UBS expands its digital offering

Today, May 19, UBS launched the purely digital production line UBS Key4. A financing platform under the name Key4 has existed since 2020, where the mortgage business is aggregated. In the first step, second, the new Key4 now offers “Basic offer with private account, two savings accounts, one sustainable, prepaid card at attractive exchange rates and mobile payment, debit card, Twint and UBS Keyclub”.

Comprehensive digitization in Switzerland

The new UBS Key4 product line and existing UBS Key4 funding platform are an important and complementary part of the digital strategy. “UBS Key4 is primarily aimed at new customers in Switzerland who want to conduct their banking transactions exclusively digitally.” Unlike the CSX offering from Credit Suisse, there is no separate app at the moment. The offer will be integrated into the existing UBS mobile banking application.

On the occasion of the presentation of the figures for the fourth quarter of 2021 The big bank announced that it will invest more money in technology and increase strategic investments in information technology. UBS intends to be a global manager of digital assets in the future. Sabine Keller-Busse, President of UBS Switzerland, Key 4: “UBS Key4’s purely digital suite of products forms an essential part of UBS’s overall digitization in Switzerland. I am convinced that only in the future is a seamless and integrated suite of digital banking services that meet the ever-changing needs of customers” . The entire range will be digitized step by step. Topics such as pensions or investments should also be incorporated into the Key4 domain.
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Developed in a purely agile setting

With a relatively cheap credit card, Key4 also has an area where new banks are particularly successful. Sabine Magri, COO of UBS Switzerland confirms: “We are not following the strategy of a new bank” “finews.ch”. All customers can move freely between offers. “We don’t want to force customers into one channel.”

According to Magri, Key4 was developed and launched in a purely agile setup. “It worked perfectly and makes us a lot faster.” The communication states that the offer is constantly being developed in multidisciplinary teams and that customer feedback is specifically included. This greatly increases the pace of innovation.

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