This statistic shows the answers to a survey question on the leading corporate strategies of the financial sector in Luxembourg with FinTechs in 2016. In 2016, approximately 14 percent of the senior executives in the Luxembourg financial and FinTech sector indicated they launched their own FinTech subsidiaries. Approximately 21 percent of the Luxembourg financial sector does not deal with FinTech. However, start-ups have another way of getting the capital they need. Of the Benelux countries, Luxembourg has the highest score when it comes to the availability of venture capital for start-up entrepreneurs.
How is the Luxembourg financial sector dealing with FinTechs?
Fintech, or Financial Technology, is a collective term for businesses which try to reinvent financial services with a product or service built on technology. The term is usually applied to start-ups with activities in particular branches such as blockchain, robots and automated systems, mobile payments, money transfers, (micro)loans, fundraising, or asset management. Spanish bank Santander estimated in 2015 that blockchain technology, for example, could reduce banks' infrastructure costs by between 15 to 20 billion dollars per year.
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PwC (Luxembourg). (April 20, 2016). How is the Luxembourg financial sector dealing with FinTechs? [Graph]. In Statista. Retrieved November 21, 2024, from https://www.statista.com/statistics/705889/leading-corporate-strategies-of-luxembourg-financial-sector-with-fintechs/
PwC (Luxembourg). "How is the Luxembourg financial sector dealing with FinTechs?." Chart. April 20, 2016. Statista. Accessed November 21, 2024. https://www.statista.com/statistics/705889/leading-corporate-strategies-of-luxembourg-financial-sector-with-fintechs/
PwC (Luxembourg). (2016). How is the Luxembourg financial sector dealing with FinTechs?. Statista. Statista Inc.. Accessed: November 21, 2024. https://www.statista.com/statistics/705889/leading-corporate-strategies-of-luxembourg-financial-sector-with-fintechs/
PwC (Luxembourg). "How Is The Luxembourg Financial Sector Dealing with Fintechs?." Statista, Statista Inc., 20 Apr 2016, https://www.statista.com/statistics/705889/leading-corporate-strategies-of-luxembourg-financial-sector-with-fintechs/
PwC (Luxembourg), How is the Luxembourg financial sector dealing with FinTechs? Statista, https://www.statista.com/statistics/705889/leading-corporate-strategies-of-luxembourg-financial-sector-with-fintechs/ (last visited November 21, 2024)
How is the Luxembourg financial sector dealing with FinTechs? [Graph], PwC (Luxembourg), April 20, 2016. [Online]. Available: https://www.statista.com/statistics/705889/leading-corporate-strategies-of-luxembourg-financial-sector-with-fintechs/
