Singapore’s Minister for Digital Development and Information Josephine Teo has visited UBS’s AI & Transformation Factory at 9 Penang Road, the bank’s first and largest such site globally, which develops and scales AI solutions across markets.
UBS says Singapore was a “natural choice” for the hub, citing the city state’s role as a strategic regional base and global leader in AI adoption. The facility is purpose-built to accelerate digital transformation through co-located, cross-functional teams.
During the visit, Teo viewed product demos, including a Singapore pilot of UBS’s global multi-agentic system for periodic KYC reviews and source-of-wealth corroboration, aimed at boosting adviser productivity and client-facing time.
“We are shaping the future of wealth management, with innovation at the core," says Iqbal Khan, Co-President Global Wealth Management and President Asia Pacific, UBS.
"The AI initiatives developed at our AI & Transformation Factories will be a game changer where human expertise and AI intelligence co-deliver better outcomes for our clients.
"APAC is a key growth engine for UBS and AI enables our clients and advisors to focus on the activities they value most highly and achieve more with confidence,” he adds.
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Mike Dargan, group chief operations and technology officer at UBS says, “We are well on our way to becoming an AI-enabled firm with large-scale transformative Big Rock AI initiatives enabling us to unlock the full potential of AI and drive impact for our clients.
"Our team at the UBS AI & Transformation Factory in Singapore is playing a pivotal role as we embrace AI technologies and tools that will transform our business.”
UBS is a primary member of Project Mindforge, a Singapore Monetary Authority of Singapore (MAS) initiative, and part of the consortium developing one of the world's first AI risk governance handbook.
UBS is rolling out access to M365 Copilot across the firm, the largest implementation planned within financial services industry, and has already undertaken a large scale roll out of its own proprietary purpose-built in-house AI Assistant, RED.
Young Jin Yee, Singapore country head and co-head global wealth management, Asia Pacific, says UBS is “building future-ready talent through AI training, graduate programmes, and industry partnerships,” noting more than half of the Singapore factory’s employees came from non-tech functions.
The bank has created an ecosystem of over 700 AI Champions and 100 AI Ambassadors to support adoption across the firm for greater personalisation, speed and insight in wealth offerings.
Since 2025, summer interns and graduate trainees have joined the Singapore factory, while the bank launched its first 12-month Polytechnic Graduate Program with support from the Institute of Banking & Finance in June 2025.
