FinTechStage Luxembourg

FinTechStage is a conference that brings together innovators interested in driving entrepreneurship and investment in FinTech. It has taken place in several cities including Buenos Aires, Barcelona and Milan.

Luxembourg is an attractive hub for the development of innovative finance services; FinTechStage is a great opportunity for idea sharing, content delivery and networking around trends in digitalisation of financial technology. Blockchain, big data, digital distribution, cybersecurity are main topics in the agenda.

Date & location

Organised by Luxembourg for Finance and sponsored by PwC Luxembourg and other organisations, the event will take place on 18 February 2016 at the Cercle Cité Luxembourg, 2 rue Genistre L-1623.


 

PwC's publications on FinTech

We see three trends related to blockchain that we believe will be important in 2016: incumbents focus on protecting their intellectual property as they explore new collaborative opportunities with customers, suppliers, and competitors; large financial institutions will need strategic plans to set parameters for technology risk taking; and market participants will start to develop the processes that surround the transactional layer.




At a very high level, the blockchain is a decentralised ledger, or list, of all transactions across a peer-to-peer network. This is the technology underlying Bitcoin and other cryptocurrencies, and it has the potential to disrupt a wide variety of business processes.




Since 2007, our unique research has asked one simple question: What actions can leaders take to confirm their digital investments deliver and sustain value? To get to the answer, we study the practices and performance of global companies, drawn from the experience of nearly 2,000 business and technology executives.




What are the potential benefits for banks and marketplace lenders to partner up?




The consumer finance market is transforming as a result of innovative lenders that are reshaping business models, underwriting criteria, and customer experiences. These pioneers are leveraging advanced analytics and big data to gain insights to fuel growth. Their innovations are customer centric - reflecting an understanding of demographic changes, borrower needs, and how to connect to borrowers through social media channels.




Consumers are hungry for a simplified, streamlined lending process, and peer-to-peer companies are capitalising on this need - creating a loyal and growing following. It's this recent growth, and future growth potential, that has banks taking notice, Peer-to peer lending has already begun its expansion beyond simple loans largely used by consumers to consolidate credit card debt. Auto loans and mortgages - once the territory of "traditional lenders" - are now part of some trailblazing peer-to-peer lending platforms' offerings.




When it comes to the development of digital services, banks in Western Europe have neglected the needs of small and medium-sized enterprises (SMEs). If they are to beat back competition from upstart technology competitors, banks must develop higher levels of personalisation, enhanced opportunities for SMEs to access financing online, and roll out true multichannel offerings. The results will be efficiencies that lead to lower costs and increases in customer satisfaction and loyalty.




Electronic payments have essentially become a commodity for financial institutions, and most recent innovation has come from new market entrants, which are capitalizing on mobile platforms, social media and other technology. Financial institutions can capture this opportunity as well, provided they can leverage the wealth of data they control.




In the U.S. and Europe, financial technology (FinTech) "ecosystems" have stimulated technological innovation, made financial markets and systems more efficient, and improved the overall customer experience.