POLITICS & INSTITUTIONS - ECONOMY

PayPal funds fintech prof role



PayPal wants to help Luxembourg become a household name in the fintech sector Marion Dessard

PayPal wants to help Luxembourg become a household name in the fintech sector Marion Dessard

Innovations in digital financial services in Luxembourg should receive a boost in future thanks to the creation of a new chair at the University of Luxembourg.

The FNR Pearl chair in fintech will be jointly funded over five years by online payment giant PayPal and the National Research Fund (FNR), the government said in a press release following the signing of a memorandum of understanding on 6 March.

The chair will be established at the University of Luxembourg’s Interdisciplinary Center for Security, Reliability and Trust (SnT).

Fintech is a rapidly growing sector in Luxembourg with digital technologies creating opportunities for new services.

The purpose of the chair will be to “demystify digital technologies and rethink the connections between regulators, industries and users,” the government wrote.

Continuing on the theme of Fintech, The Alphonse Weicker Foundation, powered by BGL BNP Paribas, has launched a long-term research and development programme in the field of fintech with the university’s SnT centre.

The Alphonse Weicker Foundation will rely on SnT’s fintech research expertise to respond to the needs of the Bank in the fields of security, customer behavior and data management, the university said in a press release.

It is hoped the collaboration will lead to the development of innovative and performant solutions for the bank. The project is supported by a grant from the Alphonse Weicker Foundation.