The UBS Board of Directors Keller-Busse: the Blockchain will not displace the Swiss banks

the Although Blockchain-technologies for banking are becoming more and more important. As the trust guarantee, however, the Distributed Ledger will not displace technologies from the traditional Swiss houses. This Sabine Keller-Busse, member of the management Board of Swiss banking giant UBS underlines, in an interview with the Neue Zürcher Zeitung. It is certain, however, that banks should in future make use of rather new technologies, in order to be more efficient .

By David Barkhausen
4. February 2019BTC$3.454,18 -0.43%part Facebook Twitter LinkedIn xing mail

Since the financial crisis, the financial industry is changing: The investment sector is shrinking, the capital markets are growing, former traditional houses tumbling in competition and regulatory pressure. Some observers see the end of the banks in sight. This change: FinTech Start-ups and Blockchain harbingers of technologies.

Otherwise, the UBS Board of Directors Sabine Keller coaches sees this. In the points-Talk of the Neue Zürcher Zeitung against them, speaks on Monday, may 4. February, pessimistic tongues, and affirms, in spite of current Trends, such as the Open Banking or the Blockchain Revolution Swiss banks would not be pushed as a traditional trust suppliers from the market. Rather, banks would have to take advantage of new technologies.

the Blockchain is a very important technology that can help us to be more efficient [...]. Where I see the Potential of the Blockchain, the global share of trade is always there, where we have different parties. I believe that the processes [using Blockchain-technologies] will be faster. I do not believe, however, that it needs the banks, but we will be on a targeted part of these terms.

The Blockchain had, moreover, especially in the Import and export business of great potential. Therefore, UBS is involved in the project, we.trade, basement-buses. Together with twelve European banks, the Swiss are currently developing a Blockchain-based solution for the financing of international trade and want to boost the confidence along global supply chains.

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competition from the FinTech industry – "customers want to see a face"

This trust was, however, advised to, of all crypto-currencies in the past few years, falter. The potential of block-chain based payment retrieve options, involve you, therefore, in addition to the development of a Swiss Utility Settlement Coin (USC). In the future, such a digital currency with the backing of the Swiss will not replace Central Bank, the banks, but was necessary, "to provide our customers with better solutions," Keller-Busse for sure.

As it is nevertheless an important competitor to traditional banking, the UBS Board of Directors at the Monday, the FinTech industry. Here, huge competition, especially for the traditional business of banks pressure. Such competition, however, is conducive to and bring the Bank to develop, so the basement buses.

especially in the case of traditional core topics, such as mortgage or pension, you can't see from the side of the UBS in danger. Customers would want to challenge the conversation with consultants and also, in the future, "a face". Finally, it was also a "future trust".

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