Digitalisation will be one of the main priorities for the financial centre over the next five years, in what is likely to be the start of a new era in financial services. Luxembourg aims to position its financial industry as a leader in digital financial services.
With over 140 banks, more than 2,000 ICT firms and Europe's largest hub for investment funds, the Luxembourg financial centre represents a significant market for FinTech companies. Its vibrant ecosystem of financial institutions, technology companies, R&D centres, and a highly diversified and specialised economy, make it an emerging FinTech innovation hub.
The country already provides factual support to innovation by encouraging private and public funding, and by building up a true start-up support ecosystem. Many start-ups and technology companies (including, among others: Amazon, eBay, PayPal) have chosen Luxembourg to develop solutions around a wide range of FinTech activities: from compliance and risk-management, through blockchain and cryptocurrency, security and authentication, automated investment services, Big Data analytics, to mobile and e-payments.