Luxembourg private banks are under pressure. Costs are skyrocketing, regulations are becoming stricter and a shortage of talent threatens competitiveness. According to Yves Stein, president of the Luxembourg bankers’ association ABBL, digitization and automation are crucial to working more efficiently, but many banks are lagging behind larger, universal players. The question is not if, but how quickly the industry can adapt to remain relevant in an increasingly competitive market.
Find the related Investment Officer article at https://www.investmentofficer.lu/en/news/yves-stein-underlines-need-private-banks-innovate
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