UBS has deployed a new artificial intelligence solution across its Swiss operations following a pilot phase that began in the summer. The technology is designed to consolidate information from various internal applications and support the entire advisory process, allowing client advisors in Switzerland to focus on substantive preparation rather than gathering data and reviewing past contacts.
Sabine Magri, Head of Personal Banking at UBS Switzerland, stated that the competitive advantage in financial advisory does not stem merely from utilizing artificial intelligence, but from how intelligently the technology is combined with human expertise. Advisors can now aggregate information from multiple internal systems with a single click, reviewing past contacts, discussed concerns, complaints, financial goals, and pending items without spending hours on preparation.
Magri noted that employees want to advise clients and help them achieve their financial goals rather than summarize contact notes. The technology aims to provide advisors with more time and a better information foundation. Beyond meeting preparation, UBS intends to use the system to identify when a client has a specific advisory need based on their life phase, previous discussions, financial framework conditions, and personal goals, enabling the bank to reach out when topics such as acquiring a home, funding children's education, or improving retirement provisions become relevant.
Magri pointed out that integrating artificial intelligence into advisory processes requires substantial investments, the backing of top management, and the conviction that the business model can evolve, noting that while many talk about it, few execute it. The advisory meetings themselves have also become more dynamic through a supportive, interactive tool that adjusts flexibly to the conversation flow. If a client shifts from talking about payment transactions and savings to investments, the system dynamically pulls the relevant transaction data to provide a comprehensive overview as the topics unfold, rather than requiring advisors to manually pull additional documents.
Despite these digital advancements, UBS maintains a clear boundary regarding automated advice. Magri emphasized that artificial intelligence does not generate investment recommendations; recommendations are based on the expertise of the advisors, and the final decision rests with the client. A purely data-driven approach has limitations, particularly for complex financial decisions like mortgage affordability or retirement planning, which depend on personal circumstances that cannot be fully captured by numbers alone.
The digitalization of UBS extends into the mortgage business, where digital notifications inform clients and advisors when a mortgage tranche is up for renewal. Clients can choose to handle the renewal online independently or seek personal consultation. According to Magri, clients wishing to continue their financing can complete a mortgage extension within five minutes from home, while internal processes are handled digitally.
In digital touchpoints and call centers, the UBS chatbot is now available to 1.8 million clients. If an issue cannot be resolved by the chatbot directly, it is transferred to a human employee along with a summary of the prior interaction, allowing the employee to continue where the client left off without requiring the client to repeat the problem. Magri stressed that the core value arises from connecting diverse systems and contact points rather than relying on isolated applications. Technically, the bank is combining and further developing existing applications while collaborating with external providers.
Initial pilot projects generated extremely positive feedback from both advisors and clients, with early indicators showing that client satisfaction in advisory meetings is increasing. UBS systematically surveys clients following advisory sessions to determine whether the new technologies meet expectations. Magri stated that the nationwide rollout is only the beginning, as ongoing technological development continuously unlocks new application possibilities built upon the existing infrastructure.
