Summer arrived in Luxembourg a few weeks ago and this year it seems it wants to stay with us for a while. The jaw-dropping high temperatures, the dry lawns and the terraces of cafés full with people enjoying their refreshments are proof of that. In parallel, the city’s streets are …
Yes, we are moving more and more towards a cashless society. But what does that mean for banks? Underneath the shift to cashless lies a larger, more profound change. Not only are traditional ways of paying for goods and services — including the humble paper check and analogue invoices — …
Ah, innovation. At its core, it’s all about solving problems. That’s why the saying “necessity is the mother of invention” couldn’t be truer. Every day, both in our personal and professional lives, we encounter hurdles, and sometimes, in our moment of despair, we come up with ideas to solve them. …
What do Pride month, #MeToo, #MenToo and Black Lives Matter have in common? All of these movements, although having very different backgrounds, deal in some way or another with discrimination and are challenging the societal norms in which we live in. The constant flare-up of these movements, as well as …
Have you heard about the growing focus of the Luxembourg tax authorities (LTAs) on the value added tax (VAT) and transfer pricing (TP) positions of Luxembourg’s taxpayers? In fact, the global trend is for tax authorities to require more and more information about the local and cross-border intragroup transactions to …
One of a pair of twin brothers dies. When a foolish student runs into the surviving twin, he asks, “Did you die, or was it your brother?” This joke comes from the Philogelos, the oldest existing collection of jokes, written 1,600 years ago. Most of them are quite childish or …
Today, the entire banking sector represents half of Luxembourg’s financial services market. However, between 2010 and 2020, the number of banks operating in Luxembourg decreased from 147 to 128, which translated into a decline in net results from EUR 3.8mn to EUR 3m. Yet, when looking at the corporate banking …
The recent evolution of the regulatory and tax landscape as well as the considerable growth of various industries like alternative investment is imposing a reorganisation of several players. Going forward, we believe that delegation/co-sourcing will have an important role to play. But more than ever, entities will have to consider …
Customer-centric organisations are much better positioned for market leadership. But many are faced with two core problems: 1) they’re too focused on incremental improvements to existing services and products in silos, or 2) they’re simply not customer-centric enough, having only a partial view of their customer needs. Today, organisations should …
The stereotype that actuaries can only work in the insurance industry focusing on reserves and premiums is wrong, and, unfortunately, they are stuck with this prejudice to this day. That said, we have to admit there is some truth to it as indeed the majority of actuaries are still busy …
