation EngineTM, many of which have helped a variety of organizations lever on the wisdom of crowds in the generation and curation of exceptional, high-potential innovations,” said Douglas Abrams, Chief Executive Officer of Expara.
Running from 8 September until 26 November, the crowd-sourcing initiative comprises three rounds: the first requires an online submission to the Expara Innovation EngineTM (EIE) by 12 October; Rounds two and three comprise video pitch and in-person pitches, respectively. The winner of the challenge will have the chance to win SGD 40,000 as well as a contract to work with UBS. The panel judging the submissions includes venture capitalists, entrepreneurs, and representatives from local universities and government subsidiaries.
Submissions may be made via the challenge webpage at: www.expara.com/ubschallenge
