The recently published draft law 7024 could be a reason to revisit your organisation's internal processes and IT landscape, as it brings forward additional flexibility for outsourcing models and related treatment of client confidential data.
We've surveyed several business leaders to see what kind of outsourcing strategies they have or are planning to put in place.
We've put together a concise survey of 25 questions structured in five different sections. We've sent the survey to CEOs and COOs of leading financial institutions and service providers in Luxembourg and received over 30 responses. After a thorough evaluation of the responses, we’re sharing with you the most significant findings on sourcing strategies in Luxembourg.
Regulated entities in Luxembourg that are already outsourcing or consider doing it for some of their activities.
Outsourcing activities are already considerable and they will probably further increase if the Bill passes, as it would facilitate the treatment of client identifying data (CID).
This element is often seen as a blocking point for transferring certain activities or IT systems to another service provider.
Overall, the Bill is rather seen as an opportunity rather than a threat.