FinTech companies use new technologies to launchfinancial services, which is where the name comes from. These booming start-ups are revolutionising the financial world and lately everyone is talking about them. There are 310 of them in Luxembourg. From now on they will all be listed and categorised.
The ’Association des banques et banquiers, Luxembourg - ABBL' (Luxembourg Bankers' Association) has just launched a website listing all the FinTech companies.
This online directory offers a map and list of FinTech companies, software suppliers and IT solutions for the financial services sector in Luxembourg. As well as this, it supplies basic information about FinTech companies based in the Grand Duchy. This service was set up by ABBL's 'Digital banking and FinTech innovation cluster'.
More visibility for the FinTech ecosystem
The main actors in the FinTech ecosystem in Luxembourg are categorised as follows: Government authorities, Promotion of professional interests, Education and training, Support and financing for start-ups and existing companies, Research and development, Media and events organisation.
'The FinTech map will bring enhanced interaction between actors operating in the field of FinTech and technological innovation in financial services in the Grand Duchy' according to Marc Hemmerling, General Counsel of Digital Banking & FinTech (ABBL). The internet registry includes renowned establishments like Paypal, start-ups and government initiatives like Digital Lëtzebuerg and the Luxembourg House of Financial Technology (Lhoft).
This house of start-ups specialising in finance technologies was inaugurated last April in Kirchberg, with the role of contributing to the attractiveness of a favourable ecosystem in Europe and worldwide, while hosting new start-ups that are beneficial to the financial centre.
(Article written by the editorial team of the luxembourg.lu portal)