The Luxembourg Bankers' Association (ABBL) has announced the creation of a new 'Digital Banking and FinTech Innovation' Cluster as part of the ABBL's strategy in this domain.
CIO of Banque et Caisse d'Epargne de l'Etat, Jean Hilger, will head the Cluster for the next two years, with assistance provided by Vice-Head Rolf Bachner, Managing Director of the Bank of New York Mellon (Luxembourg) S.A.
Jeffrey Tessler, international central securities depository Clearstream's Director of 'Clients, Products & Core Markets' division, will represent the cluster at ABBL's Board of Directors, whilst Marc Hammerling, Member of the ABBL Management Board, and Andrey Martovoy, FinTech Adviser at ABBL, will take charge of the day-to-day management of the cluster.
The Cluster will serve as a support system to ABBL members in digitally transforming their businesses, which is expected to be an important element in the future of banks and traditional financial services providers.
The approach will enable ABBL to monitor the initiatives devised by the Luxembourg Government to highlight FinTech issues and create a credible, competitive and reliable FinTech ecosystem in Luxembourg, with BANKNXT anticipating that the country, alongside Africa and Israel, will have an impact on global fintech in 2016.
Photo by ABBL (Jean Hilger)
