UBS launches Internet recommendation service for the rich
UBS is launching an online wealth management recommendation service called Ynome, according to the Handelszeitung.
On Ynome.com, wealthy people can share their experiences with (private) banks, roboadvisors, asset managers or hedge funds and have them evaluated. The Ynome algorithm then determines the most suitable wealth banks for the users. Although the crowdsourcing service Ynome was developed in the Zurich innovation lab of UBS Wealth Management. However, Ynome co-founder Dave Bruno emphasizes that the crowdsource service operates completely independently of the big bank and adds: "In one to two years, we want to break away from the business angel UBS and become an independent company.
