This year’s phygital edition of ICT Spring ended with an official speech delivered by Pierre Gramegna, Minister of Finance, Government of Luxembourg. The organizers shared a video of the Minister at the end of the Fintech Summit, on September 16th.
“Fintech is about disruption. Actually, Fintechs are the champions of disruption. And as we are living in disrupted times with a virus that has disrupted all countries, Fintechs can therefore react well,” started Pierre Gramegna.
He then explained that the government of Luxembourg took full responsibility in fighting Covid-19 and assisting companies: “we played our role and absorbed the shock in the best possible way. Luxembourg was one of the countries with the most generous financial package to help the economy”.
The Minister of Finance also highlighted that most companies have been very agile in Luxembourg and have adjusted rapidly to the situation. “Companies are well organized and our IT network is very efficient. With all the employees working from home, the digital traffic was multiplied by IT. It all happened without any glitch, proving that investing in IT was worth it and very precious”. As explained by Pierre Gramegna, companies were extremely imaginative – the banking sector and financial services in general – and a lot can be done remotely. He added: “When the 2008 crisis hit, the banking and financial sectors were part of the problem, but now they are part of the solution: for instance, payment services continued to work perfectly and allowed e-commerce to flourish”. Pierre Gramegna also explained that he will continue to visit places and potential investors, “because Human contact is decisive”.
Finally, the underlined the importance of international cooperation: “the pandemic forced us to see new models. For instance, trade players are now looking more positively at Fintech”. He shared the example of the LHoFT which has been getting people together ever since its creation to develop a strong ecosystem. “The Tech community is inspiring and it always tries to build new networks. Players easily get to know each other and exchange”, concluded Pierre Gramegna.
Photo: Dominique Gaul, @ ICT Spring 2018
Publié le 22 septembre 2020