UBS Partners With SigFig on Tech Platform

9 years ago - Published in Finance, Fundamental Analysis

UBS announced a cooperation with the US SigFig, independent California company that offers technologies for asset management (so-called "robo-advisor", sort of virtual financial advisor).

The two companies will jointly develop technologies for the financial sector UBS Wealth Management Americas (WMA), its consultants and their customers, it said in a statement released yesterday by UBS in the US. As part of this alliance, the bank also made a capital investment in SigFig, without spreading details.

SigFig, founded in 2007, will provide digital tools for the approximately 7000 WMA consultants, with the aim to improve their efficiency. The two companies also intend to build together a research and innovation center focused on the development of the technologies in question. According to what the company itself its online platforms are already in use at several major institutions: affecting millions of people and more than 400 billion dollars.

"This alliance will Strengthen our advisors' ability to provide outstanding client experiences and outcomes by combining our expertise in relationships and personalized advice with SigFig's skills in technology, data science, design, and development," said Tom Naratil, President of UBS Americas. "It is vital for our industry to innovate and provide advisors with advanced technology that Enables service, advice and access aligned with how clients live their lives today."