With each groundbreaking innovation, players must adapt to survive. The banking sector is no exception to the theory of evolution. The financial crisis and new technologies have reshaped banking activities and models. Two factors are at play: prudential financial regulation and the digital revolution. With this new context, the question is towards what models will the Luxembourg banks move? Watch our Banking Day video
Luxembourg's banking landscape is changing. The end of banking secrecy, new customers, digital channels and the emergence of young innovative companies specialised in financial technologies are a few examples of this mutation. Added to this is a regulatory framework leading to a sustained operational reorganisation.
It is now time for the industry to chart its new destiny by taking advantage of technological developments to reshape its business model and meet the needs of 'new generation' customers.