embotech GmbH has received one of eight accelerator prizes in the UBS Future of Finance Challenge to develop fast portfolio optimization software for a variety of investment banking and wealth management applications.
There competition had more than 620 entries with four regional finals held in Zurich, London, Singapore and New York. embotech advanced to the global finals, which were held in Zurich on December 10 with the top 12 contestants.
The winner of the competition is Aesthetic Integration, a London based startup using formal verification methods to identify unfair or non-compliant behavior in financial algorithms. See also this article from startupticker.ch.
From left to right: Sergio Ermotti (CEO UBS), Alexander Domahidi (Co-founder embotech), Juan Jerez (co-founder embotech), Oliver Bussmann (CIO UBS)