UBS Banking App Sees Significant Growth a Year After Its Launchby Fintechnews Switzerland May 18, 2023
UBS has reported that its digital banking offering ‘UBS key4’ has witnessed rapid growth, active usage and continued development of its product line in the past year since its launch.
The UBS key4 provides private clients with a comprehensive digital offering for day-to-day banking transactions, but also for more complex needs – from payments and savings to investing, retirement planning and financing.
Users of UBS key4 have access to all of these features online where the registration and onboarding reportedly takes a few minutes in order to activate the account and card.
Within the first year of launch, the bank has rolled out UBS key4 cards, UBS key4 smart investing, UBS key4 pension 3a, UBS key4 fx, and UBS key4 mortgages.
Meanwhile, the bank had also launched the UBS key4 business for its corporate clients where they can register for a free capital payment account that will be made available immediately.
Since its launch, the number of accounts being opened online among private clients has tripled as more than 175,000 clients actively use UBS key4. Additionally, 77 percent of all UBS personal banking clients and 81 percent of corporate and institutional clients are already digital.
Moving forward, the bank said that UBS’s key4 offerings will be expanded with improved client experience.
This includes the introduction of fund saving with UBS key4 smart investing so that fund accounts can also be opened and managed digitally and act as a gift for third parties.
Additionally, the digital offering for corporate clients will be expanded with the Instant Credit offering as well as new, paperless and convenient self-service functions.
“I am very proud of what we have achieved. As promised, we continued expanding our offering after the launch of UBS key4 at a rapid pace and across various client groups. And I look forward to expanding the product range even further,”
says Sabine Keller-Busse, President UBS Switzerland.
Featured image credit: Sabine Keller-Busse, President UBS Switzerland. Background image edited from Freepik