Fin, Meet Tech

Today's world is all about how fast you can adapt to change. Whole industries have experienced this trend as new players such as Airbnb and Uber, respectively in the accommodation and taxi industries, have quickly become giants by leveraging technology and gobbling up the market shares of traditional actors.

The finance industry has been slower to make noise in the digital realm, perhaps since people tend to tip-toe when it comes to handling money.

But that's all set to change, as financial technology, i.e. FinTech, is rapidly finding its footing. And it's doing so on the Boulevard Royal, Avenue John F. Kennedy, and, perhaps more romantically, on the footpaths around Vianden Castle.

In a word: Luxembourg.

Players like SESAMm, a company that creates stock tips by analysing social media platforms, and Neurodecision, who have gamified investment profiling using behaviour algorithms, are revolutionising nearly every aspect of finance. From retail banking and asset management to the very existence of fiat currency, no part of the industry is going to escape unchanged.

To protect their core business and profit from this extraordinary pool of creativity, banks, private equity houses, and venture capital firms are all fighting to secure the "next big thing" in digital innovation. To this end they are jockeying to provide innovative start-ups with access to capital, collaboration, connections, and coaching.

It's only natural that Luxembourg, as a central player in international finance and technology, be at the forefront of this revolution. It's an established landing point for leading tech companies like PayPal, Amazon, and Rakuten, and, what's more, Luxembourg's government is aware of this industry's potential and is doing what it can to attract entrepreneurs from all over the world to create and/or grow their company here.

The KPMG Hub for Entrepreneurship

This is where KPMG comes in. To enable its clients to have access to this thriving pool of innovation, KPMG Luxembourg has created a department dedicated to...