On Thursday 19 October, the National Centre of Excellence in Research in Financial Technologies (NCER-FinTech) held its first Event “Ignite the Community” in the presence of all participating researchers from the Interdisciplinary Centre for Security, Reliability and Trust (SnT) and the Faculty of Law, Economics and Finance (FDEF) at the University of Luxembourg, as well as special guests from the finance industry.
The NCER-FT, awarded in March 2023 by Luxembourg’s National Research Fund (FNR), aims to strengthen the nation’s financial hub status, by attracting talent and fostering world-class research and education in finance, aligning with Luxembourg’s commitment to innovation in the sector.
During the presentation, Prof. Yves Le Traon, vice director of SnT showcased the key achievements from the first six months of the project, with a specific focus on laying down the foundation for the NCER FinTech and building a cohesive culture, while simultaneously launching all projects. The goal is to ensure both immediate and long-term impact in the sector, focusing on measurable research outputs such as publications, academic and industry careers, intellectual property, and spin-off companies.
Newly announced principal investigator of the project, Prof. Gilbert Fridgen, who also serves as head of the Digital Financial Services and Cross-Organisational Digital Transformations (FINATRAX) research group at SnT, shared his vision about the NCER FinTech. “With Luxembourg being a hub of financial activities, interdisciplinary research on FinTech is of strategic importance to the country. We bring together disciplines because the greatest advancements are made at the margins.”
First guest of the event, Andrey Martovoy, innovation and digital advisor at ABBL, conveyed the challenges of the Luxembourg banking sector through the industry’s perspective. He explained the top recommendations made by banks and FinTechs to researchers, as well as ABBL’s strategic areas in digital transformation, which seamlessly align with the vision of the NCER FinTech. Innovation comes as a new driver and priority, as Martovoy shared, “According to a recent study conducted by ABBL and PwC, 81% of corporate banks in Luxembourg stated that innovation will be a greater means than cost restructuring (46%) to achieve competitive advantage.”
In addition, Antoni Martini, head of education and talent at the LHoFT, walked the audience through the story of a European Leading Innovation Hub, with common and complementary grounds toward the NCER FinTech, including enhancing education, fostering talents, and creating multipliers as an ecosystem, a strength of the LHoFT.
The event closed out with session of projects presentations by researchers, showcasing the advancements and opportunities from the last six months for the industry, facilitated by Veronique Schlick, programme manager of the NCER.
L-R: Antony Martini (LhoFT), Prof. Gilbert Fridgen (SnT), Veronique Schlick (SnT), Andrey Martovoy (ABBL).