How to improve on the communication, organization and preparedness a solid Corporate Governance requires, granting the obsession with security? That is the mission of loomion, a startup that produces simple, solid and secure Corporate Governance solutions for digital information exchange. loomion develops premium Corporate Governance software and makes the Board communication and meetings efficient and secure, wherever the decision makers are. loomion’s COO Markus Bosch tells us more about this fintech innovation and the next steps of its expansion.
(Photo: loomion’s COO Markus Bosch has been developing their board software since 2005, first for the board of directors of a large Swiss pharmaceutical company, then as an entrepreneur out of Luxembourg and Switzerland.)
What is the purpose of loomion?
The goal of loomion is to make board communication and meetings more efficient and secure – wherever board members are.
[…] the software allows the secure and efficient exchange and treatment of highly sensitive documents.
loomion’s tablet and web applications digitalize the day-to-day functioning of decision bodies by addressing the specific issues every corporate office of large and mid-sized corporations, investment funds and trusts faces. More specifically, the software allows the secure and efficient exchange and treatment of highly sensitive documents.
loomion’s products allow its clients to (i) improve the efficiency of their board members and office, (ii) mitigate the risk of information leakage, (iii) facilitate the management of increasing documentation efforts, and (iv) enhance the quality of the board and fund services globally
Which functionalities and services are you offering to corporates, especially investment funds?
On a first hand, we increase the operational efficiency and security of corporate and fund services by improving compliance management, multi-fund management and collaboration.
On a second hand, we help funds services to reach the next level of competitiveness by enhancing the mobility of board members, the management of multi-mandates and the control of information flow.
[…] loomion provides all the specific features required by the fund industry […]
Last, we facilitate the life of board and fund administrators by allowing paperless communication, the governance of complex structures and the steady interaction with directors and clients.
As a result, loomion provides all the specific features required by the fund industry (e.g. flexibility to adapt to all structures, multi-board management). It is based on Microsoft SharePoint and thus highly scalable and cost-efficient. Our solution can be installed on-premise on customer servers or off-premise on TIER IV servers in Luxembourg (PSF) or Switzerland, allowing our clients to exercise maximum control on their data.
Where are you now and what are the next steps?
Currently we have signed our first big clients and partnerships in both Luxembourg and Switzerland. Interest for our product is high since companies see the real added value from our product resulting from considerable efficiency gains as well as improved security and usability. We have strong leads in the investment funds industry in Luxembourg and Europe and are in advanced talks with several large players to implement our solution.
We will strongly push to target the investment fund and trust industries as we have unique competitive advantages […]
Our goal is to become the market standard board software in the financial sector and trust business. More concretely, our next steps involve the concretization of our leads and to continue the expansion in Luxembourg and Switzerland. We will strongly push to target the investment fund and trust industries as we have unique competitive advantages in these sectors.
Is there enough innovation in the investment funds industry?
Currently the asset management industry is undergoing technological change. From the digitalization of the processes to the entry of large technology giants such as Alibaba and Google into the asset management industry, the sector stands under strong pressure.
Luxembourg being the European administration center for investment funds, the local sector cannot hide from these shaping forces. Generally, it seems to us that the market is reacting, albeit slowly to the technological challenges. Collaborations between financial corporations and innovative technology companies have to be reinforced and improved in order to guarantee market leadership. Today, we see first signs into that direction but certainly much more can and will be done.
What do you think about Luxembourg’s Fintech ecosystem – and future?
Given Luxembourg’s importance as a financial sector, we clearly see a strong potential to develop a local Fintech ecosystem. However, we regret that when speaking of Fintech, people mostly focus on digital payment system or marketplaces for financial products. It should not be forgotten that the Luxembourgish financial center provides technology companies with a large range of opportunities across the entire value chain. On the flip side, this allows of course the financial sector to develop more attractive services and to stay on the competitive edge.
All this can lead to a bright future. However, it takes knowledge, risk-taking, entrepreneurial spirit and the acceptance of failure in our society to let these companies blossom.