Luxembourg: leading corporate strategies of financial sector with FinTechs 2016| ��ƽ��

How is the Luxembourg financial sector dealing with FinTechs?

Characteristic	Share of the respondents
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Source

Release date

April 2016

More information

Region

Luxembourg

Survey time period

2016

Number of respondents

36 respondents

Age group

18 years and older

Special properties

senior FS and FinTech executives in Luxembourg

Method of interview

Questionnaire

Supplementary notes

Fintech, or Financial Technology, is a collective term for businesses which try to reinvent financial services with a product or service built on technology. The term is usually applied to start-ups with activities in particular branches such as blockchain, robots and automated systems, mobile payments, money transfers, (micro)loans, fundraising, or asset management. Spanish bank Santander estimated in 2015 that blockchain technology, for example, could reduce banks' infrastructure costs by between 15 to 20 billion dollars per year.

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Citation formats

This statistic shows the answers to a survey question on the leading corporate strategies of the financial sector in Luxembourg with FinTechs in 2016. In 2016, approximately ** percent of the senior executives in the Luxembourg financial and FinTech sector indicated they launched their own FinTech subsidiaries. Approximately ** percent of the Luxembourg financial sector does not deal with FinTech. However, start-ups have another way of getting the capital they need. Of the Benelux countries, Luxembourg has the highest score when it comes to the availability of venture capital for start-up entrepreneurs.