UBS group has announced plans to invest $200mn in FinTech companies.
In Brief:
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It will invest over the “medium term”.
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This will be part of its UBS Next portfolio.
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UBS is strategically collaborating with VC firm anthemis to source deals.
What does this mean?
This commitment is part of UBS’ aim to digitise its services and “find new ways to engage with clients”, says Bloomberg.