Changes in financial industry “only going to happen faster than before”

Home » Test Fit 4 Digital

07-10-2019

Disrupted by new technologies and agile fintech players (such as PayPal), the financial industry has no other choice than to innovate in order to survive. According to the PayPal CEO, innovation will definitively come through deep research in this field.

While visiting Luxembourg to launch the first public-private chair dedicated to digital financial services in partnership with the University of Luxembourg, Mr Schulman estimated that “the financial sector will change more in the next 5 years than it has done in the last 20”.

These changes are “only going to happen faster than before” as they are being pushed by 5G, the explosion of data available and the arrival of quantum computing that will be able to process massive amounts of data in record time. “All of that make this chair so important,” he added.

Trusted autonomous payments methods to be studied

“This chair is about interaction between the right players in technology, research and the financial industry,” explained Minister of Finance Pierre Gramegna.

The PayPal-FNR (Luxembourg National Research Fund) PEARL chair will explore the future of financial services. Professor Gilbert Fridgen, currently teaching at the University of Bayreuth (Germany), will lead it.

The fields of research will include the opportunities brought by blockchain, artificial intelligence and the Internet of Things in financial services, trusted autonomous payment methods and sustainable technology organisations in the business sector.

American VCs will be in Luxembourg in November for the Global Ventures Summit (GVS), a world-class event where high-profile VCs will meet strong start-up ventures who want to scale, and need both money and specialised knowledge to do so. Already well known in the United States, this is the first time ever this event is held in Europe.

Entering the Luxembourg market with ease

29-11-2023

In recent years, Luxembourg has emerged as a dynamic hub for innovation, boasting a robust ecosystem that encompasses a multitude of incubators, accelerators, specialised agencies, investors, and innovation hubs. This thriving ecosystem has played a pivotal role in nurturing and propelling numerous successful enterprises across diverse industries onto the global stage. Top executives leading some of Luxembourg’s key structures explain what the ecosystem offers and why this might just be the smartest and most cost-effective way for a soft-landing and to gain a foothold in foreign markets.
Read more

Pioneering “gamified neuroscience” for brain disorders

27-11-2023

Luxembourg-based company Myelin-H is developing a revolutionary software technology for the remote monitoring and management of neurological disorders. The company’s CEO, Zied Tayeb, sheds light on the company’s mission to make a difference and how a personal story sparked the conception of his startup.
Read more

Accessing the European healthtech market

22-11-2023

Healthtech solutions are subject to rather complex regulatory requirements guaranteeing health standards and protection in the EU. Luxembourg’s national innovation agency Luxinnovation manages a range of initiatives aimed at supporting healthtech companies from strategy development to European market access.
Read more

On the road to personalised medicine

20-11-2023

In 2008, the Luxembourg government launched its Sciences and Health Technologies Action Plan to diversify its economy, nurture health technology innovation and stimulate the shift towards personalised medicine. Fifteen years later, the country is home to internationally renowned biomedical research centres and a growing community of healthtech companies focusing, in particular, on digital health, digital medical devices and in vitro diagnostics.
Read more

Luxembourg’s rise to 2nd place in the IMD talent ranking

17-11-2023

In the 2023 IMD World Talent Ranking (WTR), Luxembourg moved up five spots to the second position. Its new ranking was influenced by its “strong performance” in the development of homegrown talents and access to an international talent pool.
Read more

All news