Luxembourg has set up its own finance innovation technology and systems centre within List in Belval, pictured Gaël Lesure

Luxembourg has set up its own finance innovation technology and systems centre within List in Belval, pictured Gaël Lesure

Based within the Luxembourg institute of science and technology, Fits, as it is known, was established to bridge the gap between research and industry actors to foster financial innovation.

The centre will focus on the principles of financial innovation through people, practices and processes, and researching industry segments which bring a “tangible economic value for the local finance industry”.

It will give particular focus to four fields: investment management funds; private banking and wealth management; risk and finance and accounting competences, and regulatory compliance and legal technologies.

The Fits centre is run led by scientific director Prof Dr. Jorge Sanz, who has a long academic and private industry career, which was first consolidated in Silicon Valley, USA.