The Open Wealth Association is taking a big step toward a standardized digital interface for wealth managers by appointing a top UBS executive to its board.
Switzerland's largest bank is the seventh member of the Open Wealth Association, whose mission is to strengthen Switzerland as a financial hub and innovation center.
It aims to connect financial institutions, WealthTechs and other service providers, and setting the Open API standard for the global wealth management community.
Excellent Network
To help in these efforts, UBS is delegating its head of multichannel, Andreas Kubli, to the association's board, Open Wealth announced Thursday. He is considered one of UBS's digitalization pioneers and has an excellent network. UBS is expected to contribute in particular to the development of an API standard for international wealth management.
The Open Wealth Association is the result of an initiative between the St. Galler Kantonalbank (SGKB) and the consulting firm Synpulse.
Working With Seven Custodian Banks
«We are proud that after just one year we are already working with seven major custodian banks and more than 30 wealth techs and service providers in the association,» Zurich-based Open Wealth Association and Synpulse partner, Raphael Bianchi said.
