UBS Next invests in Tenity’s fintech incubation fund
Strong ecosystems and proximity to customers are key prerequisites for driving sustainable innovation and helping to shape the future of the Swiss financial centre.
A strategic partnership between UBS, the leading universal bank and digital market leader in Switzerland, and the largest Swiss innovation ecosystem Tenity with its global reach, offers an ideal starting point.
“Digitalization is the key to forward-looking banking. The partnership with Tenity gives us the opportunity to expand our fintech network and align innovative ideas and solutions at an early stage, specifically tailored to the needs of our customers in Switzerland. We look forward to working with Tenity ,” says Sabine Keller-Busse, President UBS Switzerland.
Through this partnership, UBS will become Tenity’s preferred global strategic banking partner, giving UBS access to Tenity’s global ecosystem of young, innovative fintechs – beyond UBS’s existing fintech network. With Tenity’s global and local programs, as well as the cross-industry platforms and events of all Tenity hubs, UBS will benefit from a comprehensive transfer of knowledge around innovation and the latest digital trends. UBS already works together with technology giants, fintechs, networks and universities on various topics and with UBS Next, UBS’s global venture and innovation unit, also invests directly in fintechs.
“The success of our ecosystem largely depends on the innovativeness of its participants. That we were able to win over UBS as a global strategic partner for banking makes us very proud and will help our current and future portfolio companies bring even more innovation to this important industry,” says Andreas Iten, CEO and co-founder of Tenity.
UBS Next investment in Tenity Incubation Fund
To foster innovation in the fintech sector, UBS Next invests in the Tenity Incubation Fund. For UBS, this is an attractive opportunity to invest in early-stage fintech.
Mike Dargan, UBS Group Chief Digital & Information Officer says: “We believe it is important to both partner with and invest in early stage fintech and technology start-ups to help drive innovation across UBS and the financial services industry more broadly. We look forward to to add the Tenity Incubation Fund to our investment portfolio and partner with them to support this important community of entrepreneurs.”
