Nasir, you've been in Luxembourg for several months now. What made the biggest impression on you when you discovered this country?
In which way can this community help make Luxembourg into a FinTech hub that matters?
Luxembourg had a reputation for being relatively conservative. How did things evolve in this regard?
When you took office, your speech emphasised the importance of fighting the fear of change. In the face of the risks and opportunities associated with the digital transformation of the economy that we are witnessing, are finance players becoming more open
What goals should be pursued in financial services by capitalising on this community?
Can you give us an example?
What do you see as the great opportunities for Luxembourg?
What are the relevant strengths of Luxembourg?
We talked about the importance of attracting start-ups. The other big challenge lies in the transformation of the existing financial players. How do you approach that?
Significant regulatory barriers are falling, particularly regarding the location of the financial data of the players established in Luxembourg. What are your views on these reforms?
They show that things here can move very quickly. I see these measures as very positive. Start-ups are an essential part of the FinTech ecosystem that we want to develop in Luxembourg. However, all start-ups use cloud services. The regulations which were in force in the past forced them to use systems hosted in Luxembourg. In the negotiations to convince these companies to join Luxembourg, that was an important limiting factor. So I see these reforms as a very positive example of change for Luxembourg. And many supporting PSF players, such as EBRC, whose business will also be influenced by these transformations, adopt the right attitude towards these changes. Beyond the risks, they see the opportunities. They have chosen to adapt their strategy, to move forward in order to build this FinTech hub.
In this environment, what are the advantages of Luxembourg's IT service providers?
What do you think about Luxembourg's IT infrastructure?
It is exceptional. Luxembourg is the only country to have seven Tier IV Data Centres, three of which belong to EBRC. London has just one, like Frankfurt, while Paris has none. It was on the basis of this infrastructure and a unique pragmatism that Luxembourg was able to become one of the most important financial centres in the world. And it has also become a centre of excellence in the field of data hosting. I have discovered that gaming players such as Valve, who are even more dependent on technology than financial services, have also chosen Luxembourg to serve the European market, and I am very impressed. Gaming companies can connect 30 million users simultaneously while guaranteeing a high-quality experience through Luxembourg’s infrastructure. This is, in my opinion, a marketing argument that must be put forward to highlight this technological expertise. But this expertise, of course, can also be used to convince financial service providers. However, I think that while technology is necessary and has to rely on high-quality infrastructure, technology alone is not the main issue in financial services. Technology is secondary, and comes after marketing. Today, with the various players that are now involved, like EBRC, one of the main challenges remains to better sell Luxembourg. On that front, I think we can do better.