Two Swiss start-ups awarded at UBS Fintech Challenge

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Stefan Kyora

11.12.2015

Five months after launching the UBS Future of Finance Challenge the award ceremony was held in Zurich yesterday. Biowatch and Embotech had been selected for the Global Finals. Both were awarded at the ceremony.

At the Global Final in Zurich on 10 December, the judges chose Aesthetic Integration, a start-up based in London, as the winner of the UBS Future of Finance Challenge. Their solution automatically analyses financial algorithms (e.g., dark pools and blockchain smart contracts) for glitches and unfair behaviour.

The two Swiss start-ups at the Global Final were awarded, too. Embotech is one of the winners of eight acceleration awards who were selected from all the sixty contestants who reached the Regional Finals. They will be offered workspaces in selected start-up accelerators across the globe and the opportunity to test their technologies with UBS for a limited period of time. Embotech, short for embedded optimization technologies, was founded in September 2013. The start-up strives to lead the market for numerical optimization solutions that will be integral part of tomorrow's decision making systems. Essentially all decision problems can be posed as optimization problems. Being able to solve optimization problems quickly and reliably will transform the way we design and build machines that have to take decisions automatically, which includes anything from a dishwasher to complex air traffic control systems. In the field of computational finance, embotech’s backend software for mathematical optimization, which is 100x faster than state-of-the-art, enables real-time, interactive portfolio optimization on mobile devices.

BIOWATCH won the employee vote at the award ceremony. One reason for this was the pitch of BIOWATCH CEO Matthias Vanoni. David Bruno, Head UBS Wealth Management Innovation, commented on Twitter: “That was one of the most INSANE presis I ever saw - fun and super-sharp, nice job on stage!!” BIOWATCH SA is offering a new authentication solution based on wrist vein recognition and provides an alternative solution to current methods. The goal of BIOWATCH is to develop a wearable that fits on your watch for secure and seamless access to e-banking & m-payment apps. The Swiss start-up gets a lot of interest from major players in the Automotive, Luxury Goods, Smartwatch and Corporate Enterprise Markets

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