Luxembourg payments specialists Finologee celebrated its 5th anniversary in the presence of Luxembourg prime minister Xavier Bettel.
The fintech, which launched in Luxembourg in 2017 by the brains behind mobile payment platform Digicash, has today grown to a team of 40 experts working out of offices in Leudelange.
Bettel toured the premises before officially inaugurating the new meeting room and co-working floor during a ceremony on 2 June. The new space will be used for internal and external workshops, customer and partner events and team meetings.
Finologee develops products to help Luxembourg banks, insurance companies and fund industry players with compliance, mobile and professional payments, KYC and telecom messaging. Today the regulated company serves more than 100 banks, institutions and corporate clients and has developed six product lines to support the financial industry’s quest for optimisation and innovation.
During the visit, the prime minister was given an introduction to their latest product, ENPAY, a platform for professional payments and multi-bank account access launched under a joint funding agreement with th eLuxembourg government. And he was allowed to test a new feature allowing users to screen payment beneficiaries against international blacklists and sanction lists. Fintech is a growing field within Luxembourg’s technology sector hosting an estimated 250 fintechs which generate over €500m in revenues, according to LHoFT.
“It is the success of technology companies like Finologee that is leading the way for the financial services industry of tomorrow. It also highlights the fact that entrepreneur-led businesses in Luxembourg are capable of making a significant contribution to the industry – in this particular case leveraging previous success stories – with the company founders paving the way for FinTech “made in Luxembourg” already for many years,” the prime minister said.
Finologee CEO Raoul Mulheims praised his team’s efforts, his clients and partners.
He said: “I would like to thank all of them for the confidence they have had in us over the past years. It is thanks to you and the excellent Luxembourg fintech ecosystem that we are moving closer to delivering on our mission goal – helping substantially with the digitalisation of Luxembourg’s financial industry – every day.”
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