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UBS opens FinTech innovation lab at Level39

UBS is partnering with Canary Wharf’s Level39 accelerator to open a dedicated innovation lab where it will test and develop new technologies for the banking sector.

The company will bring in a team of financial technology specialists to work alongside other experts in the field, with a particular focus on exploring uses for the Bitcoin ledger platform Blockchain, as well as other opportunities for making finance more transparent.

“By establishing a dedicated innovation lab at Level 39 we are moving away from a purely in-house innovation strategy, optimising collaboration opportunities with the growing FinTech business, start-up and investor community in an open and transparent way,” said Oliver Bussmann, Group CIO at UBS. “Our innovation lab at Level39 will provide a unique platform to explore emerging technologies such as Blockchain and crypto-currencies, and to understand the potential impact for the industry.”