UBS is to offer private banking services to non-Swiss residents over the German Internet portal T-Online.
Gabriela Payer Fruithof, UBS Switzerland's head of e-channels and products, says the bank's presence on T-Online will help raise its profile among private clients all over Europe. "Our presence on T-Online will allow us to give an entirely new audience access to our products and services," she says.
The portal, operated by Europe's largest Internet service provider, claims to cover over 50 per cent of all German-speaking Internet users.
Fruithof claims UBS's new German Internet venture is aimed at clients domiciled outside Switzerland. The bank's pages on T-Online include information on its domestic private banking services in Germany. The Swiss bank is also providing a feed of stock exchange and financial market information via its UBS Quotes product. Clients who wish to invest in Switzerland are invited to access the UBS e-banking platform directly.
The bank says it plans to extend this partnership with T-Online to other projects.