The world's largest wealth manager has signed a multi-year technology partnership with a US firm.

UBS has signed a $300 million agreement with EPAM Systems, a provider of product development and software engineering, to support the Swiss lender’s cost-cutting plans.

The bank and New York-listed EPAM have worked together for the past nine years.

Innovation will be a large focus throughout this multi-year deal, EPAM and UBS said in a statement.

"Over the past nine years, EPAM has become a key supplier in helping us meet our clients' expectations by working closely together with UBS, while maintaining commitments to productivity and quality of delivery," Mike Dargan, group head of information technology, UBS, said.

EPAM serves clients in more than 25 countries across North America, Europe, Asia and Australia.