The Luxembourg internationalized banking sector offers an unparalleled range of services and world-class financial infrastructure. As a global financial hub, Luxembourg has remained resilient and competitive, even in an increasingly complex regulatory environment.
But with new compliance challenges stemming from PSD2, Luxembourg’s banks need to reflect on their banking software, business strategy, and how they will operate in a world of open banking. A combination of changing consumer preferences and competition from fintech startups creates market pressure on Luxembourg banks to develop their digital capabilities.
According to Deloitte, Luxembourg is behind other countries in Europe in terms of digital banking maturity. Classified as a digital adopter, Luxembourg’s banks are still focused on transferring their existing services to digital while their competitors are creating financial and service ecosystems around their banking platforms and capturing market share.
Luxembourg is a digital adopter. Source: Deloitte
Digital latecomers in Luxembourg will need to move beyond their status quo and build their banking platforms or risk falling behind more digitally mature incumbents and fintechs. Given the investment necessary to develop a digital banking platform from scratch, many players decide to adapt existing solutions to their needs. You can find out more about what it takes to build a digital bank like Revolut in our previous article.
Companies like Sopra banking have been providing custom or ready-to-use banking platforms to help accelerate digital transformation for many clients worldwide. Many more worthy next-generation companies are helping banks develop modern digital banking software in Luxembourg. SDK.finance and their core banking platform has been particularly successful at leveraging advanced tools to help financial institutions modernize their services quickly and easily.
As entrants with stronger digital competencies begin to enter new markets, incumbents could be set for a shake-up as customer preferences evolve, and competition increases. Collaboration between incumbents and specialized fintechs can address these digitalization pressures and lead the way to the future of banking.
Global core banking software providers like SDK.finance can help banks in Luxembourg reach a broader market with modern solutions faster, cheaper, and more efficiently. The digital retail banking software is available in all popular formats: web, iOS, and Android applications that help to reach the new generation of mobile customers quicker.
Not to mention that the company is offering a 1-Year payment deferral for all companies with financial licenses issued by any country of the European Union to help minimize the negative economic impact of the global COVID-19 outbreak.
SDK.finance provides technology and supports banks of all kinds at every stage of the digital transformation from market research to product launch and scaling. Banking customers can benefit from a modern and secure experience guaranteed by two-factor authentication, biometric checks, security notifications, and Strong Customer Authorization for payments.
The Platform consists of 5 main components: a back-end wrapped in 400+ API endpoints, 3 front-end frameworks, and a web for system management with capabilities in iOS and Android for our clients.
Advantages of software that is built on API-first architecture:
- The speed of releasing new features and functionality is much faster
- The cost of ownership is more economical
- Fewer bugs and more stable products exist
- Better flexibility, scalability, and features are just some of the advantages of the SDK.finance core banking software ready for Luxembourg banking.
Click here to find out more about the Luxembourg banking software solution and how it can help your business unlock new opportunities.
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Australian FinTech – Connecting the Australian FinTech industry to the world
“SilverRail Technologies is disrupting to the transport industry and we see the impact when entrepreneurs bring a new model to market. The guys at Australian FinTech are close to the dynamics of the finance space, keeping an eye on the next disruption.”
INTERNATIONAL KEYNOTE SPEAKER, AUTHOR, INFLUENCER, CREATOR OF EMOTIONAL BANKING™, FOUNDER and CEO of PeopleNotTech
Duena is the author of the book “Emotional Banking: Fixing Culture, Leveraging FinTech and Transforming Retail Banks into Brands”. She is a serial entrepreneur and intrapreneur, a mentor for start-ups, a LinkedIn Top Voice, named an industry influencer in most lists, a Forbes contributor, a blogger with cutting-edge, unconventional and unapologetic opinion style, an international keynote speaker at industry events, the inventor of the EmotionalBanking™ and MoneyMoments concepts and the Co-Founder and CEO of PeopleNotTech Ltd – a software solution provider revolutionizing the organizations of companies that need to use technology and new ways of work focused on the concept of Psychological Safety in high performing teams.
