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Swiss bank UBS-Group plans to expand the scope of services provided. There are many indications that the bank's wealthier clients will soon be able to take advantage of the new investment offers. These services will be available in kryptowalutach.
Testing new solutions
Recently, there have been media reports that the Swiss bank UBS is testing various possibilities of offering its clients an investment service in cryptocurrencies. However, the details of the project are not known, and the bank's research into the cryptocurrency sector is at a fairly early stage.
However, there are many indications that the investments in question will concern a small part portfolios customers, due to the fact that the cryptocurrency market is still unstable. Support in the implementation of new services is to be provided by external companies.
Artificial intelligence as a support for UBS?
There are also rumors that the president UBS, Ralph Hamers, does some research on how to reduce costs and digitize banking operations by using solutions based on artificial intelligence. They are also intended to help indicate to which group of customers the new offer should be addressed. It is worth mentioning at this point that UBS attaches great importance to various types of technological initiatives. The bank spends nearly USD 3,5 billion annually on modernizing its infrastructure.
Banks are turning to cryptocurrencies
UBS is not the first bank to turn to the cryptocurrency sector. You can even mention here BNY Mellon, Deutsche Bank, Citygroup and JP Morgan. Investment funds are also following a similar path, including Blackrock. Many of these institutions are guided by the fear that if they do not introduce cryptocurrency trading services, they will lose some of their clients.
