On November 15th, during the 10th anniversary of the Luxembourg Finance Innovation Summit, the LHoFT (Luxembourg House of Financial Technology) was recognized with the "Outstanding Contribution to the Luxembourg Financial Centre" award. We met with its CEO, Nasir Zubairi, to discuss the dynamism of the Luxembourg Fintech ecosystem and the upcoming trends in the financial services industry.
With the LHoFT being 2 years old, what are your milestones and biggest success so far?
Key milestones over the past two years have included the move to our new facility at the House of Startups in April 2018, the on-boarding of our 100th fellow member this past week and the filling of all the office spaces at the new facility that happened incredibly fast. From a community perspective, the attendance at the Paris Fintech Forum on January 2018 with a large delegation of the Luxembourg ecosystem was a real testimony for the growth of Luxembourg Fintech. Of course, being awarded "Outstanding Contribution to the Luxembourg Financial Centre" alongside awards for "Workplace Design" and Manon Loison's "Young Marcom Talent" are fantastic recognition by the Luxembourg community for all the hard work the LHoFT team put in. We thank all for their support as we could not do what we do without the collaboration of so many in Luxembourg.
Can you tell us more about the Catapult program? When was it launched?
CATAPULT: Inclusion Africa is a program of startup development, designed by the LHoFT Foundation. The program targets FinTech companies that have the goal of increasing financial inclusion across the African continent, and serves to build bridges for business between Africa and Europe. The 1st edition of the program concluded successfully on November 9th with a final pitch session and networking event, gathering the Luxembourg Microfinance and Fintech Community. The 11 companies delivered a final pitch, leveraging all input from the partners, experts and mentors garnered over the course of the week.
We've heard about FinTech, RegTech, InsurTech…what's the next tech to transform the world of finance?
To quote some friends of mine at 11:FS in the UK, "Digital financial services is only 1% done". All these areas still have much to exploit and really don't stand still, constantly evolving as new technologies enter our vision and customer behaviours change. I think one area that the world of finance is beginning to really open its eyes to is the power of data and, in consequence, the importance of cybersecurity. 2017 the talk was all blockchain, 2018 it has been AI. I can imagine we will hear a lot more about cybersecurity in 2019 to supplement the other technologies that the industry is looking at.
How would you describe the Luxembourg FinTech ecosystem? What are its main strengths? How could be it be improved?
The Fintech Ecosystem in Luxembourg is exciting, vibrant, and growing fast! There is so much enthusiasm from all sectors of the community, backed by genuine engagement and action from all the stakeholders, including government and the regulator. The LHoFT mission is to act as a catalyst to drive Fintech innovation forward and our active board of directors, led by Minister of Finance, Pierre Gramegna, are representative of how people are coming together to collaborate and make things happen. The access to key decision makers in Luxembourg is unlike that of any business centre I have experienced.
Publié le 10 décembre 2018