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An interview with Marc Hemmerling, Member of the Management Board of the Luxembourg Bankers' Association.
Mr Hemmerling, what does “FinTech” mean?
First of all, ‘FinTech’ is a word that is used quite often at the moment; it’s a lot of hype. However, it has a meaning: ‘FinTech’ is an abbreviation for financial technologies and a collective name for disruptive IC technologies used to offer financial services, such as banking applications or booking systems. ‘FinTech’ could therefore be equated with innovation in financial services, for instance offering more modern and user-friendly services through technologies. As ‘FinTech’ is often used in the press, it thus covers different topics: new products, services and business models. These...
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