Copenhagen FinTech (CPH FINTECH) and The Luxembourg House of Financial Technologies (The LHoFT) have signed a Memorandum of Understanding ("MoU") in order to foster innovation in the Wealth Management and Insurance industry.
The two leading EU fintech hubs will collaborate on a number of initiatives to benefit from each other's ecosystems.
Copenhagen FinTech, the pre-eminent Fintech hub in the Nordics, has fostered a number of top-tier fintech firms in Wealth Management and Insurtech such as Matter Pension, Grandhood, Nord Investments, Anyware Solutions, Undo, and many others.
Luxembourg is the leading private banking centre in the EU and will become the leading finance centre in the EU post Brexit. The LHoFT’s partners, major banks and insurance companies in Luxembourg, are keen to access new innovations and to work with Fintech firms that can help them with their challenges and to address new opportunities.
The first step of the collaboration between the two hubs will be to organise cross centre delegations to expose each other's ecosystems to each other and facilitate innovators and financial actors to meet.
Simon Schou, Chief Innovation Officer at Copenhagen FinTech explained: “Luxembourg is a historically strong financial center and with the LHoFT they have also created a powerful and visionary organization which will lead Luxembourg into the future of Finance. We see great mutual potentials in building Fintech bridges between Luxembourg and Copenhagen and we look very much forward to collaborate and learn from our friends at the LHoFT”
Nasir Zubairi, CEO at the LHoFT added: “Fintech innovation in Denmark is very impressive. Luxembourg has developed incredibly quickly in terms of its own capabilities but also in terms of the demands of the traditional industry for new innovation, that needs to be met on a global scale, not just local. We are therefore very excited to be able to work with Copenhagen Fintech to enable mutual value for our ecosystems.”
The two hubs are also working extensively with the other European hubs within the Talent Route initiative, who aims at promoting the EU Fintech ecosystem.
Press release by the LHoFT
Publié le 19 mars 2019