Germany-based fintech startup, Credibur, secures $2.2 million funding to establish a comprehensive credit infrastructure platform.
**UBS and London Stock Exchange Group Form Strategic Partnership to Boost Data Capabilities**
UBS Group AG and the London Stock Exchange Group (LSEG) have announced a long-term strategic partnership, marking a significant step towards enhancing UBS's data infrastructure and accelerating innovation across its global operations. This multi-year collaboration will see UBS adopt LSEG's full suite of data and analytics solutions across various asset classes, business lines, and the full trade lifecycle.
The partnership kicks off with UBS integrating LSEG's data and analytics solutions into its operations, including tools acquired by LSEG from Refinitiv in 2021. These solutions will become an integral part of UBS's internal data platform, UBS Quotes. The scope of integration is extensive, covering multiple asset classes, business franchises, and the entire trade lifecycle, ensuring comprehensive data coverage across UBS's operations.
One of the key benefits of the partnership is the integration with LSEG Workspace, offering cloud-native analytics, AI-driven modelling tools, and greater interoperability with platforms such as Microsoft Excel and Microsoft Teams. This integration is expected to accelerate product development and improve decision-making across UBS's value chain.
The partnership is also part of UBS's strategy to integrate Credit Suisse, which it acquired for $3.4 billion in 2023. By streamlining data access, governance, and cataloguing across the bank, the partnership aims to unlock operational efficiencies and cost synergies, allowing UBS to serve its clients with greater precision and agility.
The adoption of next-generation functionalities through LSEG Workspace includes AI-powered modelling tools, which will enhance UBS's analytical capabilities and support more sophisticated decision-making processes. The integration with cloud-native analytics will enable UBS to leverage scalable and flexible data processing capabilities, facilitating faster product development and adaptation to market changes. Enhanced interoperability with platforms like Microsoft Teams and Excel will improve collaboration and data integration across different departments and tools within UBS.
Sergio P. Ermotti, Group Chief Executive Officer at UBS, expressed his commitment to innovation, efficiency, and delivering value to clients through the expanded partnership with LSEG. The agreement is expected to support scalable and long-term revenue growth across the UBS Group, as well as contribute to mutual, sustainable growth for both UBS and LSEG, as well as the wider market.
David Schwimmer, Group Chief Executive Officer at LSEG, emphasized the focus on delivering high-quality, multi-asset class solutions that cater to evolving partner and customer needs. The partnership reflects a commitment to innovation and delivering value to clients in the financial sector.
- The collaboration between UBS and London Stock Exchange Group, driven by the integration of LSEG's technology and data solutions, aims to significantly modernize UBS's data platform, UBS Quotes, bolstering its business operations across various asset classes.
- As part of the UBS's broader strategy, the partnership with London Stock Exchange Group also targets enhancing the bank's analytical capabilities through AI-powered models and cloud-native analytics, fostering decision-making agility and facilitating more sophisticated client-servicing in the realm of finance and business.