Over the past 18 years, Duena has worked with multiple large organizations in particular banks, be it to assist them in their digital strategy or to help them transform. With a background in Psychology as well as Business, Duena is on a crusade to see
Duena delivers different, entertaining, engaging and thought-provoking keynotes internationally and occasionally leads panels and fireside chats on topics ranging from FinTech, Digital, CX and Innovation to the bigger themes of the Future of Work, Technology, Psychological Safety and Agile as they reflect in Employees Engagement and Organizational Psychology and Design and has a strong following of 200k+ subscribers and followers on Twitter and LinkedIn.
LATEST BLOG POSTS
“Duena always has new, fresh and thought provoking content!”
“We had Duena as our Keynote Speaker twice – there was never a bored face in the audience and the feedback reflected that”
“Duena was a keynote speaker at our annual conference and our audience loved her! Both Duena and her team are the utmost professionals and it was a pleasure to deal with them for the preparation of her visit“
“Both chairing a panel and as a keynote speaker, Duena has delivered. Delegates came interested and left fascinated. Looking forward to working together again.”
“Our board had executive briefing fatigue and we searched for the most innovative content and most comprehensive expertise packaged in a dynamic way which is what we found with Duena Blomstrom’s presentation.”
TOPICS DUENA SPEAKS ABOUT
BANKING AND FINTECH:
- “How to put Emotion back in Banking and create true Money Moments™”
- “Emotional Banking™- Financial institutions need to investigate customers’ feelings about their money and they need to do it NOW”
- “FinTech – not the cure-all it says on the box”
- ”Everyone is a Challenger when you’re a bank” – GAFA, digital experiences, Open banking and the unhappy consumer
FUTURE OF WORK AND TECHNOLOGY:
- “#VUCA is here: will you bend and win or break and vanish?”
- “Psychological Safety – Silicon Valley’s Secret Sauce”
- “Team = Family. Psychologically Safe teams can make magic and move mountains together.”
- “Servant Leadership and The Emotionally Intelligent Leader”
- “What are you afraid of? – Impression Management and the fear of appearing incompetent, intrusive, negative or ignorant stops us from being courageous and speaking up at work”
- “DevOps is the future of HR”
- “Wake up or rest in peace” – Companies winning today use technology and work in different new ways that make them money and their employees happy. Everyone else is still in the 60s structure of paper-pushing offices. Change or face extinction.
- “You can’t have the WoW without the WoT – Succeed with Agile only if you change mentalities”
- “Agile as a religion not a re-org exercise”;
- “Technology is meaningless and customer-centricity dead without Agile”
- “Digital Excellence and Innovation – It’s all about the People, not the Tech”
- “Agile from the heart not a consultancy PowerPoint”
- “Knowledge, Passion, and Courage – Sine qua non conditions to utilizing Tech and making your Digital customers happy”
- “Time to ditch Agile “transformations”
BANKING: MONEY 20/20: https://youtu.be/TzNq5AS4ems
FUTURE OF WORK: SIBOS Future of Work Panel: https://www.youtube.com/watch?v=IC0YI8mQSlM&feature=youtu.be&fbclid=IwAR00JUGgWGhfm1effIBCj2TR3vhCQQVCREZQjYux0RNRa-3aVLPYSafQZu8
BANKING: Design and EMOTIONAL BANKING: https://www.youtube.com/watch?v=h8o9yJ3InYU
AGILE AND PEOPLE
Fireside chat about People and Security: https://ytcropper.com/cropped/rR5c0a64d960449
Interview about Emotional Banking:
BBC Interview: https://drive.google.com/file/d/1d9aTwXlKEZbjjXsLwXeGVXg4VgvpqYnX/view?usp=sharingLatest Breaking Banks: Minute 19:50 to 43:23 – https://drive.google.com/file/d/1z6VD0z1g2NXf11gz8Qx8rhwolypXJWl3/view?usp=sharing
To have Duena delight your audience email BOOKINGS@DUENABLOMSTROM.COM
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