London, Luxembourg, Singapore, 13 November 2019 – Luxembourg House of Financial Technology (LHoFT) and Centre for Finance, Technology and Entrepreneurship (CFTE) are delighted to announce the formation of the Luxembourg Academy of Digital Finance. The Academy is designed to help financial institutions upskill their employees in Fintech, and help finance professionals to deepen their understanding of the changing landscape of the industry. The announcement was made on the 13th of November 2019 during the Singapore Fintech Festival, the biggest Fintech event worldwide.
The Academy will cover the recent developments in financial technology such as blockchain, AI applications, digital asset management as well as more specific topics like Regtech, Insurtech, cybersecurity and more. By launching the programme, the centre aims to transform Luxembourg’s financial institutions to digital and, therefore, strengthen the region’s leading financial centre position.
Luxembourg, located in the heart of Europe, is the leading Eurozone’s financial centre and second-largest investment fund worldwide, with 135 banks established in the country. According to the PWC report from 2019, upskilling is a key response to the ongoing digital transformation of the banking industry in the region, with an increasing number of banks investing in their workforce to prepare to the Fintech revolution. The report unveiled that 42% of respondents decide to conduct significant retraining to close a potential skill gap in their organisations.
The partnership announcement was made on Wednesday 13th of November during the Singapore Fintech Festival. With more than 50,000 participants from 130 countries, the Festival is a timely reminder of the transformation that technology is bringing to finance, and the perfect place to support the launch of the Academy. The Memorandum of Understanding was signed between LHoFT’s CEO, Nasir Zubairi, and CFTE’s Co-Founders, Huy Nguyen Trieu and Tram Anh Nguyen.
CFTE is honoured to partner with LHoFT and to assist with delivering high-quality content that contributes to the development of the financial services workforce.
“The launch of the Luxembourg Academy of Digital Finance is an important milestone for upskilling the financial service industry. We are delighted to be partnering with LHoFT to deliver on this critical mission of keeping people at the centre of technology transformation” – said Tram Anh Nguyen, CFTE’s Co-founder.
LHoFT is Luxembourg’s leading Fintech centre, that drives technology innovation for the region’s financial services industry, connecting the domestic and international Fintech community to develop solutions that shape the world of tomorrow. The LHoFT’s board members include the Minister of Finance, Pierre Gramegna, and the Vice-President of the Chamber of Commerce, Carlo Thill.
Nasir Zubairi, the Co-Founder and CEO of LHoFT, said “Change is inevitable and digital is the core driver in financial services. Understanding the digital ecosystem and the value it can deliver to business and customers is critical Our partnership with the leading digital education provider for financial technology, CFTE, will help ensure everyone in our Luxembourg institutions is energised and sees the potential that fintech can deliver to their work and to develop their careers.“
The partnership with LHoFT is the latest milestone in a series of top-tier collaborations by CFTE. This follows the launch of a Programme of AI in Finance in the Middle East with ADGM Academy, the partnership with Finance Montreal to create the first online course on Open Banking and the partnership with Hong Kong Cyberport to upskill finance professionals in Asia.
About the Centre for Finance, Technology and Entrepreneurship (CFTE)
CFTE is an education platform supported by senior leaders from the largest institutions, startups and universities. It addresses the needs of professionals in finance and technologists to upskill in a rapidly changing industry being transformed by emerging technologies. To date, over 40,000 finance professionals have been upskilled through CFTE courses worldwide. The signature Fintech Foundation and AI in Finance online courses have been developed by experts from leading Universities, financial institutions, startups and regulators, such as MIT, Imperial College, Citi or Starling Bank.
For more information, see //www.cfte.education.
About Luxembourg House of Financial Technology
The LHoFT Foundation is a public – private sector initiative that drives technology innovation for Luxembourg’s financial services industry, connecting the domestic and international Fintech community to develop solutions that shape the world of tomorrow. Senior executives from 13 leading private sector institutions sit on our board as leadership circle partners alongside representative from the Luxembourg Government, such as our Chairman, Pierre Gramegna, Luxembourg Minister of Finance, as well as leaders of the Luxembourg Chamber of Commerce, Luxembourg for Finance and PROFIL, the Luxembourg Financial Industry Federation.
For more information, please visit www.lhoft.com/en/.