Last week a new player emerged on the marketplace lending scene. A Form N-2 registration was filed with the SEC by...
UBS has broadly launched its robo advisor service SmartWealth after a limited launch in October; the solution presents another robo advisory service offering by an incumbent financial services provider; portfolio fees range from 1% to 2% with an investment threshold of 15,000 British pounds ($18,500); according to data from Business Insider, Vanguard's Personal Advisor Services leads the robo advisor market with assets under management of $41 billion followed by Schwab with $10 billion and Betterment with $6.2 billion. Source
UBS has been ramping up their use of robots to help reduce manual processes; the bank started at 50 in...
Writing in the Financial Times Huw van Steenis, former adviser to the governor of the Bank of England and chair...
On the heels of the Ant Financial IPO news earlier this week leading Chinese online wealth management platform Lufax is...
UBS has partnered with Amazon to utilize Amazon's Alexa artificial intelligence (AI) for a pilot program with wealth management clients in the UK; Alexa will provide answers on inquiries about wealth management topics and the economy for clients through several devices; the partnership follows a trend toward use of artificial intelligence in the wealth management industry and a deal by UBS with robo adviser SigFig for account services; Alexa's AI capabilities offer a cost efficient way to provide information and standardized advice for wealth management clients. Source
StatPro acquired UBS' Delta platform for EUR 13 million ($13.7 million); news of the deal caused shares in the AIM listed StatPro to jump 10%; the deal will help StatPro to reach scale in terms of revenue and clients according to StatPro's CEO Justin Wheatley; the transaction shows that not only banks are able to acquire or partner with fintech firms, but fintech firms can look to acquire parts of a bank as well; in an interview with Business Insider Wheatley explained, "Acquisitions are part of our strategy, however in the short term this is a very big deal for StatPro — it adds 40% to our revenues — I think we'll be digesting this lump for a little while before we carry on but I certainly wouldn't rule out any more deals later on." Source
A new survey of 175 banks by UBS shows that larger banks like JPMorgan Chase and Bank of America invest...
Buy now pay later firms are quickly becoming the alternative to credit cards during the pandemic; companies like Afterpay, Zip,...
