SINGAPORE – UBS has launched its Future of Finance Challenge competition for the Asia-Pacific region in Singapore, one of six cities around the world to invite innovators and fintechs to take part in the third edition of the Swiss bank’s global challenge.

UBS said it would be on the hunt for innovative and potentially disruptive technological ideas and solutions. These solutions need to address specific challenges in transforming banks, and also the future of finance.

Topics include technology enablement, smart risk management, digital transaction rails and tokenised assets, as well as deepening relationships with clients.

Competition participants will be able to present their ideas and solutions globally, along with winning cash prizes and opportunities worth over US$200,000 and receiving with over 150 hours of coaching from UBS experts, mentors and partners.

UBS said it aspires to support the competition winners to further commercialise and scale their ideas and technologies using its significant global presence, deep expertise in global banking and eco-system of innovation partners.

Edmund Koh, UBS Asia-Pacific president, said: “We look forward to collaborate with fintech startups and aspiring technology entrepreneurs to develop innovative solutions that will drive our industry’s digital transformation, enabling us to be future-ready.”

The deadline for competition submissions is Aug 15, 2019.

Ten participants per region – APAC; Europe, the Middle East and Africa; Americas – will be selected to attend in person the regional finals in either Zurich (Oct 9 and 10), Singapore (Oct 11 and 12), or New York (Oct 15 and 16).