A place where bankers meet FinTech founders (episode 2)

The ABBL begins the New Year with making one of its 2023 resolution a reality – Creating a context for accelerating digitalisation.

On 11 January, the ABBL organised a speed meeting event bringing together chief executive officers of banks and founders of financial technology (FinTech) firms. The event hosted by Banque Internationale à Luxembourg (BIL) and conducted in presence of H.E. Yuriko Backes, Luxembourg's Minister of Finance, and Guy Hoffmann, ABBL Chairman, created a unique atmosphere for 70 senior bankers and FinTech professionals enabling them to meet each other in person, interact, and explore new opportunities.

The ABBL is thankful to the Luxembourg House of Financial Technology for the cooperation on this initiative of ABBL’s FinTech and Innovation Forum.

A special thanks goes to all banks’ CEOs and FinTech founders for joining this event and making it a success. We hope that opportunities for cooperation explored during speed-meetings will pave the way for promising digitalisation projects shaping the future of the Luxembourg's financial industry!

* What did you think about this ABBL initiative?

Very much appreciated! For one, it is always a pleasure to exchange between peers and the FinTech community. As the traditional value chain of financial servicing is changing, as banks all have pressure on revenues and are facing increased regulatory cost, we need to adjust and open ourselves to partnerships. Giving the opportunity to meet a large number of actors, covering very different areas, in a short period of time and in a well-structured manner has been a great initiative of the ABBL. I think this needs to be repeated on a regular basis.

* What opportunities or connections did you make at the event that you are excited about?

On a personal level, meeting entrepreneurs, that are passionate about their company and project is extremely gratifying and a source for inspiration. It is exhilarating to see that many of these entrepreneurs have solutions that can help us, pure players in wealth management, enhance our organisation and client servicing. Solid B2B networking is one of the main pillars of Luxembourg’s success and this event was a fine example for this. 

* What's next, how do you plan to follow up on these opportunities?

We will follow up in dedicated meetings with the concerned firms, and involving our group network, be it our EU branches, or our Swiss parent company. As we are on the verge of major infrastructural and strategic changes, I am confident that we can put newly established contacts to good use.

* How do you view the ABBL initiative to connect financial market players with Fintechs? 

The fact that the ABBL takes the initiative to organize this kind of events, and that decision takers from financial institutions really show up and engage, is a confirmation of the need of this collaboration and the willingness to act upon it. 

* Anything surprised you or got particularly your interest during the evening? 

The format of an 8-minute conversation seemed very limiting, but as the time was very short the discussion was very focused, and the attention of *both* the interlocutors was undivided. The extent to which the CEOs were well prepared, open to exploration and reflection, and really tried to project themselves in a cooperation was very refreshing. 

* What's next, how do you plan to follow up on these contacts and opportunities? 

In the 6 introductory discussions, it was the bankers who concluded 6 times that we should meet soon to explore how our secure instant messenger helps solving specific needs that were identified. Let’s debrief in a couple of months how far this went!