Swiss banking group UBS has selected Singapore-based technology company Sqreem Technologies’ artificial intelligence technology to enable its advisers deliver personalized advice to the wealthy clients.

Dirk Klee, COO for UBS wealth management and responsible for digital initiatives, told Bloomberg that, "Banking is one of the most rudimentary industries when it comes to digitalization. EBay, Amazon – everything is getting more and more digital. The question is how we translate this into a similar experience for our clients."

Sqreem Technologies received this contact after it won the Innovation Challenge, a contest organized by UBS, beating some 80 teams.

Under the contract, Sqreem Technologies will be responsible to extract the information most relevant to an individual client from an explosion of data and deliver this tailored content to clients’ mobile phones, iPads and other digital devices.

UBS will rely to the technology to counter threat of competition from Internet giants like Google and Amazon.


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