The Luxembourg House of Financial Technology (Lhoft) has announced the launch of the Catapult: Future Foundation Program, aimed at tackling one of the financial sector’s most pressing challenges: creating a secure, efficient and scalable platform for the exchange of financial data and documents between financial institutions. The initiative, which officially opened for applications on 3 December 2024, invited technology firms and startups to develop solutions that will improve data exchange within the financial services industry.

In a statement, Luxembourg’s finance minister (CSV) emphasised that the programme reflects the government’s commitment to strengthening the country’s financial sector through collaborative innovation. “By seeking advanced data and document exchange solutions, we aim to enhance operational efficiency and foster seamless interactions among financial institutions, their clients, and service providers,” Roth said. He further highlighted that the initiative underscores Luxembourg’s focus on maintaining its leadership in financial services, leveraging digitalisation as a key driver of sustainable growth.

Security, efficiency and compliance

The Catapult: Future Foundation Program aims to address the need for a cutting-edge platform that enables seamless and secure data and document exchange between different actors in the financial services sector. The inaugural edition of the programme will focus specifically on solutions that reduce operational costs, improve efficiency, enhance client experiences and meet the highest standards of data privacy, cyber resilience and regulatory compliance, stated the press statement.

, CEO of the Lhoft Foundation, noted that collaboration is at the heart of innovation. “The Catapult: Future Foundation Program epitomises Luxembourg’s unique ability to bring together diverse stakeholders to address complex challenges with mutualised solutions,” he stated. Zubairi also acknowledged the extensive contributions of the institutions and associations that helped define the programme’s requirements, stressing that the next step is for technology companies, both large and small, to step forward and contribute.

Different approach

Unlike traditional accelerator programmes, the Catapult: Future Foundation Program provides a platform for deep collaboration between participants and leading financial institutions. The selected companies will work directly with industry leaders and experts to refine their proposals, ensuring their solutions meet real-world industry needs and comply with relevant regulations.

Anna Sobkow, head of the programme at Lhoft, described the initiative as a unique blend of innovation, collaboration and mutualisation. “By uniting technology providers and Luxembourg’s leading financial institutions, we aim to deliver transformative solutions that will simplify processes, enhance compliance and solidify Luxembourg’s position as a global leader in financial innovation,” Sobkow explained. Depending on the scale and stage of their projects, participants may be eligible for grant funding to support development efforts and proof-of-concept testing.

A key part of the programme is a five-day bootcamp scheduled for April 2025, during which selected participants will refine their ideas with expert guidance. At the end of the bootcamp, the companies will present their final proposals to a jury, with the winning solution potentially set to revolutionise industry processes.

Application process

The Catapult: Future Foundation Program is open to a wide range of applicants, including technology consortiums, startups, scale-ups and established firms with expertise in regulated industries across Europe. Companies with experience in cloud computing, data encryption, blockchain, API integrations and regulatory compliance--particularly in areas like GDPR, Mifid II and PSD2--are encouraged to apply.

Applications for the programme opened on Tuesday 3 December 2024, and the submission deadline is 28 February 2025. After the bootcamp in April 2025, the winner will be announced in June 2025.