Luxembourg bankers draw up FinTech Map

Luxembourg bankers draw up FinTech Map

The Luxembourg Bankers' Association (ABBL) has drawn up a 'Fintech Map' of the nation's startup ecosystem to help drive further collaboration with the established banking community.

Created by ABBL's Digital Banking and FinTech Innovation Cluster, the initiative is aimed at mapping and classifying various fintech firms, software vendors and IT providers for the local financial sector.

Andrey Martovoy, fintech adviser, ABBL: “This online directory results from the explicit demand coming from ABBL members. It provides basic information about fintech firms legally present and commercially active in Luxembourg regardless of their ownership type, size, age and other criteria. Moreover, the scope of the database goes beyond that.”

In addition to the directory of fintech firms and software vendors, the map outlines and categorises major stakeholders across a broad sweep of associated interests, including policymakers, media, marketing and startup funding.

Marc Hemmerling, general counsel digital banking, fintech & payments, ABBL says: “We believe that the fintech map will facilitate a higher degree of interactions among all actors dealing with fintech and technological innovation in financial services in Luxembourg and will contribute to the attractiveness of the Luxembourg’s fintech ecosystem in Europe and globally”.

Elsewhere on the European fintech scene, Berlin-based startup factory FinLeap has opened an office in Milan, creating a technical hub for software development and a showcase for its startup portfolio. Marco Berini, former head of group innovation at UniCredit will head up the venture.

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