Zurich, August 17, 2022 – UBS today announced it has invested in BigPanda, a leading artificial intelligence IT operations (AIOps) platform, through UBS Next, the firm’s strategic venture and innovation unit. As clients increasingly seek more digital services and business becomes more data driven, UBS is actively engaging the financial technology community and investing in companies with game-changing technologies to shape the future of banking for clients.
Leveraging machine learning to predict, detect and respond to incidents within complex IT systems, BigPanda’s platform helps automate incident management processes to ensure systems stay up and running. As a result, the platform helps companies reduce costs, enhance service availability, increase transparency and improve the speed of IT operations.
“We’re excited to build on our relationship with BigPanda through this investment, helping drive digital disruption and innovation in AIOps,” said Mike Dargan, UBS Group Chief Digital and Information Officer. “By increasing transparency and leveraging technology to automate key processes, companies can reduce downtime and focus on developing new products and services for clients.”
“As companies increase their dependance on technology as an enabler and differentiator, and ultimately change how they deliver their products and services to clients, it has become even more important for them to ensure their IT operations platforms run smoothly,” said Assaf Resnick, CEO and co-founder of BigPanda. “UBS is an early adopter of AIOps in the financial services industry and similarly sees the power emerging technology can have on their operations to deliver a best-in-class client experience.”
UBS Next invests in and partners with early-stage fintech and tech start-ups through its $200 million portfolio and runs an incubator for innovation projects to convert ideas into viable businesses. The unit is responsible for enabling innovation across UBS to find new and effective ways to engage clients and deliver premier services using the latest technologies.
About UBS
UBS convenes the global ecosystem for investing, where people and ideas are connected and opportunities brought to life, and provides financial advice and solutions to wealthy, institutional and corporate clients worldwide, as well as to private clients in Switzerland. UBS offers investment solutions, products and impactful thought leadership, is a leading global wealth manager, provides large-scale and diversified asset management, focused investment banking capabilities, and personal and corporate banking services in Switzerland. The firm focuses on businesses that have a strong competitive position in their target markets, are capital efficient and have an attractive long-term structural growth or profitability outlook. UBS is present in all major financial centers worldwide. It has offices in more than 50 regions and locations, with about 30% of its employees working in the Americas, 30% in Switzerland, 19% in the rest of Europe, the Middle East and Africa and 21% in Asia Pacific. UBS Group AG employs more than 72,000 people around the world. Its shares are listed on the SIX Swiss Exchange and the New York Stock Exchange (NYSE).
About BigPanda
BigPanda keeps businesses running with AIOps that transform IT data into insight and action. With BigPanda’s AIOps platform, businesses prevent IT outages, improve incident management and deliver extraordinary customer experiences. Without BigPanda, IT Ops, NOC, and DevOps teams struggle with a tsunami of data and highly-manual, reactive incident response processes that are poorly suited for the scale, complexity and velocity of modern IT environments. This results in painful outages, unhappy customers, growing IT headcount and the inability to focus on innovation.
BigPanda’s AIOps Event Correlation and Automation platform helps Fortune 5000 enterprises such as Intel, Cisco, United, Abbott, Marriott and Expedia take a giant step towards Autonomous IT Operations. BigPanda is backed by Advent International, Insight Partners, Sequoia Capital, Mayfield, Battery Ventures, Glynn Capital, Mayfield, Greenfield Partners and Pelion.
