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Disrupted by new technologies and agile fintech players (such as PayPal), the financial industry has no other choice than to innovate in order to survive. According to the PayPal CEO, innovation will definitively come through deep research in this field.

While visiting Luxembourg to launch the first public-private chair dedicated to digital financial services in partnership with the University of Luxembourg, Mr Schulman estimated that “the financial sector will change more in the next 5 years than it has done in the last 20”.

These changes are “only going to happen faster than before” as they are being pushed by 5G, the explosion of data available and the arrival of quantum computing that will be able to process massive amounts of data in record time. “All of that make this chair so important,” he added.

Trusted autonomous payments methods to be studied

“This chair is about interaction between the right players in technology, research and the financial industry,” explained Minister of Finance Pierre Gramegna.

The PayPal-FNR (Luxembourg National Research Fund) PEARL chair will explore the future of financial services. Professor Gilbert Fridgen, currently teaching at the University of Bayreuth (Germany), will lead it.

The fields of research will include the opportunities brought by blockchain, artificial intelligence and the Internet of Things in financial services, trusted autonomous payment methods and sustainable technology organisations in the business sector.

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Entering the metaverse market

02-02-2023

Often considered as the next iteration of the internet, the metaverse is expected to play a key role in the digital transformation of the economy. But is it just hype, or a trend with real substance? We spoke to Arnaud Lambert, Director Digital Transformation, and Sara Bouchon, Director Market Intelligence at Luxinnovation, to find out more.
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Launch of the Humanitarian Innovation Accelerator call for projects

01-02-2023

From today on, the call for projects of the Humanitarian Innovation Accelerator (HIA) will be open to national and international applications in order to promote innovative solutions in support of the global humanitarian sector. Applications can be submitted until 1 March 2023.
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“Break down the diversity barriers”

30-01-2023

Opening a first European office is a big step for many international companies that do not only need to handle business aspects, but also cultural and linguistical challenges. Toshihiko “Toby” Otsuka, CEO of Rakuten Europe, shares how this Japanese company managed to overcome such barriers when establishing its European headquarters in Luxembourg.
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“Revalidate your assumptions”

23-01-2023

Argentine digital health company ViewMind opened its European office in Luxembourg a few years ago. Mark Edwards, CEO, and Matias Shulz, COO of ViewMind, share their insights into key points to keep in mind for international companies that target the European market.
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People and partnerships key to success

16-01-2023

In late 2017, San Francisco-based global space-based data, analytics and space services provider Spire opened its Luxembourg office to increase its European footprint. We spoke to John Lusk, COO of Spire Maritime, about what he sees as the main success factors and pitfalls to be avoided for international companies expanding to Europe.
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