What is the impact of Coronavirus on the financial Industry in Luxembourg? Are there any business and technological opportunities from the crisis that is disrupting our lives both personally and economically? Launched in January 2020 by the Luxembourg House of Financial Technology (LHoFT), four Fintech Task Forces, composed of industry experts and Fintech innovators, have started initiating projects to accelerate innovation in these key areas: banking, asset management, insurance and blockchain.

With the COVID19 crisis, the four Fintech Task Forces have continued to meet and work remotely, each Task Force identifying the top five impact of this pandemic on their respective areas of focus and pinpointing interesting opportunities that may arise.

“The crisis has brought a new perspective on how we work, collaborate and run our business. Home working, online collaboration and use of cloud solutions have been unthinkable within most banks. Now, more than 60% of the financial industry is working from home. All the usual excuses for not investing in new technologies, like risks or regulation, can’t be used anymore. Today, we have the perfect opportunity to push the digital transformation of our institutions further and to innovate even more because there’s no excuses for not doing it anymore”, Roger Krämer, Banking Task Force Chairman.


The report is available HERE.


Source: LHoFT

Publié le 27 avril 2020