When we talk about the advent of a cashless society, Sweden is one of the countries that should come to mind first. Indeed, Sweden has always been at the forefront of technological progress. Sweden's culture of innovation coupled with the nation's high-quality of life have played a paramount role in the transition to alternative payment methods. But, if the society is becoming more and more paperless, cash will not disappear completely.
Bank of Israel, European Central Bank (ECB), Bank of International Settlement (BIS)… In recent months, announcements of projects, studies, research on digital currency have multiplied. With the proliferation of dematerialized payments - a trend accentuated by the Covid crisis - and the rise of cryptocurrencies and stablecoins, central banks around the world are increasingly considering creating digital currencies (CBDC, for “central bank digital currency”). Even before the pandemic, in 2019, Facebook's project to create a virtual currency, now called the diem, created an electric shock.
A current overview of one of the hottest sector in Fintech.
The investigation phase of the digital euro project will last 24 months. Its design will be based on users’ preferences and technical advice.
As part of a new edition of ICT Spring (September 14th and 15th), the renowned global tech conference organized since 2010, Mastermind Summit & Competition will take place on September 15th at the European Conference Center Luxembourg. This event - dedicated to the startup ecosystem - aims to promote and spread best practices, foster emulation between entrepreneurs and VCs and offer recognition to the best international startups of the ecosystem. Mastermind is composed of a 1-day conference and a startup competition where three key categories will be represented: FinTech, DeepTech and NewSpace.
End of June 2021, Banque Raiffeisen has launched its own mobile payment App ‘Raiffeisen Payconiq”, enabling its customers to both make peer-to-peer transfers and to pay their utility bills, in shops and remotely with Luxembourg’s leading mobile payment network, Digicash by Payconiq.
UBS is looking for innovative and potentially disruptive technology products and solutions.
Banking Circle B2B payments platform adds value to innovative cross border PSP proposition. Full-service Payment Service Provider (PSP) of local epayment solutions, Paymaster24, has selected Luxembourg based Banking Circle to enhance its service proposition for merchants. Crucially, the partnership with Banking Circle will help Paymaster 24 speed up payments and offer additional currencies to its merchant customers.
Fintech company A352 has developed the Financial Navigator - a cloud-based software solution to simplify and optimize financial management of Mid-Caps and SMEs. The solution is a hybrid of Treasury Management and Corporate Performance Management Solutions which creates transparency and reduces risk exposure for its clients. A352’s clients can connect all existing bank accounts to manage their cash centrally and reliably.
SimCorp, a leading provider of integrated, front-to-back, multi-asset investment management solutions and services to the world’s largest buy-side institutions, announces June 30th that LGT Capital Partners, a global specialist in alternative investing, with USD 75 billion in global assets under management, has signed a large agreement with SimCorp.