Taking fintech to Level39
UBS has become the first global bank to open an innovation lab at technology accelerator space Level39 in London’s Canary Wharf. The bank says the laboratory will be led by a team of financial tech specialists looking at how UBS can foster innovation as a key driver for growth. UBS says it will use Level39 to explore new technologies in partnership with others and will be ‘fully involved in the innovation ecosystem’.
UBS is participating in a number of fintech accelerator programmes and believes a dedicated lab will enable it embrace the working practices of start-ups and larger digital firms.
“By establishing a dedicated innovation lab at Level39 we are moving away from a purely in-house innovation strategy, optimising collaboration opportunities with the growing fintech business, start-up and investor community in an open and transparent way,” says Oliver Bussmann, CIO at UBS. “Our innovation lab at Level39 will provide a unique platform to explore emerging technologies such as Blockchain and crypto-currencies, and to understand the potential impact for the industry.”