Much like a top contending team in the European Championship, Luxembourg’s corporate banking sector excels by consistently strategising and optimising its operations. But to understand its prominence, we need to look back at its history. Its rise began in the late 1960s when German banks entered the pan-European markets, capitalising …
“Imagine if we, as a bank, could precisely know what each customer needs before they even articulate it. We could offer them financial products that they actually want, not just what we think they might need,” says Emily, a successful bank manager who is always eager to innovate. She wants …
Leonard couldn’t lull himself into dreamland. His bedside clock kept reminding him of the unforgiving passage of time—it was now 5am—and he was getting more and more jittery. You see, later that day, his team would receive training on Artificial Intelligence (AI) and how to use it in their department. …
In late 2009 and for the next few years, the atmosphere was heavy in number 175, rue de la Loi, in Brussels. Heads of State and Ministers of Finance were gathering quite frequently in this building—that is, the Council of the European Union—and staying there until late in the night …
Let’s be honest, “Are you ‘Fit and Proper’?” isn’t usually the first question one asks when starting a conversation. There are plenty of other options —and probably more enticing ones— for small talk. Of course, this also depends a little bit on where you live. Here in Luxembourg, chatting about …
Banks are increasingly reporting on their future contribution towards sustainability. The most common public commitment is their ambition to redirect capital flows towards sustainable investments as part of the lending business. This is where the green asset ratio comes into place as it shows how green banks’ portfolios are. But …
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 — …
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 …
In the past few years, most banks have come to understand that if data is the new oil for companies, then it just might be the new gold for them. Following this, most banks also realise that it will take Artificial Intelligence (AI) to unlock that data gold. Sounds pretty …
In this article, we dive into the EU Taxonomy for sustainable finance based on the 2021 report by the UNEP FI (United Nations Environment Programme Finance Initiative), and the European Banking Federation (EBF). We are especially focusing on the Taxonomy in banking. Given that most companies are at different stages …
